Regulatory Alerts2025-12-31
Financial Services (Administrative Penalties) (Amendment) Regulations, 2025
The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the principal Financial Services (Administrative Penalties) Regulations of 2020. The amendments modify limitation periods for issuing penalty notices, correct cross-references within the regulations, and significantly increase the financial penalties for late filing or notification of required documents. Additionally, the regulations update the penalty structure for other unspecified contraventions to ensure stricter enforcement against licensees.
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