Regulatory AlertsInsolvency Practitioners Regulations (Revised 2020)
The Financial Services Commission of the Virgin Islands issues these regulations to govern the licensing, conduct, and oversight of insolvency practitioners. The rules mandate specific application procedures, fee structures, and record-keeping obligations while establishing a framework for administrative penalties and complaint handling. Furthermore, the regulations empower the Commission to enforce compliance through inspections, security variations, and the suspension or revocation of licenses for unfit practitioners.
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