Regulatory AlertsFinancial Services (Exemptions) Regulations 2020
The Virgin Islands Financial Services Commission issued these regulations to grant licensing exemptions under the Banks and Trust Companies Act for private trust companies and bare trustees. Private trust companies qualify for exemption if they conduct solely unremunerated or related trust business and maintain a registered agent holding a Class I trust licence. The regulations define compliance obligations, mandate periodic monitoring by registered agents, and preserve the Commission’s enforcement powers over exempt entities.
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