Premier Dr. the Honourable Natalio Wheatley hosted a Financial Services Roundtable in London where more than two dozen Financial Services London Circle practitioners attended to discuss various topics related to the legislative reform for the BVI’s financial services industry.
The high-level panel comprised of BVI Financial Services Commission Managing Director and CEO Mr. Kenneth Baker; Director of Policy Research and Statistics Mr. Cherno Jallow, KC; Director of the International Tax Authority Ms. La Toya James; and CEO of BVI Finance Ms. Elise Donovan; and was moderated by BVI Financial Secretary Mr. Jeremiah Frett.
Among other topics discussed were public registers of beneficial ownership, the Virtual Assets Service Providers Act, tax and financial periods, sanctions, economic substance and preparing for the IMF assessors arrival in the Territory in March 2023.
Premier Dr. the Honourable Natalio Wheatley also gave an update on the state of the BVI’s industry and regulatory developments stating that the BVI is continuing to evolve at pace.
“Looking to the regulatory landscape, 2023 promises to be a particularly important year for the reputation of our jurisdiction, as we look to strengthen the BVI’s continued commitment to international standards…The legislative reforms are part of the BVI’s continual assessment of the financial services regime to better respond to changing global dynamics and the needs and suggestions of players within the BVI financial services industry, and to comply with international standards, particularly in the fight against financial crime,” said Premier Wheatley.
The roundtable discussion was one of several meetings held during Premier Wheatley and his delegation’s official visit to London this week.
He continued that the BVI Government is moving ahead with marketing plans to showcase the best of the BVI’s financial services proposition- with a focus on the core markets and opportunities for growth.
“At the same time, we will continue to educate and inform our stakeholders on the role the BVI plays in the global economy [and] on that note, I am excited to let you know that we will be launching our much-anticipated new report entitled, Beyond globalisation: The British Virgin Islands contribution to global prosperity in an uncertain world’. This report is our latest piece of evidence-based research that will continue to explain and educate key audiences on the positive role that the BVI plays. BVI Finance will let you know about our plans for the launch to follow,” said Premier Wheatley.
The roundtable discussion was one of several meetings held during Premier Wheatley and his delegation’s official visit to London this week.
For further information please contact:
Adrianna Soverall
Marketing and Media Relations Coordinator
asoverall@bvifinance.vg|Tel: 284-852-1957