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International Cooperation and the Financial Services Commission

Discover the importance of international cooperation in banking and financial regulation to combat money laundering, terrorist financing, and more while upholding BVI law and preserving its reputation. Learn about key agreements and relevant authorities.

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International Cooperation and the Financial Services Commission

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  1. International Cooperationand the Financial Services Commission Dawn J. Smith Director, Legal & Enforcement Division

  2. Why? • fostering cooperation • exchange of information • banking and financial regulation/supervision • money laundering • terrorist financing • proliferation financing • corruption • serious organized crime • uphold BVI law • preserve BVI reputation

  3. Competent Authorities(FSCA – s. 32, 33C) MoU: March 2007 Financial Investigation Agency and Financial Services Commission MoU: April 2014 Authorities of Inter-Governmental Committee • Attorney General’s Chambers • BVI Airports Authority • BVI Ports Authority • Department Of Immigration • Department of Trade and Consumer Affairs • Financial Investigation Agency • Financial Services Commission • Her Majesty’s Customs • International Tax Authority • Non-profit Organisation Registration Board • Office of the Director of Public Prosecutions • Post Office • Royal Virgin Islands Police Force • Virgin Islands Shipping Registry

  4. International Regulators & AuthoritiesFSCA ss. 33C, 33D • International Organisation of Securities Commissions (IOSCO) (2002) • Regional Regulatory Authorities (2011) • European Securities and Markets Authority (ESMA) (2013) • Office of the Superintendent of Financial Institutions (Canada) (2005) • Jersey Financial Services Commission (2007) • Iceland Financial Supervisory Authority (2010) • United States Bank Regulators (2010) • Liechtenstein Financial Market Authority (2014) • National Banking and Securities Commission of the United Mexican States (2006) • Commissioner of Financial Institutions of Puerto Rico (2005)

  5. Quarter 1 Statistics

  6. Useful Reference(published by the FSC (2007; revised 2013)

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