The government of the British Virgin Islands (“BVI”) and the BVI Financial Services Commission (“FSC”) – the principal financial services regulator – have progressed important initiatives in recent years that demonstrate the...more
9/25/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Blockchain ,
British Virgin Islands ,
Compliance ,
Data Protection ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Economic Sanctions ,
Electronic Fund Transfer Act ,
FinTech ,
FSMA ,
Insurance Industry ,
Investment ,
Licenses ,
Misleading Statements ,
SIBA
The Personal Information Protection Act ("PIPA") comes into full force on 1 January 2025. All organisations in Bermuda are expected to be in compliance with it by that date – time is running out!
The Privacy Commissioner...more
8/6/2024
/ AML/CFT ,
Bermuda ,
Compliance ,
Data Collection ,
Data Retention ,
Due Diligence ,
EU ,
General Data Protection Regulation (GDPR) ,
Liquidation ,
Personal Information ,
Personal Information Protection Act ,
Policies and Procedures ,
Privacy Notice Rule ,
Regulatory Requirements ,
Third-Party Service Provider ,
Training ,
UK
The following BVI legislative supplements to the Mutual Legal Assistance (Tax Matters) Act (“MLA Act”) and the International Tax Authority Act (“ITA Act”) were gazetted on 13 June 2022:
The Mutual Legal Assistance (Tax...more
10/18/2022
/ BVI Business Companies ,
Common Reporting Standard (CRS) ,
Compliance ,
Duty to Cooperate ,
Enforcement Actions ,
FATCA ,
Inspections ,
International Tax Authority ,
Ministry of Finance ,
Mutual Legal Assistance Treaties (MLAT) ,
Request For Information