Joanna Russell

2 months ago | mondaq.com | Chris Newton |Matthew Gilbert |Joanna Russell |Christopher Capewell

On 10 December 2024, the Trustee (Amendment) Act, 2024 (the"Amendment Act") came into force in the British VirginIslands ("BVI"). The Amendment Act introduced newobligations on trustees, particularly in relation to themaintenance of beneficial ownership information. A summary of key takeaways is discussed below. Maintenance of Beneficial OwnershipInformationTrustees are now required to collect, keep, and maintainaccurate and up-to-date information on beneficial owners of thetrust.

2 months ago | mondaq.com | Christopher Capewell |Chris Newton |Joanna Russell |Matthew Gilbert

Our 2025 British Virgin Islands regulatory calendar isnow available!The 2025 BVI regulatory calendar includes key regulatory filingdates with additional guidance and background on some of theprimary regulatory regimes that apply in the British VirginIslands. For further information, please reach out to your usual MaplesGroup contact or any of the contributors listed. The content of this article is intended to provide a generalguide to the subject matter.

Dec 10, 2024 | mondaq.com | Ruairi Bourke |Matthew Gilbert |Joanna Russell

On 5 December 2024, the British Virgin Islands ("BVI") gazetted the Virgin Islands Financial Services (Miscellaneous Exemptions) (Amendment) Regulations 2024, effective retrospectively from 15 October 2024. This amendment brings significant changes to the MLRO requirements for various funds and investment managers.

Nov 29, 2024 | mondaq.com | Ruairi Bourke |Joanna Russell |Matthew Gilbert

On 15 October 2024, amendments to the Anti-Money Laundering Regulations (As Revised) ("AML Regulations"), previously published in the Gazette, came into force.

Mar 25, 2024 | mondaq.com | Joanna Russell |Ruairi Bourke

The Investment Business (Approved Managers) Regulations (As Revised) (the Approved Managers Regime) (as supplemented by the Approved Investment Managers Guidelines (As Revised) issued by the British Virgin Islands (BVI) Financial Services Commission (the FSC) came into force in the BVI in 2012 and was designed to be a regulatory ‘light' regime for qualifying investment managers and advisers who are incorporated or formed in the BVI (Approved Managers).