New legislative provisions will come into force shortly in the
British Virgin Islands relating to financial services, insurance
business and financing and money services. These provisions will
provide for an enhanced platform in these areas of the financial
services industry of the BVI, once again demonstrating the
continual commitment of the BVI to ensuring its legislation
provides for first class transparent regulation which is
appropriate for the BVI as an OECD white listed jurisdiction.
Regulatory Code
The Regulatory Code 2009 (the "Code") comes into force
on February 1, 2010. The Code was enacted pursuant to the Financial
Services Commission Act, 2001 and applies to all persons holding a
licence as set out in Schedule 1 of the Code (each a
"licencee"). It contains detailed requirements in
relation to the regulation and conduct of licencees (and officers
and agents of licencees) who are conducting financial services
business in the BVI. Although some of the
