Amendments To The BVI Regulatory Code

On 13 November 2019, the BVI Regulatory Code 2009 (the "Regulatory Code") was amended by the Regulatory (Amendment) Code 2019 (the "Amendment Code"), which introduced important changes to the Regulatory Code and new regulatory requirements which build upon its existing provisions.

All entities applying for a licence under any legislation included at Part 1 of Schedule 2 to the Financial Services Commission Act 2001 (the "Regulatory Legislation") will be assessed against the requirements set out in the Amendment Code. Existing licensees (i.e. those who hold a licence that was issued prior to 13 November 2019) will have until 1 July 2020 to comply with the new requirements of the Amendment Code.