BVI Finance COI report no big issue for financial services

TORTOLA, British Virgin Islands, May 1, 2022  — BVI Finance says the recent US arrest of Premier Andrew A. Fahie (pictured above) and others as well as the publication of the Commission of Inquiry (COI) report into the governance of the British Virgin Islands (BVI), should not be conflated with the BVI financial services sector, which is operationally independent.

BVI Governor John Rankin confirmed again when announcing details of the COI report during the weekend that this was “not an investigation into the BVI’s financial services sector.”

He offered his “continued support for the work of the BVI’s Commercial Court, the Financial Services Commission and other regulatory bodies that continue to operate as normal acting in accordance with international regulatory standards and a robust English Common Law framework.”

Not disrupting BVI Finance

The Governor went on to welcome the BVI’s “continued good cooperation with law enforcement agencies in the financial (services) field.

He also mentioned the steps being taken with regard to the introduction of publicly accessible beneficial ownership registers.

“BVI Finance welcomes these remarks and the jurisdiction will continue to offer its products and services as a respected world-class international financial centre,” says a media release. Source: BVI Finance /PRNewswire More @WorldFuture