Aggregated News From Investment Management Regulators

BVI FSC VG

Trust and Corporate Services Providers’ Guide to the Prevention of ML, TF and PF

Guidance Attachment: tcsp_aml_cft_guidance_2023_revised.pdf This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

Intertrust Corporate Services (BVI) Limited

Enforcement Action Enforcement Summary: An imposed fine in the amount of $30,000.00 was levied against Intertrust Corporate Services (BVI) Limited for its contraventions of the Anti-Money Laundering Terrorist Financing Code of Practice, 2008 (the “AMLTF Code of Practice”): a. section 20(3) of AMLTF Code of Practice (Requirement to engage in Enhanced Customer Due Diligence in relation to high-risk applicants for business, customers or transactions.) This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

The Russia (Sanctions) (Overseas Territories) (Amendment) Order, 2023

British Overseas Territories Sanctions Orders in Force / Legislative Framework Action Date: 9 Mar 2023 - 00:00 Posting Date: Friday, 10 March, 2023 Attachment: the_russia_sanctions_overseas_territories_amendment_order_2023.pdf Country/Regime: Russia S.I. No: 2023 No. 291 Date Laid: Thursday, 9 March, 2023 Date Made: Wednesday, 8 March, 2023 This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

BVI FSC Newsletter: February 2023

Recent Legislation Amendments The BVI Financial Services Commission (“the Commission”) is pleased to introduce new amendment legislation that comes into force on 1st March 2023. Financial Services Commission (Amendment) Act, 2022 The Financial Services Commission (Amendment) Act, 2022 expands the functions of the Commission to include:  promoting financial stability within the Virgin Islands;  taking steps as necessary to grow the Virgin Islands as an internationally competitive financial service centre;  issuing disqualification orders against persons and exercising powers to suspend and withdraw approvals granted to persons approved and direct the removal of persons within licensees; and taking steps to prevent abuse of customers...

Insolvency (Amendment) Code of Practice, 2023

Insolvency Attachment: insolvency_amendment_code_of_practice_2023.pdf S.I. No: 2023 No. 14 This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

Insolvency (Amendment) Rules, 2023

Insolvency Attachment: insolvency_amendment_rules_2023.pdf S.I. No: 2023 No. 6 This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

Fiduciary Services Sector Report: Maintenance of Transaction Records

Publications Attachment: fiduciary_sector_report_maintenance_of_transaction_records.pdf This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

Financial Services (Fees) (Amendment) Regulations, 2023, and Virtual Assets Service Providers Act, 2022 New Fee Updates

The BVI Financial Services Commission introduces the Financial Services (Fees) (Amendment) Regulations, 2023 (the “Regulations”), gazetted on January 25, 2023 and scheduled to come into force on April 1, 2023. Of particular notice, the Schedules also contain provisions in Item No. xi relating to the Virtual Assets Services Providers Act, 2022, put into effect on February 1, 2023. The Regulations entirely repeal and replace the Schedule of regulatory fees. Registered agents and all applicants must ensure that proper fees are submitted following the Regulations update. The new Schedule of Fee Changes is outlined here. This news item was originally published by the British...

Financial Services (Fees) (Amendment) Regulations, 2023

Governance Attachment: financial_services_fees_amendment_regulations_2023.pdf This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

Guidance on Application for Registration of a Virtual Assets Service Provider

Guidance Attachment: guidance_-_application_for_vasp_registration.pdf This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

Virtual Assets Service Providers Guide to the Prevention of Money Laundering, Terrorist Financing and Proliferation Financing

Guidance Attachment: vasp_aml_cft_guidance.pdf This news item was originally published by the British Virgin Islands Financial Services Commission (BVIFSC VG). For more information, please see the Source Link.

The Virtual Assets Service Providers Act, 2022

The Financial Services Commission (“the Commission”) is pleased to introduce the Virtual Assets Service Providers Act, 2022 (“the VASP Act”), which comes into effect on 1st February 2023. The VASP Act creates the legal framework for the registration and supervision of Virtual Assets Service Providers (VASPs) operating in and from within the Virgin Islands. Through the provisions of the VASP Act, the Commission is established as the competent authority for the supervision of persons engaging in any virtual assets service. The VASP Act describes the activities that require registration through the definitions of key terms such as virtual assets, virtual assets service...

Regulator Information

Abbreviation: BVI FSC
Jurisdiction: British Virgin Islands

Recent Articles

SEC Charges Crypto Entrepreneur Justin Sun and his Companies for Fraud and Other Securities Law Violations

Eight celebrities also charged for illegal touting of Sun’s crypto asset securities The Securities and Exchange Commission today announced charges against crypto asset entrepreneur Justin Sun and t

SEC Proposes to Modernize the Submission of Certain Forms, Filings, and Materials Under the Securities Exchange Act of 1934

The Securities and Exchange Commission today proposed amendments designed to modernize its information collection and analysis methods by, among other things, proposing that a number of filings be su

SEC.gov | Statement on Electronic Filing

Today, the Commission is considering a proposal under the Exchange Act to require broker-dealers and other registrants to submit forms electronically.

ASIC suspends AFS licence of Cartesian Corporate Finance Limited

ASIC has suspended the Australian financial services (AFS) licence of Cartesian Corporate Finance Limited (Cartesian) until 25 August 2023. The licence authorises Cartesian to deal...

Completion of Recovery Certificate No. 6075 of 2022 issued against Mr. Yash Paul Jindal [Defaulter] PAN: ACDPJ8198B in the matter of GDR Issue by...

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

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