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BVI Signs MoU with Gibraltar - Press Release No. 3 of 2015

Press Release No. 3 of 2015

1 September, 2015

PRESS RELEASE

BRITISH VIRGIN ISLANDS FINANCIAL SERVICES COMMISSION SIGNS MOU WITH GIBRALTAR FINANCIAL SERVICES COMMISSION

Tortola, British Virgin Islands – 1 September, 2015 – The British Virgin Islands Financial Services Commission (FSC) has today confirmed that it signed a Memorandum of Understanding (MoU) with the Gibraltar Financial Services Commission in relation to the supervision of Managers of Alternative Investment Funds (AIFMs) that would allow BVI regulated funds and Gibraltar regulated funds to do business in both jurisdictions. 

The MoU, which was signed by Managing Director/CEO of the FSC, Robert Mathavious and CEO of the Gibraltar Financial Services Commission, Samantha Barrass on 13 July, allows for the exchange of information between the BVI and Gibraltar on matters related to the supervision and oversight of AIFMs, their delegates and depositaries that operate in both jurisdictions.   

The MoU clearly outlines the scope of cooperation and how information will be exchanged between the regulators and details how requests for assistance will be executed, how the information can be used, confidentiality, further sharing of information and provisions for cross-border on-site visits.

For more information on the recently signed Memorandum of Understanding with Gibraltar or the supervision of Alternate Investment Funds, please contact the Acting Director, Investment Business, Mr. Glenford Malone via email maloneg@bvifsc.vg or by telephone 494-4190.

Notes to Editor:

1.         The British Virgin Islands Financial Services Commission signed a Memorandum of Understanding with the European Securities and Markets Authority in May 2013 which allowed the BVI Mutual Fund Industry to market its products in the European Union.  To date, the FSC has signed 27 MoUs signed in relation to the supervision of Managers of Alternate Investment Funds.

2.         To view this MoU and others executed by the FSC, please visit the Publications section of the FSC’s website at www.bvifsc.vg.

About the British Virgin Islands Financial Services Commission

The BVI Financial Services Commission is an autonomous regulatory agency responsible for the regulation and supervision of financial services conducted in and from within the Territory. 

Investment Business activities in the Territory are governed primarily by the Securities and Investment Business Act, 2010 (SIBA) which is administered by the BVI FSC. 

For further information, please contact:

Corporate Communications

BVI Financial Services Commission

Pasea Estate, Tortola, British Virgin Islands

Tel:     (284) 494-4190

Fax:     (284) 494-5016

Email: corpcomm@bvifsc.vg
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Contact Information

British Virgin Islands Financial Services Commission


Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.
commissioner@bvifsc.vg