Regulatory Alerts2023-03-21
Financing and Money Services (Amendment) Act, 2023
The Legislature of the Virgin Islands enacted the Financing and Money Services (Amendment) Act, 2023 to amend the principal Financing and Money Services Act, Revised Edition 2020. The legislation introduces revised statutory definitions for "controlling interest" and "significant interest" to clarify ownership thresholds and influence over licensees. Additionally, it amends Sections 9 and 14 of the principal Act to include "controlling interest" alongside "significant interest" in relevant regulatory provisions.
Share