British Virgin Islands Financial Services Commission

British Virgin Islands Financial Services Commission

The British Virgin Islands Financial Services Commission (FSC) is an autonomous regulatory authority established in December 2001 through the enactment of the Financial Services Commission Act, 2001. Its primary role is to oversee the regulation, supervision, and inspection of all financial services conducted in and from within the British Virgin Islands (BVI) 

 

Key Responsibilities

The FSC is responsible for a wide range of financial services, including:

• Banking: Regulating banking institutions to ensure compliance with financial standards and practices.
• Insurance: Overseeing insurance companies and ensuring they operate within the legal framework.
• Trustee Business: Supervising trust companies to protect the interests of beneficiaries.
• Company Management: Regulating companies that provide management services to ensure they adhere to best practices.
• Mutual Funds: Monitoring mutual fund operations to safeguard investors and maintain market integrity

Objectives and Mission

The mission of the FSC is to promote a sound financial services sector in the BVI, ensuring that it operates in a manner that is transparent, efficient, and compliant with international standards. The Commission aims to foster confidence in the financial system while protecting the interests of investors and the public 

 

Recent Developments

The FSC remains vigilant in addressing compliance issues and has been proactive in responding to concerns raised by international investigative bodies regarding BVI licensees. This commitment underscores its dedication to maintaining the integrity of the financial services sector in the face of global scrutiny