Finance newsletter
The International Finance Centre, which promotes the territory’s financial services industry, launched an online monthly newsletter Friday. BVI Finance aims to “showcase how the BVI is playing a full role in the global economy, and, through a commitment to high standards, offering a sophisticated array of quality products and services in financial management for the discerning clientele,” Premier Dr. Orlando Smith wrote in the publication’s introduction. The 21-page newsletter’s July edition included articles about private sector firms’ accomplishments, changes at the Financial Services Commission and updates about recently enacted legislation. The publication is available at the IFC’s website, www.bviifc.gov.vg.
New legislation
An 84-clause amendment to the BVI Business Companies Act has become law and was Gazetted last Thursday for public viewing. The amendment, which marks the first time the act has been changed since 2004, clarifies several parts of the existing law and updates its legal definitions. The amendment details the procedures that will be undertaken at the Financial Services Commission’s Registry of Corporate Affairs when registered agents seek to make certain changes to the VI-registered companies they administer. Also Gazetted was the Employee Mobility Act, 2012, which makes it easier for public servants to transfer to positions within statutory boards and government-owned corporations.
The Moorings
Charter boat company The Moorings will hold the nine-day Interline Regatta, a sailing event for airline industry employees, beginning on Oct. 9, the company announced. The event is in its 31st year. More than 300 sailors participated in last year’s regatta, organisers said.