"The light that comes from wisdom never goes out"
Robert Mathavious, the first managing director and CEO of the Financial Services Commission, died on Sunday, Sept. 14. He was 73 years old. Sometimes dubbed the “father of financial services” …
Continue reading “‘Father of financial services’ dies at 73”
Incorporation numbers for the first half of this year show a picture of steady growth, building on 2024’s modest recovery from the 25-year low recorded in 2023. All told, 14,008 …
The saga surrounding the collapsing Bank of Asia took a new twist Friday when the public agency that triggered its winding-down suddenly advertised for a new CEO. The job advertisement …
We were shocked to hear Opposition Leader Myron Walwyn claim convincingly last week that the government deposited more than $5 million in Bank of Asia (BVI) Limited at a time …
Continue reading “EDITORIAL: Gov’t must explain $5m Bank of Asia deposit”
Government officials should have known that Bank of Asia (BVI) Limited was failing when they deposited more than $5 million of taxpayer money in it earlier this year, Opposition Leader …
Continue reading “Walwyn slams premier over $5m Bank of Asia deposit”
The House of Assembly suspended its usual rules on Monday to introduce and pass two financial services bills designed to avoid international sanction by bringing the territory in line with …
Demands have been made for the National Bank of the Virgin Islands to do more for customers. Opposition Leader Ronnie Skelton recently raised the issue in the House of Assembly, …
A straightforward revamp of Virgin Islands business law would help combat financial crime and boost the territory’s reputation while potentially putting tens of millions of dollars in the government’s coffers, …
The number of new companies incorporated in the Virgin Islands in 2023 slumped to its lowest level for 25 years, new figures show. The tally for the final quarter of …
More companies were incorporated in the territory in the third quarter of 2023 than in the previous three months, a bright spot for a financial services sector that has grappled …
Virtual assets offer various opportunities for the Virgin Islands financial services industry, but they also bring risks and regulatory complications, panellists said last week during the second of two related …
Bank customers in the territory can look forward to better protection now that the long-promised Virgin Islands Deposit Insurance Corporation has been established, the Ministry of Finance announced last week. …
The BVI Financial Services Commission will host at least three conferences for bankers and other industry stakeholders during 2024, according to its December newsletter. The 41st Annual Conference of the …
Continue reading “Financial Services Commission gearing up for a busy 2024”
The Financial Services Commission’s website has been cloned at a similar internet address, and the agency said it is working to decommission the fake. The purpose of the fraudulent site …
Continue reading “Financial Services Commission claims its website was cloned”
An amendment before the House of Assembly would bring the territory one step closer to setting up a long-promised system of deposit insurance in the territory. The amendment to the …
Continue reading “Bill is another step toward deposit insurance”
An amendment currently before the House of Assembly seeks to give the Financial Services Commission more tools to handle banking crises and would set a long-awaited framework to bring into …
Continue reading “Bill includes framework for deposit insurance”
Incorporations toppled in the second quarter, suggesting that 2022 won’t reach the heights of 2021, according to the latest quarterly report from the Financial Services Commission. Q2 2022 saw just …
Incorporations could be on track to top last year if first-quarter trends continue, according to the latest quarterly report from the Financial Services Commission. In 2021, new incorporations in the …
An early participant in the Financial Services Commission’s regulatory sandbox regime for financial technology recently spoke out about her experiences operating in a small but growing industry in the Virgin …
THE BVI BUSINESS COMPANIES ACT, 2004 ERZULIE ENTERPRISES LIMITED (IN VOLUNTARY LIQUIDATION) Notice is hereby given that in accordance with the British Virgin Islands Business Companies Act, 2004: a) Erzulie …
In these days of increased regulations and enhanced due diligence, applying for a bank loan can be dizzying. But five bankers were on hand to demystify the process for nearly …
Amid further pressure from the European Union to demonstrate that companies registered here have “economic substance,” the Virgin Islands is introducing a new regulatory regime for private equity and other …
Continue reading “New class of funds targeted by economic substance law”
APPOINTMENT TRJ HOLDING LIMITED (In Voluntary Liquidation) Company Number: 1983166 Notice is hereby given pursuant to Section 204(1)(b) of the BVI Business Companies Act, 2004 that the Company is in …
“Digitalisation is our ticket,” Jennifer Potter-Questelles, deputy managing director of corporate services at the Financial Services Commission, said last week during the FSC’s annual Meet the Regulator forum. To help …
Continue reading “FSC to invite applications for fintech “sandbox””
Notice of Appointment of a Liquidator under Section 203 Of the BVI Business Companies Act, 2004 Janes Investments Ltd. In Voluntary Liquidation Company No.: 1593814 NOTICE is hereby given pursuant …