Introduction
Located in the heart of the Caribbean Sea, the British Virgin Islands (BVI) is a British Overseas Territory with a population of around 35,000. Despite its small size, the BVI is a major player in the international financial services industry. The BVI Financial Services Commission (FSC) is the regulatory body responsible for overseeing the financial services sector in the BVI. The FSC is committed to promoting and maintaining a high standard of financial regulation in the BVI, in order to protect consumers and investors, and to ensure the integrity of the financial system.
Image: www.bvifsc.vg
History of the FSC
The FSC was established in 1989 by the Financial Services Commission Act, 1989. The FSC is an independent statutory body that is responsible for regulating the financial services sector in the BVI. The FSC’s mandate is to ensure that the BVI’s financial services industry is conducted in a fair, orderly, and transparent manner.
Functions of the FSC
The FSC has a wide range of functions, including:
- Licensing and regulating financial services businesses
- Supervising financial services businesses
- Enforcing financial services laws and regulations
- Advising the BVI Government on financial services matters
- Promoting the BVI’s financial services industry
The FSC’s Role in the Global Financial System
The BVI is a major player in the global financial services industry. The BVI is a leading jurisdiction for the incorporation of offshore companies, and the BVI’s financial services industry contributes significantly to the BVI’s economy. The FSC plays a key role in ensuring that the BVI’s financial services industry is conducted in a fair, orderly, and transparent manner. The FSC’s work helps to protect consumers and investors, and to ensure the integrity of the global financial system.
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British Virgin Islands Financial Services Commission
Conclusion
The BVI Financial Services Commission is a key player in the global financial services industry. The FSC is committed to promoting and maintaining a high standard of financial regulation in the BVI, in order to protect consumers and investors, and to ensure the integrity of the financial system.
