The December 2001 enactment of the Financial Services
Commission Act, 2001 established the British Virgin Islands Financial
Services Commission as an autonomous regulatory authority responsible
for the regulation, supervision and inspection of all financial
services in and from within the BVI.
Such services include insurance, banking, trustee
business, company management, mutual funds business as well as the
registration of companies, limited partnerships and intellectual
property.
As a result, the Commission now
oversees all regulatory responsibilities previously handled by the
government through the Financial Services Department.
The Commission has also been tasked
with new responsibilities including promoting public understanding of
the financial system and its products, policing the perimeter of
regulated activity, reducing financial crime and preventing market
abuse.
The establishment of the Commission
also ensures a commitment by the BVI to play its part in the fight
against cross border white collar crime while safeguarding the privacy
and confidentiality of legitimate business transactions.
For more information, please visit the Financial Services Commission Website >>