Enforcement Action

Enforcement Action: Administrative Penalty $10,000.00
Name of Entity: COVERDALE TRUST SERVICES LIMITED
Date of Action: 8/21/2015

An administrative penalty in the amount of $10,000.00 was imposed on COVERDALE TRUST SERVICES LIMITED  for its contraventions of the following sections of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008:

a)      section 20(2) and 20(4) for failing to engage in proper enhanced customer due diligence; and

b)      section 21(1) and (2) for failing to review and keep up to date customer due diligence information in the required manner.