ANTIGUA--(BUSINESS WIRE)--Davos International Bank received a positive rating from the Financial Services Regulatory Commission, during their most recent annual evaluation by the laws of Antigua & Barbuda. This evaluation reviewed financial and accounting standards described in the IBC Act (international Banking Corporations), financial indexes and policies developed to prevent money laundering and terrorist financing.
The Financial Services Regulatory Commission – FSRC- is the international body responsible for the regulation and supervision of all financial institutions licensed under the IBC Act Law (International Business Corporations Act).
The Supervisor of International Banks and Trust Corporations of the Financial Services Regulatory Commission, stated the rating had been "satisfactory," according to the evaluation ranges used for this purpose.
In this regard, the senior management of Davos International Bank, LTD. commented: “We are very proud of this achievement, which adds to the satisfactory rating obtained last year. This certification is only the result of the effort and commitment of the team in maintaining the highest standards of quality service with our customers."
The positive results derived from the control procedures set by the top management of the institution, are added to the decision of the Supreme Court of Antigua regarding the lawsuit filed by Davos International Bank for $8.5 million against executives of Barnett Capital Bank Andrés Sotillo, Rodrigo Fernández Tinoco and Jose Daniel Carrillo. This lawsuit comes as the result of an internal investigation conducted by the Bank’s Board of Directors, which lasted just over a year and ended with the audit report certified by the firm Casin & Associates. The opinion issued by the highest legal authority of Antigua and Barbuda accused Rodrigo Fernández Tinoco, Andrés Sotillo and Osleidys Estrada of corporate fraud and breach of their ethical obligations and standards of financial performance when working for Davos International Bank.
Davos International Bank is one of the corporate partners of Davos Financial Group, presided by businessman David J. Osío. Davos Financial Group is engaged in financial advisory, and partners with renowned international firms.
Davos International Bank has been a recognized banking institution since its inception in 2002, by offering a range of financial solutions tailored to their customers’ needs.
Through its platform, Davos International Bank offers a wide range of highly competitive products, typical of commercial banks, but with the philosophy and uniqueness of Investment Banking. It specializes in corporate, personal, commercial and institutional.
