The BVI Financial Services Commission on Monday marked the 10th anniversary of its establishment as an independent regulatory authority.
The body was created on Jan. 2, 2002, after the passage of the Financial Services Commission Act the previous month, according to an FSC press release.
“It is through the act that the British Virgin Islands has been able to effectively defend our record as a serious partner in the financial services world,” said Cherno Jallow, the current director of policy, research and statistics for the commission.
Mr. Jallow was among the principal drafters of the act while he was the territory’s attorney general.
Since the law took effect, the FSC has been responsible for the regulation, supervision and inspection of all financial services business conducted in the VI.
See the Jan. 6, 2012 edition for full coverage.