Regulatory Alerts2024-12-04
Financial Services (Miscellaneous Exemptions) (Amendment) Regulations, 2024
The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the Financial Services (Miscellaneous Exemptions) Regulations, 2020. The amendments exempt specific fund licensees and approved investment managers from seeking prior Commission approval to appoint a Money Laundering Reporting Officer, provided they notify the Commission within 14 days of such appointment. Additionally, the Regulations clarify that these exemptions do not relieve licensees of their obligations to perform compliance and money laundering reporting functions as required by other regulatory legislation.
Share