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British Virgin Islands

administrative fines

230 British Virgin Islands regulatory document(s) tagged administrative fines.

Practice-note overview · reflects instruments as at 2026-08-31. Generated from the indexed documents below and human-reviewed — not legal advice.

Who is caught

Administrative fines in the Virgin Islands are imposed by two regulators represented in these instruments: the Financial Services Commission (FSC) and the International Tax Authority (ITA). The general FSC framework sits in the Financial Services (Administrative Penalties) Regulations, which apply to licensees regulated by the FSC and, for service and penalty purposes, to persons carrying on financial services business without a licence. Numerous sector-specific instruments layer their own fixed or tiered administrative penalties on top of that framework.

Who is caught

  • FSC licensees and unlicensed operators: The Financial Services (Administrative Penalties) Regulations apply generally to FSC-regulated licensees and to persons carrying on financial services business without a licence, who are treated as licensees for penalty purposes.
  • Financing and money services businesses: The Financing and Money Services Act applies to licensees across its licence Classes A to G and carries administrative penalties in its Schedule of Offences.
  • Non-profit organisations: The Non-Profit Organisations Act 2012 imposes administrative penalties on registered NPOs; the Financial Investigation Agency (Amendment) Act 2024 extends supervision and penalties to DNFBPs and supervised NPOs.
  • Companies and partnerships: The BVI Business Companies (Amendment) Regulations 2024, the beneficial ownership amendment regulations, the Limited Partnership (Amendment) Act 2024 and the related limited partnership fees regulations attach administrative fines to company and limited partnership obligations.
  • Tax reporting entities: The International Tax Authority (Administrative Penalties) Regulations 2023 apply to persons and legal entities subject to the International Tax Authority Act and mutual legal assistance legislation such as CRS and FATCA reporting.
  • Other regulated persons: Insolvency practitioners, regulated persons filing prudential and statistical returns, registered agents using the BOSS system, segregated portfolio companies, and entities and professionals subject to the AML/CFT Code of Practice are each subject to administrative fines under their respective instruments.

Sources: International Tax Authority (Administrative Penalties) Regulations, 2023 (SI No. 92 of 2023) · Mutual Legal Assistance (Tax Matters) (Fees) Order, 2024 · Anti-Money Laundering and Terrorist Financing Code of Practice (Revised 2020) · BVI Business Companies (Amendment) Regulations, 2024 · BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025 (S.I. No. 63 of 2025) · Segregated Portfolio Companies (BVI Business Company) Regulations, 2018 (SI 2018 No. 6) · Limited Partnership (Amendment) Act, 2024 (No. 23 of 2024) · Non-Profit Organisations Act, 2012 · Financing and Money Services Act (Revised 2020) · Financing and Money Services (Amendment) Act, 2020 · Financial Investigation Agency (Amendment) Act, 2024 · Financial Services (Administrative Penalties) Regulations (Revised 2020) · Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2024 · Financial Services (Prudential and Statistical Returns) Order (Revised 2020) · Insolvency Practitioners Regulations (Revised 2020) · Segregated Portfolio Companies (Insurance) Regulations, 2018 · Beneficial Ownership Secure Search System (Fees) Regulations (Revised 2020)

Key duties

The duties most directly tied to administrative fines fall into two groups: the procedural steps a person must take once a penalty notice is issued, and the underlying filing, notification and compliance obligations whose breach triggers a fine.

Penalty procedure and deadlines

  • Representations: Under the Financial Services (Administrative Penalties) Regulations, a licensee served a notice of proposed penalty may make representations within 21 days before a final written penalty notice is issued; the ITA regime and the Enforcement Committee procedures apply the same 21-day representation period following a breach or proposed-penalty notice.
  • Payment: A licensee must pay a penalty within 14 days of receipt of the penalty notice under the FSC Regulations; the ITA Regulations require payment within 14 days of receipt unless instalments are agreed.
  • Appeal: An FSC penalty may be appealed to the Appeals Board within 14 days, and the appeal does not stay the obligation to pay; an ITA penalty may be appealed to the Court within 30 days.

Obligations that trigger fines

  • Timely filings: Late or inaccurate filing of prudential and statistical returns, annual returns, registers and beneficial ownership information attracts administrative penalties under the relevant instruments, including the Financial Services (Prudential and Statistical Returns) Order and the company and limited partnership regimes.
  • Notifications: Failure to notify changes (for example directors and senior officers, or changes to registration information) within prescribed periods is a common trigger, as illustrated by enforcement notices imposing penalties for failing to notify fund director changes within 14 days.
  • Record-keeping: Failure to maintain required records attracts penalties under the FSC Regulations, the NPO Act and the AML/CFT Code of Practice.
  • Cooperation: The Financial Services Commission (Amendment) Act 2024 and the Financial Investigation Agency (Amendment) Act 2024 make failure to cooperate with the regulator an offence carrying a fine of up to $20,000.
  • AML/CFT compliance: Breaches of customer due diligence, training, reporting and record-keeping duties under the AML/CFT Code of Practice carry substantial administrative fines.

Sources: International Tax Authority (Administrative Penalties) Regulations, 2023 (SI No. 92 of 2023) · Guidelines and Operating Procedures of the Enforcement Committee (FSC/G050) · Administrative Penalty $1,160.00 - TMF Authorised Representative (BVI) Ltd. (2017-07-02) · Administrative Penalty $1,160.00 - TMF Authorised Representative (BVI) Ltd. (2017-02-17) · Anti-Money Laundering and Terrorist Financing Code of Practice (Revised 2020) · BVI Business Companies (Amendment) Regulations, 2024 · BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025 (S.I. No. 63 of 2025) · Financial Investigation Agency (Amendment) Act, 2024 · Financial Services Commission (Amendment) Act, 2024 (No. 22 of 2024) · Financial Services (Administrative Penalties) Regulations (Revised 2020) · Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2024 · Financial Services (Prudential and Statistical Returns) Order (Revised 2020)

Exemptions and carve-outs

The instruments provide procedural carve-outs rather than broad exemptions from the fining regimes themselves. The main relief mechanisms concern waivers for late-filing penalties, prohibitions on duplicate penalties, and limitation periods.

  • Late-filing waiver: The Financial Services Commission (Amendment) Act 2021 inserts a section 54B waiver mechanism allowing the Commission to waive a monetary penalty for late filing where the failure is wholly or partly due to the default of an authorised or registered agent, or to an act of God, subject to specified conditions and application requirements. It does not apply where a penalty for the filing failure has already been paid.
  • No double penalty: Under the Financial Services (Administrative Penalties) Regulations, the Commission may not impose more than one administrative penalty for the same contravention, and where it imposes a penalty it cannot revoke the licence on the same grounds, though other enforcement action remains available. The ITA Regulations similarly bar more than one penalty for the same contravention.
  • Prosecution bar (ITA): Under the ITA Administrative Penalties Regulations 2023, an ongoing prosecution for the same offence precludes an administrative penalty.
  • Limitation periods: The FSC cannot issue a proposed penalty notice more than 2 years after it first knew of the contravention (extended to 3 years by the 2025 amendment) and cannot issue a late payment penalty notice more than 6 years after the amount became due; the ITA cannot issue a breach notice more than 2 years after it first knew of the contravention.

Sources: International Tax Authority (Administrative Penalties) Regulations, 2023 (SI No. 92 of 2023) · Financial Services Commission (Amendment) Act, 2021 · Financial Services (Administrative Penalties) (Amendment) Regulations, 2025 · Financial Services (Administrative Penalties) Regulations (Revised 2020)

Enforcement and penalties

Administrative fine amounts are set instrument by instrument. The general FSC scale sits in the Financial Services (Administrative Penalties) Regulations, with sector instruments adding fixed or tiered penalties. Enforcement is exercised by the FSC (including through its Enforcement Committee and section 56 fining powers) and by the ITA.

General FSC scale

  • Schedule 1 ranges: The Financial Services (Administrative Penalties) Regulations set ranges by category: licensing contraventions $2,000 to $20,000; financial resource contraventions $2,000 to $20,000; late filing or notification tiered $100 to $10,000 by business days late; failure to obtain approval $1,000 to $5,000; record-keeping failures $500 to $5,000; compliance system failures $2,000 to $10,000; failure to submit accurate returns $500 to $5,000; unauthorised business or failure to comply with a directive $5,000 to $60,000; and other contraventions $100 to $5,000.
  • Late payment: Separate late payment penalties under Schedule 2 escalate in 30-day tiers, capped at 100% of the amount owed.
  • 2025 amendment: The Financial Services (Administrative Penalties) (Amendment) Regulations 2025 revise the late filing scale to $200 to $1,000 for 1 to 30 business days late, rising to a $30,000 fixed penalty plus $100 per additional business day for filings 181 or more business days late, and revise the other-contravention penalty to $500 to $20,000.

Sector-specific fines

  • Financing and money services: The Financing and Money Services Act sets fixed and default administrative penalties up to $75,000 in its Schedule of Offences. The 2020 amendment treats failure to collect or remit the transaction levy as an other contravention under the Financial Services (Administrative Penalties) Regulations, and provides that carrying on unlicensed business faces a fine of $75,000, or a fine of $60,000 or three years imprisonment, or both.
  • Non-profit organisations: The Non-Profit Organisations Act 2012 sets administrative fines of $1,000 to $20,000 in Schedule 3, alongside offences (operating unregistered: fine up to $10,000 or up to six months imprisonment; knowingly false registration information: $5,000 fine or up to one year imprisonment).
  • Financial Investigation Agency: The Financial Investigation Agency (Amendment) Act 2024 makes failure to cooperate an offence with a fine not exceeding $20,000, and provides that non-compliance with a returns Order attracts administrative penalties prescribed in that Order.
  • FSC Act amendments: The Financial Services Commission (Amendment) Act 2021 makes an agent's failure to notify the licensee of a filing failure an offence with a fine not exceeding $10,000. The Financial Services Commission (Amendment) Act 2024 makes failure to cooperate under section 49B an offence with a fine up to $20,000, makes a section 17A(4) failure an offence up to $20,000, and substantially raises prescribed fines (for example section 33B from $5,000 to $50,000, section 53 to $75,000, section 54 up to $25,000 or $75,000, section 54A up to $50,000, and section 54B $25,000).
  • Companies and partnerships: The BVI Business Companies (Amendment) Regulations 2024 introduce four tiers of fixed fines up to $10,000, $25,000, $50,000 and $75,000; the beneficial ownership amendment regulations 2025 revise the same tiered schedule. The Limited Partnership (Amendment) Act 2024 imposes a $5,000 penalty on a subsequent restoration and a $2,500 penalty on restoration for beneficial ownership or register filing failures, and the limited partnership fees amendment 2024 adds four tiers up to $75,000 plus escalating late-filing penalties often capped at $5,000.
  • Prudential and statistical returns: Schedule 5 of the Financial Services (Prudential and Statistical Returns) Order sets fines including failure to file from $400 plus $100 per additional month, failure to file within an extension $600 plus $100 per month, failure to ensure accuracy $300, and failure to notify or correct inaccurate information $700 each.
  • Insolvency practitioners: The Insolvency Practitioners Regulations allow a $500 penalty per contravention, increasing by 10% if unpaid within one month and a further 50% if unpaid within two months, recoverable as a civil debt.
  • BOSS system: The Beneficial Ownership Secure Search System (Fees) Regulations impose tiered late-payment penalties of $1,000 to $10,000, with access removed and the matter reported to the FSC beyond 120 business days late.
  • Segregated portfolio companies: Both sets of Segregated Portfolio Companies Regulations expose the company (and, for portfolio creation, its directors) to administrative penalties under the Financial Services (Administrative Penalties) Regulations, plus late payment penalties in their fee schedules.
  • AML/CFT Code: Schedule 4 of the AML/CFT Code of Practice sets fines of roughly $50,000 to $75,000 in the Revised 2020 edition, revised by the 2022 amendment to roughly $60,000 to $100,000 (higher for repeat or corporate breaches) and by the 2023 amendment to add fines of $70,000 to $100,000 for virtual asset and suspicious transaction reporting failures.

ITA penalties

  • Schedule of fines: The International Tax Authority (Administrative Penalties) Regulations 2023 set tiered fines for late filing or response ($100 to $10,000), false information ($2,000 to $50,000), failure to comply with a notice to produce information ($1,000 to $50,000), compliance contraventions ($1,000 to $15,000), and a general catch-all ($100 to $50,000).
  • Continuing and late payment: A continuing penalty of $50 per day may accrue for unremedied contraventions, and late payment attracts a surcharge of 5% per month outstanding up to a maximum of 60%. The Mutual Legal Assistance (Tax Matters) (Fees) Order 2024 applies that late-payment fee where its $185 annual BVIFARS fee is unpaid by 1 June.

Enforcement powers and practice

  • Enforcement toolkit: The FSC's enforcement philosophy statement confirms tools ranging from warnings and directives to administrative penalties, fines and licence revocation, applied under its existing powers including section 56 fining powers, with fines for non-compliance, repeated breaches and partial compliance starting at maximum levels on a reducing scale for mitigating factors.
  • Enforcement Committee: The Guidelines and Operating Procedures of the Enforcement Committee set out the notice of proposed penalty, 21-day representation period, and notice of imposed penalty with payment due within 14 days, and cover use of public statements and the ascending ladder of enforcement actions.
  • Illustrative penalties: Published FSC notices record penalties including $4,000 (AMCA, Insurance Act), $120,000 (TMF), $20,000 (East Asia), $25,000 (Blenheim), $219,000 (Vistra), $57,500 (Vistra Trust), $125,000 (Aleman Cordero Galindo & Lee Trust) for AML/CFT Code breaches, and smaller penalties of $1,000 to $1,400 for late financial statement filings and notification failures under the Insurance Act, Securities and Investment Business Act, Mutual Funds Regulations and section 54A of the FSC Act.

Sources: International Tax Authority (Administrative Penalties) Regulations, 2023 (SI No. 92 of 2023) · Mutual Legal Assistance (Tax Matters) (Fees) Order, 2024 · The BVI Financial Services Commission Outlines Priorities for its New Enforcement Philosophy · Guidelines and Operating Procedures of the Enforcement Committee (FSC/G050) · AMCA Insurance Reinsurance Co. Ltd. - Public Statement No. 11 of 2012 (2012-07-05) · Administrative Penalties to the total of $125,000 - ALEMAN, CORDERO, GALINDO & LEE TRUST (BVI) LIMITED (2025-11-21) · Administrative Penalties $219,000 and Warning Letters - Vistra (BVI) Limited (2024-09-30) · Administrative Penalties $57,500 and Warning Letters - Vistra Trust (BVI) Limited (2024-09-30) · Administrative Penalties $120,000 - TMF (B.V.I.) LTD. (2023-09-18) · Administrative Penalties $20,000.00 - EAST ASIA CORPORATE SERVICES (B.V.I.) LIMITED (2017-07-04) · Administrative Penalty $1,160.00 - TMF Authorised Representative (BVI) Ltd. (2017-07-02) · Administrative Penalties $25,000.00 - BLENHEIM INSURANCE MANAGEMENT (BVI) LIMITED (2017-03-31) · Administrative Penalty $1,400.00 - Reinsurance Solutions Ltd. (2017-02-17) · Administrative Penalty $1,160.00 - TMF Authorised Representative (BVI) Ltd. (2017-02-17) · Administrative Penalty $1,100.00 - STRATEGIC ACACIA LIMITED (2016-12-22) · Administrative Penalty $1,000.00 - Objective Summa Corporation (2016-05-10) · Administrative Penalty $1,000.00 - Crater Assurance Ltd. (2013-11-12) · Administrative Penalty $1,000.00 - Alternative Protection Management Ltd. (2012-12-11) · Anti-Money Laundering and Terrorist Financing (Amendment) Code of Practice, 2022 · Anti-Money Laundering and Terrorist Financing (Amendment) Code of Practice, 2023 · Anti-Money Laundering and Terrorist Financing Code of Practice (Revised 2020) · BVI Business Companies (Amendment) Regulations, 2024 · BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025 (S.I. No. 63 of 2025) · Segregated Portfolio Companies (BVI Business Company) Regulations, 2018 (SI 2018 No. 6) · Limited Partnership (Amendment) Act, 2024 (No. 23 of 2024) · Non-Profit Organisations Act, 2012 · Financing and Money Services Act (Revised 2020) · Financing and Money Services (Amendment) Act, 2020 · Financial Investigation Agency (Amendment) Act, 2024 · Financial Services Commission (Amendment) Act, 2021 · Financial Services Commission (Amendment) Act, 2024 (No. 22 of 2024) · Financial Services (Administrative Penalties) (Amendment) Regulations, 2025 · Financial Services (Administrative Penalties) Regulations (Revised 2020) · Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2024 · Financial Services (Prudential and Statistical Returns) Order (Revised 2020) · Insolvency Practitioners Regulations (Revised 2020) · Segregated Portfolio Companies (Insurance) Regulations, 2018 · Beneficial Ownership Secure Search System (Fees) Regulations (Revised 2020)

Documents

CitationRegulatorType
AMCA Insurance Reinsurance Co. Ltd. - Public Statement No. 11 of 2012 (2012-07-05)FSCNotice
Administrative Penalties $120,000 - TMF (B.V.I.) LTD. (2023-09-18)FSCNotice
Administrative Penalties $20,000.00 - EAST ASIA CORPORATE SERVICES (B.V.I.) LIMITED (2017-07-04)FSCNotice
Administrative Penalties $219,000 and Warning Letters - Vistra (BVI) Limited (2024-09-30)FSCNotice
Administrative Penalties $25,000.00 - BLENHEIM INSURANCE MANAGEMENT (BVI) LIMITED (2017-03-31)FSCNotice
Administrative Penalties $57,500 and Warning Letters - Vistra Trust (BVI) Limited (2024-09-30)FSCNotice
Administrative Penalties to the total of $125,000 - ALEMAN, CORDERO, GALINDO & LEE TRUST (BVI) LIMITED (2025-11-21)FSCNotice
Administrative Penalty $1,000.00 - Alternative Protection Management Ltd. (2012-12-11)FSCNotice
Administrative Penalty $1,000.00 - Crater Assurance Ltd. (2013-11-12)FSCNotice
Administrative Penalty $1,000.00 - Objective Summa Corporation (2016-05-10)FSCNotice
Administrative Penalty $1,100.00 - STRATEGIC ACACIA LIMITED (2016-12-22)FSCNotice
Administrative Penalty $1,160.00 - TMF Authorised Representative (BVI) Ltd. (2017-02-17)FSCNotice
Administrative Penalty $1,160.00 - TMF Authorised Representative (BVI) Ltd. (2017-07-02)FSCNotice
Administrative Penalty $1,400.00 - Reinsurance Solutions Ltd. (2017-02-17)FSCNotice
Administrative Penalty $1,500.00 - Abacus Trust & Management Services Limited (2014-07-10)FSCNotice
Administrative Penalty $1,500.00 - Analytical Investments Advisors Ltd. (2016-04-15)FSCNotice
Administrative Penalty $1,520.00 - Eagle Protection Insurance Company Limited (2016-11-21)FSCNotice
Administrative Penalty $1,750.00 - Craigmuir Authorised Representative Limited (2017-02-17)FSCNotice
Administrative Penalty $1,750.00 - Craigmuir Authorised Representative Limited (2017-08-03)FSCNotice
Administrative Penalty $1,750.00 - Overseas Management Company Trust (BVI) Ltd (2011-11-28)FSCNotice
Administrative Penalty $1,750.00 - Regency Health Ltd. (2015-07-23)FSCNotice
Administrative Penalty $10,000.00 - ARAMO CORPORATE SERVICES INC. (2017-03-17)FSCNotice
Administrative Penalty $10,000.00 - ARAMO TRUST CO. LIMITED (2015-10-26)FSCNotice
Administrative Penalty $10,000.00 - Alfa Forex Ltd. (2013-11-15)FSCNotice
Administrative Penalty $10,000.00 - COVERDALE TRUST SERVICES LIMITED (2015-08-21)FSCNotice
Administrative Penalty $10,000.00 - DANTRUST LIMITED (2015-02-11)FSCNotice
Administrative Penalty $10,000.00 - MBC Financial Services Ltd. (2012-12-27)FSCNotice
Administrative Penalty $10,000.00 - Sucre & Sucre Trust Limited (2015-10-28)FSCNotice
Administrative Penalty $100,000.00 - Commonwealth Trust Limited (2013-09-26)FSCNotice
Administrative Penalty $100.00 - NIS PE Fund Ltd. (2014-07-10)FSCNotice
Administrative Penalty $11,000.00 - CASTLESTONE MANAGEMENT INCORPORATED (2017-07-07)FSCNotice
Administrative Penalty $13,000.00 - Shirley Trust Company Limited (2013-08-20)FSCNotice
Administrative Penalty $14,000.00 - Commonwealth Trust Limited (2013-08-04)FSCNotice
Administrative Penalty $15,000.00 - CCS Trustees Limited (2015-11-30)FSCNotice
Administrative Penalty $15,000.00 - CR (BVI) LIMITED (2015-11-17)FSCNotice
Administrative Penalty $15,000.00 - Commence Overseas Limited (2015-10-12)FSCNotice
Administrative Penalty $15,000.00 - Intertrust Corporate Services (BVI) Limited (2015-08-26)FSCNotice
Administrative Penalty $15,000.00 - JTC (BVI) Limited (2015-12-15)FSCNotice
Administrative Penalty $15,000.00 - Proservices Limited (2015-02-25)FSCNotice
Administrative Penalty $175,000.00 - ABM Corporate Services Ltd. (2013-05-13)FSCNotice
Administrative Penalty $2,000.00 - Abacus Trust and Management Services Limited (2013-09-27)FSCNotice
Administrative Penalty $2,000.00 - Beverage Emerging Market Fund Ltd. (2017-09-02)FSCNotice
Administrative Penalty $2,000.00 - Craigmuir Authorised Representative Limited (2017-01-13)FSCNotice
Administrative Penalty $2,000.00 - EAGLE CONSTELLATION FUND, LTD. (2017-09-02)FSCNotice
Administrative Penalty $2,000.00 - FH Corporate Services Ltd (2011-06-10)FSCNotice
Administrative Penalty $2,000.00 - Inter-Continental Trust Limited (2012-12-20)FSCNotice
Administrative Penalty $2,000.00 - JL INTERNATIONAL FUND, LTD. (2017-09-02)FSCNotice
Administrative Penalty $2,000.00 - LJ INVESTMENTS CORP. (2017-09-02)FSCNotice
Administrative Penalty $2,000.00 - Premier Assurance Group Ltd. (2014-01-05)FSCNotice
Administrative Penalty $2,000.00 - Standard Pacific Capital Master, Ltd. (2016-11-11)FSCNotice
Administrative Penalty $2,000.00 - Standard Pacific Capital Offshore, Ltd. (2016-11-11)FSCNotice
Administrative Penalty $2,000.00 - VSM International Limited (2014-03-29)FSCNotice
Administrative Penalty $2,250.00 - Crestwood Capital International, Ltd. (2016-12-13)FSCNotice
Administrative Penalty $2,250.00 - Crestwood Capital Master Fund, Ltd. (2016-12-13)FSCNotice
Administrative Penalty $2,500.00 - Bonhôte Trust Corporation Limited (2014-07-10)FSCNotice
Administrative Penalty $2,500.00 - Caribbean Insurers (Health) Limited (2011-12-09)FSCNotice
Administrative Penalty $2,500.00 - Caribbean Insurers Marine Limited (2013-09-26)FSCNotice
Administrative Penalty $2,500.00 - Great Oak Insurance Company Limited (2011-06-10)FSCNotice
Administrative Penalty $2,500.00 - Orbis Services Limited (2013-09-26)FSCNotice
Administrative Penalty $2,500.00 - Portcullis TrustNet (BVI) Limited (2013-10-14)FSCNotice
Administrative Penalty $20,000.00 - Amicorp B.V.I. Limited (2015-02-25)FSCNotice
Administrative Penalty $20,000.00 - Arias Fabrega & Fabrega Trust Co. BVI Limited (2015-01-13)FSCNotice
Administrative Penalty $20,000.00 - Arias Fabrega & Fabrega Trust Co. BVI Limited (2015-02-13)FSCNotice
Administrative Penalty $20,000.00 - Circle Investment Support Services (BVI) Ltd. (2016-02-23)FSCNotice
Administrative Penalty $20,000.00 - Fidelity Corporate Services Ltd. (2015-10-28)FSCNotice
Administrative Penalty $20,000.00 - Heritage Insurance Company (Caribbean) Limited (2015-08-04)FSCNotice
Administrative Penalty $20,000.00 - MCNAMARA CORPORATE SERVICES LIMITED (2015-11-30)FSCNotice
Administrative Penalty $20,000.00 - MCNAMARA CORPORATE SERVICES LIMITED (2022-01-14)FSCNotice
Administrative Penalty $20,000.00 - Osiris International Trustees Limited (2015-12-06)FSCNotice
Administrative Penalty $20,000.00 - PATTON, MORENO AND ASVAT (BVI) LIMITED (2015-04-09)FSCNotice
Administrative Penalty $20,500.00 - Mossack Fonseca & Co. (BVI) Ltd. (2012-12-10)FSCNotice
Administrative Penalty $205,500.00 - Portcullis TrustNet (BVI) Limited (2013-10-14)FSCNotice
Administrative Penalty $22,500.00 - INTAC (BVI) INTERNATIONAL INVESTMENTS LIMITED (2016-09-11)FSCNotice
Administrative Penalty $25,000.00 - Galloway Capital Management Ltd. (2017-02-16)FSCNotice
Administrative Penalty $25,000.00 - ILS Fiduciary (BVI) Limited (2015-11-30)FSCNotice
Administrative Penalty $25,000.00 - Lotus Corporate Services Ltd. (2015-10-20)FSCNotice
Administrative Penalty $25,000.00 - Midland Trust Limited (2015-11-30)FSCNotice
Administrative Penalty $25,000.00 - Newhaven Corporate Services (B.V.I.) Limited (2015-02-24)FSCNotice
Administrative Penalty $25,000.00 - Orangefield (BVI) Limited (2015-10-12)FSCNotice
Administrative Penalty $25,000.00 - QUIJANO & ASSOCIATES (BVI) LIMITED (2015-11-30)FSCNotice
Administrative Penalty $26,000.00 - Laureola Advisors Inc. (2015-12-18)FSCNotice
Administrative Penalty $280.00 - Althea Group Offshore, Ltd. (2016-02-23)FSCNotice
Administrative Penalty $290.00 - Cathedral Fund SPC Limited (2016-12-22)FSCNotice
Administrative Penalty $3,000.00 - ANT Management (BVI) Ltd. (2012-12-11)FSCNotice
Administrative Penalty $3,000.00 - Craigmuir Authorised Representative Limited (2017-01-13)FSCNotice
Administrative Penalty $3,000.00 - Creque's Insurance Agency Limited (2012-12-11)FSCNotice
Administrative Penalty $3,000.00 - IAI Underwriting Ltd (2011-09-19)FSCNotice
Administrative Penalty $3,000.00 - Osiris International Trustees Limited (2011-09-09)FSCNotice
Administrative Penalty $3,000.00 - Osiris International Trustees Limited (2011-10-18)FSCNotice
Administrative Penalty $3,000.00 - Prime Star Equities Offshore, L.P. (2017-02-16)FSCNotice
Administrative Penalty $3,000.00 - Stafford Insurance Ltd (2011-06-29)FSCNotice
Administrative Penalty $3,500.00 - 3MF Artemis, Ltd. formerly 3MF Artemis Fund (BVI) Ltd. (2017-09-02)FSCNotice
Administrative Penalty $3,500.00 - Brazil Real Estate Ltd. formerly Brazil Real Estate Fund Ltd. (2017-09-02)FSCNotice
Administrative Penalty $3,500.00 - Collectible Cars Investment Fund Ltd. (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - LUNOM VICTOIRE FUND LTD. (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - Mandarin Offshore L.P. (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - Mediterranean Investment Fund SPC Limited (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - Orionis Fund Ltd. formerly Rig II Fund Ltd (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - REAL EAST FUND LTD. (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - Rosebank Limited (2011-06-29)FSCNotice
Administrative Penalty $3,500.00 - Sphera Fund-Corporate L.P. (2017-01-20)FSCNotice
Administrative Penalty $3,500.00 - The Opportunity Art Fund Ltd. (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - Toro Participations Limited formerly THE TORO FUND LIMITED (2017-02-16)FSCNotice
Administrative Penalty $3,500.00 - WPC Fund Ltd. (2017-09-02)FSCNotice
Administrative Penalty $30,000 - Quijano & Associates (BVI) Limited (2022-09-27)FSCNotice
Administrative Penalty $31,500.00 - Mossack Fonseca & Co. (B.V.I.) Ltd. (2016-11-04)FSCNotice
Administrative Penalty $310.00 - DEVONSHIRE FUNDS LTD. (2016-12-22)FSCNotice
Administrative Penalty $330.00 - GABELLI ASSOCIATES LIMITED (2016-04-15)FSCNotice
Administrative Penalty $330.00 - GABELLI INTERNATIONAL LIMITED (2016-04-15)FSCNotice
Administrative Penalty $335,000.00 - Commonwealth Trust Limited (2014-06-25)FSCNotice
Administrative Penalty $35,000.00 - Orbis Services Limited (2013-02-09)FSCNotice
Administrative Penalty $35,000.00 - Sovereign Caribbean Limited (2014-03-06)FSCNotice
Administrative Penalty $37,500.00 - Mossack Fonseca & Co. (BVI) Ltd. (2013-11-12)FSCNotice
Administrative Penalty $4,000.00 - Bunge Investment Management Limited (2012-08-16)FSCNotice
Administrative Penalty $4,000.00 - Caribbean Reinsurance Company Ltd (2011-06-14)FSCNotice
Administrative Penalty $4,000.00 - Crouch Services Ltd (2011-06-29)FSCNotice
Administrative Penalty $4,000.00 - FH Corporate Services Ltd (2011-06-10)FSCNotice
Administrative Penalty $4,000.00 - St. Lawrence Trading Inc. (2015-07-22)FSCNotice
Administrative Penalty $4,000.00 - State Mutual Insurance Co. Ltd (2011-06-29)FSCNotice
Administrative Penalty $4,500.00 - The Wesley Company Limited (2013-05-21)FSCNotice
Administrative Penalty $40,000.00 - Crescent Corporate Services Limited (2014-03-06)FSCNotice
Administrative Penalty $440,000.00 - MOSSACK FONSECA & CO (B.V.I.) LTD. (2016-11-11)FSCNotice
Administrative Penalty $460.00 - Eastern European Special Situations Fund Ltd. (2016-12-22)FSCNotice
Administrative Penalty $49,000 - WORLD ARROW LIMITED (2017-03-03)FSCNotice
Administrative Penalty $5,000.00 - Glenn Sylvester Harrigan of CCP FINANCIAL CONSULTANTS LIMITED (2016-02-23)FSCNotice
Administrative Penalty $5,000.00 - IAI Underwriting Ltd (2011-09-19)FSCNotice
Administrative Penalty $5,000.00 - NCB Investment Services Company (2011-05-18)FSCNotice
Administrative Penalty $5,000.00 - Shirley Trust Company Limited (2011-11-15)FSCNotice
Administrative Penalty $5,000.00 - Sinclair Trust & Finance S.A. (2013-05-27)FSCNotice
Administrative Penalty $5,000.00 - Stafford Insurance Ltd (2011-06-29)FSCNotice
Administrative Penalty $5,000.00 - The Insurance Store Limited (2013-01-31)FSCNotice
Administrative Penalty $5,000.00 - Victory Life & Pension Assurance Company Limited (2011-06-29)FSCNotice
Administrative Penalty $5,200.00 - Kalix Fund Limited (2016-12-22)FSCNotice
Administrative Penalty $500.00 - Mr. Barry J. Miller as Director of Shirley Trust Company Limited (2013-08-20)FSCNotice
Administrative Penalty $500.00 - Mr. Ernesto F. Shirley as Director of Shirley Trust Company Limited (2013-08-20)FSCNotice
Administrative Penalty $500.00 - Mr. Luis A. Shirley as Director of Shirley Trust Company Limited (2013-08-20)FSCNotice
Administrative Penalty $500.00 - Ms. Benedicta Samuels as Director of Shirley Trust Company Limited (2013-08-20)FSCNotice
Administrative Penalty $500.00 - Ms. Zadie Llaurdo as Director of Shirley Trust Company Limited (2013-08-20)FSCNotice
Administrative Penalty $500.00 - StateTrust Life and Annuities Limited (2011-12-07)FSCNotice
Administrative Penalty $55,000.00 - CORAL REEF TECHNOLOGIES LIMITED (2022-06-13)FSCNotice
Administrative Penalty $55,000.00 - DANTRUST LIMITED (2015-02-11)FSCNotice
Administrative Penalty $580.00 - Cathedral Investment Management Company Limited (2016-12-22)FSCNotice
Administrative Penalty $580.00 - Eastern European Recovery Fund Ltd. (2016-12-22)FSCNotice
Administrative Penalty $580.00 - Value Partners Private Equity Limited (2016-02-23)FSCNotice
Administrative Penalty $580.00 - Value Partners Private Equity Limited (2017-02-23)FSCNotice
Administrative Penalty $6,000.00 - Mint Capital Advisers Limited (2014-10-16)FSCNotice
Administrative Penalty $6,000.00 - UFG Wealth Management Limited (2014-03-06)FSCNotice
Administrative Penalty $6,000.00 - Vessia Insurance Company Limited (2011-06-29)FSCNotice
Administrative Penalty $6,000.00 - WISE TRAIN LIMITED (2016-12-13)FSCNotice
Administrative Penalty $6,100.00 - BRAZIL ADVANCED LTD. formerly BRAZIL ADVANCED INVESTMENT FUND LTD (2016-09-23)FSCNotice
Administrative Penalty $60,000.00 - TMF (BVI) Limited (2015-08-04)FSCNotice
Administrative Penalty $680.00 - Southagus Fund Ltd (2016-02-23)FSCNotice
Administrative Penalty $680.00 - Southagus Fund Ltd. (2016-02-23)FSCNotice
Administrative Penalty $7,200.00 - LYNX ARBITRAGE FUND LIMITED (2016-12-22)FSCNotice
Administrative Penalty $7,350.00 - Alwaha Fund Limited (2016-12-13)FSCNotice
Administrative Penalty $7,500.00 - AAUG Insurance Co. Ltd. (2013-09-12)FSCNotice
Administrative Penalty $7,500.00 - Prolifico Fund Management Ltd. (2016-12-13)FSCNotice
Administrative Penalty $7,500.00 - SPECTRUM GALAXY FUND LTD. (2016-05-10)FSCNotice
Administrative Penalty $750.00 - DW Trustees (BVI) Limited (2011-09-09)FSCNotice
Administrative Penalty $8,000.00 - Capitalworks International Private Equity Advisors Limited (2014-03-28)FSCNotice
Administrative Penalty $8,000.00 - Capitalworks Investment Management International Advisors Limited (2014-03-28)FSCNotice
Administrative Penalty $8,000.00 - MJM INTERNATIONAL LTD. (2016-12-22)FSCNotice
Administrative Penalty $8,150.00 - THE GALILEO FUND LTD. (2016-06-10)FSCNotice
Administrative Penalty $8,500.00 - Abacus Trust and Management Services Limited (2013-09-27)FSCNotice
Administrative Penalty $8,750.00 - Copernic Global Fund Limited (2016-06-10)FSCNotice
Administrative Penalty $9,000.00 - MG Management Services Limited (2015-03-17)FSCNotice
Administrative Penalty $900.00 - ARBITRAL INTERNATIONAL CORPORATION (2016-04-15)FSCNotice
Administrative Penalty $97,000.00 - Colonial Insurance (BVI) Limited (2015-11-12)FSCNotice
Administrative Penalty $980.00 - Lumix Agrodirect Fund Ltd. (2015-11-20)FSCNotice
Administrative Penalty $980.00 - SEABOARD FUND LIMITED (2016-09-23)FSCNotice
Administrative Penalty in the total amount of $175,000 and Warning Letters - SHRM TRUSTEES (BVI) LIMITED (2026-05-01)FSCNotice
American Great Lakes Insurance Company Limited - Public Statement No. 4 of 2011 (2011-09-19)FSCNotice
Anti-Money Laundering and Terrorist Financing (Amendment) Code of Practice, 2022FSCCode
Anti-Money Laundering and Terrorist Financing (Amendment) Code of Practice, 2023FSCCode
Anti-Money Laundering and Terrorist Financing Code of Practice (Revised 2020)FSCCode
BVI Business Companies (Amendment) Regulations, 2024FSCRegulation
BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025 (S.I. No. 63 of 2025)FSCRegulation
Beneficial Ownership Secure Search System (Fees) Regulations (Revised 2020)FSCRegulation
Crouch Services Ltd. - Public Statement No. 10 of 2012 (2012-07-05)FSCNotice
Economic Substance Suspended Late Penalties (2026-05-19)ITANotice
Financial Investigation Agency (Amendment) Act, 2024FSCAct
Financial Services (Administrative Penalties) (Amendment) Regulations, 2025FSCRegulation
Financial Services (Administrative Penalties) Regulations (Revised 2020)FSCRegulation
Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2024FSCRegulation
Financial Services (Prudential and Statistical Returns) (Amendment) Order, 2021FSCRegulation
Financial Services (Prudential and Statistical Returns) Order (Revised 2020)FSCRegulation
Financial Services Commission (Amendment) Act, 2021FSCAct
Financial Services Commission (Amendment) Act, 2022FSCAct
Financial Services Commission (Amendment) Act, 2024 (No. 22 of 2024)FSCAct
Financing and Money Services (Amendment) Act, 2020FSCAct
Financing and Money Services Act (Revised 2020)FSCAct
Fine $4,000.00 - Archway Commodities Ltd. (2015-05-10)FSCNotice
Fine $4,000.00 - BH Feeder Inc. (2015-05-10)FSCNotice
Fine $4,000.00 - Wessex Capital Limited (2015-05-10)FSCNotice
Great Oak Insurance Company Limited - Public Statement No. 9 of 2012 (5 July, 2012)FSCNotice
Guidelines and Operating Procedures of the Enforcement Committee (FSC/G050)FSCProcedure
Hove Insurance Company Limited - Public Statement No. 2 of 2012 (5 June, 2012)FSCNotice
IAI Underwriting Ltd. - Public Statement No. 8 of 2012 (2012-07-05)FSCNotice
Insolvency Practitioners Regulations (Revised 2020)FSCRegulation
International Tax Authority (Administrative Penalties) Regulations, 2023 (SI No. 92 of 2023)ITARegulation
Limited Partnership (Amendment) Act, 2024 (No. 23 of 2024)FSCAct
Mutual Legal Assistance (Tax Matters) (Fees) Order, 2024ITARegulation
Non-Profit Organisations Act, 2012FSCAct
Penalty of a Fine ($30,000) - Intertrust Corporate Services (BVI) Limited (2023-03-08)FSCNotice
Penalty of a fine $35,000 - ILS FIDUCIARY (BVI) LIMITED (2023-01-13)FSCNotice
Public Statement - Bayswater Insurance Management Limited (2015-04-14)FSCNotice
Public Statement No. 5 of 2010 (21 December, 2010)FSCNotice
Public Statement No. 6 of 2010 (21 December, 2010)FSCNotice
Public Statement No. 7 of 2010 (21 December, 2010)FSCNotice
Public Statement No. 8 of 2010 (21 December, 2010)FSCNotice
Public Statement No. 9 of 2010 (2010-12-21)FSCNotice
Revocation of Licenses/Certificate - AMCA Insurance & Reinsurance Company Ltd (2012-12-06)FSCNotice
Segregated Portfolio Companies (BVI Business Company) Regulations, 2018 (SI 2018 No. 6)FSCRegulation
Segregated Portfolio Companies (Insurance) Regulations, 2018FSCRegulation
Settlement Casualty Corp - Public Statement No. 3 of 2012 (5 June, 2012)FSCNotice
Stafford Insurance Ltd. - Public Statement No. 7 of 2012 (2012-07-05)FSCNotice
State Mutual Insurance Co. Ltd - Public Statement No. 6 of 2012 (2012-07-05)FSCNotice
The BVI Financial Services Commission Outlines Priorities for its New Enforcement PhilosophyFSCRegulatory Policy
Vessia Insurance Company Limited - Public Statement No. 4 of 2012 (2012-06-05)FSCNotice
Warning Letter - Asialink Trust Limited (2013-10-04)FSCNotice
Warning Letter - Fulcrum Management Limited (2012-10-23)FSCNotice
Warning Letter - G.S.L. Law & Consulting Limited (2014-12-15)FSCNotice
Warning Letter - Intac (BVI) International Investments Limited (2014-01-12)FSCNotice
Warning Letter - Isocrates Limited (2013-12-04)FSCNotice
Warning Letter - Lumen Asset Management Limited (2014-05-30)FSCNotice
Warning Letter - Midland Trust Limited (2013-12-23)FSCNotice
Warning Letter - Quam Asset Management (BVI) Ltd. (2014-06-03)FSCNotice
Warning Letter - Sail Flagship Management Limited (2014-06-03)FSCNotice
Warning Letter - Salamander Associates Limited (2012-02-24)FSCNotice
Western Preferred Life Assurance Limited - Public Statement No. 5 of 2012 (11 June, 2012)FSCNotice