Warning Letter - Trident Trust Company (BVI) Limited (2015-05-14)

Summary

This is a short enforcement notice published by the BVI Financial Services Commission recording that a warning letter was issued to Trident Trust Company (BVI) Limited. The underlying breach concerned appointing a senior officer without first obtaining the Commission's written approval, as required under section 19(2) of the Banks and Trust Companies Act, 1990.

• Entity: Trident Trust Company (BVI) Limited, a licensed trust company
• Contravention: Section 19(2) of the Banks and Trust Companies Act, 1990, for failing to apply for the Commission's written approval before appointing a senior officer
• Action taken: A warning letter was issued by the Commission
• Reference: Matter ID BF101113/245

The notice is purely an informational enforcement disclosure about a specific past breach by a named entity; it does not itself create new ongoing compliance obligations for other regulated persons, though it underscores the existing requirement to seek prior written approval before appointing senior officers.

Key obligations

• Trust companies and banks must obtain the Commission's prior written approval before appointing a senior officer, as required under section 19(2) of the Banks and Trust Companies Act, 1990.

Applies to

banks, trust companies