Regulatory Alerts2020-06-17
Financial Services (Fees) (Amendment) Regulations, 2020
The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the fee schedule under the Financial Services Commission Act, 2001. The amendments increase the annual renewal fee for private investment fund recognition from 500 to 1,000 US dollars and introduce new fees for applications and approvals related to the Regulatory Sandbox. These changes were gazetted on June 10, 2020, with specific provisions commencing on July 1, 2020, or upon the enforcement of the Financial Services (Regulatory Sandbox) Regulations, 2020.
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