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Legal Developments worldwide

Securities and Investment Business Act, 2010

July 2010 - Finance. Legal Developments by Ogier .

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With the enactment of the Securities and Investment Business Act, 2010 (“SIBA”) in the BVI, which came into force on 17 May 2010, the regulation of the BVI’s financial services industry has undergone a number of significant changes. These changes may affect your BVI entities.

Transitional provisions exist under SIBA and the secondary legislation which accompanies it to facilitate the smooth transitioning of existing BVI entities into the new regulatory regime. Importantly, the regulatory changes brought about by SIBA will affect both existing licensed entities, such as funds and investments managers and also BVI entities which are currently unregulated but will now be required to be licensed under SIBA.

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