Financial Services Commission – British Virgin Islands

The British Virgin Islands Financial Services Commission (BVIFSC) is the regulatory authority responsible for overseeing financial services conducted within and from the British Virgin Islands (BVI). Established by the Financial Services Commission Act of 2001, the BVIFSC regulates, supervises, and inspects all financial services in the BVI, ensuring compliance with relevant laws and regulations.

Key Functions and Responsibilities

• Regulation and Supervision: The BVIFSC regulates a wide range of financial services, including banking, insurance, trustee business, company management, and investment services. It ensures that these sectors comply with legal standards to maintain market integrity.
• Consumer Protection: The commission is dedicated to protecting consumers by promoting transparency and fairness within the financial services industry.
• Market Integrity: By monitoring and enforcing regulations, the BVIFSC aims to prevent financial crimes such as money laundering and fraud, thereby safeguarding the reputation and stability of the BVI financial market.

Strategic Initiatives

The BVIFSC focuses on enhancing the regulatory framework to align with international standards. This includes updating regulations to address emerging financial technologies and ensuring robust anti-money laundering measures. The Commission also promotes public understanding of the financial system and its products.