Financial Services (Prudential and Statistical Returns) Order (Revised 2020)

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 79 Revision Date: 1 Jan 2020 [Statutory Instrument] FINANCIAL SERVICES (PRUDENTIAL AND STATISTICAL RETURNS) ORDER ARRANGEMENT OF SECTIONS
SECTION

1. Short title
2. Interpretation
3. Objectives
4. Filing returns
5. Period for filing returns
6. Extension for filing returns
7. Rectification of filed returns
8. Electronic filing of returns
9. Application of guidelines
10. Penalties
    SCHEDULE 1: Statistical Return for Mutual Funds
    SCHEDULE 2: Prudential Return for Banks
    SCHEDULE 3: Prudential Return for Fudiciary Services Business
    SCHEDULE 4: Notification by Regulated Person to Rectify Return
    SCHEDULE 5: Administrative Penalties

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 81 Revision Date: 1 Jan 2020 [Statutory Instrument] FINANCIAL SERVICES (PRUDENTIAL AND STATISTICAL RETURNS) ORDER– SECTION 56A (S.I.s 47/2009 and 29/2018) Commencement [12 November 2009] Short title

1. This Order may be cited as the Financial Services (Prudential and Statistical
   Returns) Order.
   Interpretation
2. In this Order, unless the context otherwise requires—
   “Act” means the Financial Services Commission Act; “applicable Schedule” or “relevant Schedule” refers to any of the Schedules outlined in this Order as may be applicable in relation to a regulated person; “Commission” means the Financial Services Commission established under section 3(1) of the Financial Services Commission Act; and “regulated person” means a person authorized, licensed, registered or recognized or required to be so authorized, licensed, registered or recognized under a regulatory legislation referred to in Part 1 of Schedule 1 of the Financial Services Commission Act. Objectives
3. (1) The objectives of this Order are—
   (a) to facilitate the timely preparation and submission by regulated persons of prudential and statistical returns required by the Commission in order to enable the Commission— (i) to identify any problems on a timely basis to safeguard the interests of its licensees, the financial services industry and the reputation of the Territory; and (ii) to analyse and develop relevant statistical data for use by the Commission or for public dissemination; (b) to enable the Commission to appropriately respond to requests for information consistent with its international obligations as a regulatory body or by virtue of its membership, observer status or other connection with any domestic or international institution or pursuant to any memorandum of understanding or other agreement or commitment which is consistent with its functions as a regulatory body; (c) to facilitate the Commission in the discharge of its duties or exercise of its powers under the Financial Services Commission Act; and (d) to facilitate the electronic filing of prudential and statistical returns in a more efficient manner thereby ensuring timeliness and reduced administrative costs.

Financial Services
82 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS (2) Any prudential or statistical return received by the Commission pursuant to this Order shall be used only for the purposes outlined in section 56A of the Act and in pursuance of the objectives outlined in subsection (1). Filing returns
4. (1) Every regulated person shall file with the Commission the relevant
prudential or statistical return in accordance with the requirements of the relevant
Schedule applicable in the regulated person’s case.
(2) It is the duty of every regulated person to ensure that the information contained in any prudential or statistical return filed pursuant to subsection (1) is accurate and complete. (3) A prudential or statistical return filed under subsection (1) shall not be considered to be properly filed or to be accepted by the Commission if— (a) it is not fully completed by providing all the relevant information required; (b) it contains any information that is materially inaccurate or misleading; (c) within a period of 7 days after the date it has been filed, the Commission rejects it and notifies the regulated person concerned in writing, providing the reason for the rejection; or (d) section 8(2) applies, to the extent stated therein. (4) For the purposes of— (a) subsection (3)(a), a prudential or statistical return shall not be considered to be incomplete simply on account of the absence of information which does not apply in the case of the regulated person concerned or which, on account of the regulated person not engaging in any business for any particular period, is not available; (b) subsection (3)(b), information contained in a prudential or statistical return is considered to be materially inaccurate or misleading if the Commission is satisfied that the information— (i) is wrong and cannot be relied upon for the purposes of section 56A of the Act or section 3 of this Order; (ii) has persistent errors that are not of a clerical nature; or (iii) is otherwise provided in a manner not consistent with the requirements of the applicable Schedule or any provision of this Order. (5) For the purposes of subsection (4)(a), the onus is on the regulated person that claims to be unable to provide a required information in a prudential or statistical return on account of not having engaged in business for any particular period to prove the claim to the satisfaction of the Commission and in this regard the Commission may require such information as it considers appropriate. Period for filing returns
5. (1) The period within which a prudential or statistical return must be filed by a
regulated person shall be that provided in the relevant Schedule.

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 83 Revision Date: 1 Jan 2020 [Statutory Instrument] (2) Nothing contained in this Order affects the operation of any time frame for the provision of any report, statement, return or other obligation under the Act or any regulatory legislation. Extension for filing returns
6. (1) Subject to subsections (2) and (3), the Commission may, upon written
application received from a regulated person, grant an extension for the filing of a prudential or statistical return by the regulated person for a period of up to 30 days. (2) The Commission shall not exercise the power conferred under subsection (1)— (a) unless the written application for extension of time is received by the Commission at least 7 days before the date of expiry of the period stipulated in the applicable Schedule in respect of a prudential or statistical return; (b) if a prudential or statistical return required of the regulated person for any period remains outstanding prior to the date of receipt of the written application for extension of time; (c) if at the date of receipt of an application for extension of time any penalty imposed on or applicable to a regulated person remains unpaid; (d) if the reason for the written application for extension of time relates to the absence of a particular officer from office, occurrence of a vacancy, shortage of staff or pressure of work or other similar reason; or (e) if for any reason the Commission considers that it is not appropriate or in the interest of the due performance of its functions to grant an extension of time. (3) In making a decision on an application for extension of time under subsection (1), the Commission shall have regard to the following matters— (a) whether the delay in submitting a prudential or statistical return is due to an act of nature beyond the control of the regulated person, such as the occurrence of a hurricane, earthquake, tsunami or other natural cause which has affected the efficient functioning of the regulated person; (b) whether the operations of the regulated person have been adversely affected by a fire or flood on its premises or other premises at which it maintains its records and for which the regulated person is not responsible; (c) whether the records of the regulated person have been stolen or severely interfered with in a robbery, for instance, as to make it difficult to comply with the required deadline for the filing of prudential or statistical returns; (d) where audited financial statements are required but have not been received, whether there is a written confirmation from the regulated person’s auditor that the audit is incomplete and providing reason for the delay and when the audit is likely to be completed;

Financial Services
84 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS (e) the compliance culture of the regulated person and whether the regulated person is likely to comply with its obligations if granted an extension of time; (f) whether there is any other reason provided by the regulated person which the Commission considers compelling and acceptable. (4) The onus is on the regulated person that seeks to rely on any of the matters outlined in subsection (3) to provide sufficient information to the Commission in support of its written application for extension of time and the Commission may require such other information from the regulated person as it considers appropriate for the purpose of making its decision. Rectification of filed returns
7. (1) Where, after filing a prudential or statistical return, a regulated person
becomes aware that the return contains information that is inaccurate or misleading, it shall, within 5 days of becoming so aware, notify the Commission of that fact in writing in accordance with Part I of Schedule 4 and provide the accurate information. (2) Where, after receiving and accepting a prudential or statistical return filed with it, the Commission discovers or becomes aware of information in the return which it is satisfied is materially inaccurate or misleading, it shall notify the regulated person in writing of that fact and require the regulated person concerned to provide the accurate information in accordance with Part I of Schedule 4 within a period of 7 days from the date of the notification. (3) The Commission may notify the regulated person under subsection (2) in accordance with Part II of Schedule 4. (4) Subject to section 4(3), no penalty applies in respect of an inaccurate or misleading information contained in a prudential or statistical return which has been discovered or become known by the Commission after the return had been filed with and accepted by the Commission if the regulated person concerned complies with the requirements of subsection (1) or (2), as the case may be. (5) The provisions of section 6 shall not apply to this section. Electronic filing of returns
8. (1) For the purposes of sections 4, 6 and 7, a regulated person may file a
prudential or statistical return, or effect a rectification to such return, in an electronic form by utilizing the forms of the returns or rectification as outlined in the relevant Schedules and provided by the Commission on its website or through such other electronic medium as may be provided by the Commission. (2) Where information relating to a prudential or statistical return is contained in a compact disk or other electronic storage device and transmitted for the purposes of satisfying the requirements of this Order, the return to which the compact disk or other electronic storage device relates shall not be considered to be properly filed and accepted by the Commission if the Commission— (a) is unable to load onto the Commission’s systems the information contained in the compact disk or other electronic storage device; and (b) notifies the regulated person concerned in accordance with section 4(3)(c).

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 85 Revision Date: 1 Jan 2020 [Statutory Instrument] Application of guidelines
9. Where the Commission issues guidelines in relation to this Order, the guidelines
shall have effect in the application and implementation of the Order. Penalties
10. (1) A regulated person that commits the breaches outlined in the second column
of Schedule 5 is liable to the penalties prescribed in column 3 thereof. (2) In addition to any penalty imposed on a regulated person under Schedule 5, the Commission may take such other enforcement action as it deems appropriate under the Financial Services Commission Act and any applicable regulatory legislation. __________

Financial Services
86 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS
SCHEDULE 1
(Section 4)
STATISTICAL RETURN FOR MUTUAL FUNDS
The Statistical Returns in respect of 2008 are to be filed with the Financial Services Commission on or before 15 November, 2009. Thereafter subsequent Statistical Returns are to be filed with the Financial Services Commission on or before 30th June in respect of the year immediately preceding.

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 87 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
88 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 89 Revision Date: 1 Jan 2020 [Statutory Instrument] __________

Financial Services
90 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS
SCHEDULE 2
(Section 4)
PRUDENTIAL RETURN FOR BANKS
The Prudential Return is to be completed and filed with the Financial Services Commission on a quarterly basis on or before the last day of the month following the end of the relevant quarter to which the Return relates.

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 91 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
92 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 93 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
94 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 95 Revision Date: 1 Jan 2020 [Statutory Instrument] Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s.
26. TEN LARGEST MARKET LOANS
Bank Amount Related
(Y/N)
Country of office/ branch where loan booked Maturity Date (dd/mm/yyyy) Total

Financial Services
96 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS
27. TEN LARGEST DEPOSITORS
Customer Amount Related
(Y/N)
Maturity Date
(dd/mm/yyyy)
Total

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 97 Revision Date: 1 Jan 2020 [Statutory Instrument]
28. LARGE EXPOSURES TO INDIVIDUAL NON-BANK COUNTERPARTIES AND
GROUPS OF CLOSELY RELATED NON-BANK COUNTERPARTIES Customer Related Party (Y/N) Exposure at reporting date Max exposure in reporting period Longest maturity date (dd/mm/ yyyy) Amounts Overdue (Y/N) Specific provis￾ions Descript -ion of Security

Financial Services
98 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s.
29. TEN LARGEST EXPOSURES TO CENTRAL GOVERNMENTS
Country Code (see list in
“Country” Tab)
Exposure at reporting date
Maximum exposure in reporting period
Longest
Maturity Date
(dd/mm/yyyy)
Total

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 99 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
100 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s.
31. SECURITY INVESTMENTS
Type Book Value Market
Value
Net
Unrealised
Gain/(Loss)
31.1 Total Trading Securities
31.1.1. Debt
31.1.2. Equity
31.1.3.. Other
31.2
Total Investment and Held￾to-Maturity
31.2.1. Debt
31.2.2. Equity
31.2.3. Other
31.3 Other (Specify
31.3.1.
31.3.2.
31.3.3.
31.3.4.
31.3.5.
31.4 Grand Total

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 101 Revision Date: 1 Jan 2020 [Statutory Instrument] Past Due & Non-accrual loans + Other assets Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s. ASSET CATEGORY 30-89 Days Past Due 90 Days & Over Past Due Total Non￾Accruing

1. Loans to banks
2. Commercial & Industrial loans
3. Personal Loans
4. Other loans and assets
5. TOTAL
   MEMORANDA:
6. Loans to related parties

Restructured loans (current reporting period)

Financial Services
102 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS REPRICING MATURITIES – Interest Rate Sensitivity Enter amount in US dollars to the nearest thousand, omitting $000s. Sight days 8 days month 1 month months 3 – 6 Months 6 – 12 Months 1 – 5 Years Over 5 Years Non-Interest Sensitive (Assets and Liabilities) Total ASSETS Cash and deposits 2 Loans Investments Other assets Total Assets LIABILITIES & EQUITY Deposits from banks Other deposits 8 Loans Other liabilities Total Liabilites 11 Equity 12 Total Liabilites & Equity 13 Off-balance sheet items 14 Net Position

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 103 Revision Date: 1 Jan 2020 [Statutory Instrument] Off-balance sheet items (non-derivative instruments) Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s. Indirect credit instruments Book amount Risk class A: Nil B: Low C: Low-Medium D: Medium E: Full 1. Commitments 1 year & under 2. Short-term trade letters of credit 3. Commitments over 1 year 4. Transactions￾related contigencies and guarantees. 5. Direct credit substitutes, standby L/Cs, repos, forward asset purchases

Financial Services
104 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Derivative Instruments* Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s. Off-Balance Sheet Contracts Notional/Market Amounts Term to Maturity in Years 0 to 1 1 to 5 Over 5 A. Interest Rate Contracts

1. Swaps
2. Futures
3. Forwards
4. Options purchased
5. Options written
6. Other interest rate derivatives
7. Total interest rate contracts
   B. Foreign Exchange Contracts
8. Swaps
9. Futures
10. Spot and forwards
11. Options purchased
12. Options written
13. Other foreign exchange contracts
14. Total Foreign Exchange

Other Derivative Contracts (* see below)
16. TOTAL DERIVATIVES

• Please complete the next form giving the list of derivative instruments comprising this item.

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 105 Revision Date: 1 Jan 2020 [Statutory Instrument] Other Derivative Contracts List Institution Name:
Licence #:
Enter amount in US dollars to the nearest thousand, omitting $000s. Name of Derivative Contract Total Notional/Market Amount

Financial Services
106 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 107 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
108 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Zone A Countries Australia Luxembourg Austria Netherlands Belgium New Zealand Canada Norway Denmark Portugal Finland Saudi Arabia France Spain Germany Sweden Greece Switzerland Iceland Turkey Ireland United Kingdom Italy United States Japan This list is based on that used by the Basle Committee’s Capital Convergence Accord which includes those countries which are full members of the OECD, (or countries with special lending arrangements with the IMF associated with the Funds General Agreement to Borrow) but excludes any country within this group which has rescheduled its external sovereign debt in the previous 5 years. The list may be changed from time to time by the Financial Services Commission as circumstances require. Zone B comprises all other countries not included in this list.

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 109 Revision Date: 1 Jan 2020 [Statutory Instrument] Country Codes for Zones A and B Countries Country Name Code Country Name Code Afghanistan A F Bhutan B T Albania A L Bolivia B O Algeria D Z Bosnia and Herzegovina B A American Samoa A S Botswana B W Andorra A D Brazil B R Angola A O British Virgin Islands B V Anguilla A G Brunei Darussalam B N Antigua A A Bulgaria B G Argentina A R Burkina Faso (formerly Upper Volta) B F Armenia A M Burundi B I Aruba A W Cambodia (formerly Kampuchea) K H Australia A U Cameroon C M Austria A T Canada C A Azerbaijan A Z Canton and Enderbury Islands C T Bahamas B S Cape Verde C V Bahrain B H Cayman Islands K Y Bangladesh B D Central African Rep. C F Barbados B B Chad T D Belarus B Y Chile C L Belgium B E China, People’s Republic C N Belize B Z Christmas Island C X Benin B J Colombia C O Bermuda B M Comoros K M

Financial Services
110 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Country Codes for Zones A and B Countries Country Name Code Country Name Code Congo C G Finland F I Congo, Democratic Republic (formerly Zaire) C D France F R Costa Rica C R French Guiana G F Cote d’Ivoire C I French Polynesia P F Croatia H R Gabon G A Cuba C U Gambia G M Cyprus C Y Georgia G E Czech Republic C Z Germany, Federal Republic of D E Czechoslovakia, former C S Ghana G H Denmark D K Gibraltar G I Djibouti D J Greece G R Dominica D M Greenland G L Dominican Republic D O Grenada G D Ecuador E C Guadeloupe G U Egypt E G Guatemala G T El Salvador S V Guernsey G G Equatorial Guinea G Q Guinea G N Eritrea E R Guinea-Bissau G W Estonia E E Guyana G Y Ethiopia E T Haiti H T Falkland Islands F K Honduras H N Faroe Islands F O Hong Kong H K Fiji F J Hungary H U

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 111 Revision Date: 1 Jan 2020 [Statutory Instrument] Country Name Code Country Name Code Iceland I S Liberia L R India I N Libyan Arab Jamahiriya L Y Indonesia I D Liechtenstein L I Iran I R Lithuania L T Iraq I Q Luxembourg L U Ireland I E Macao M O Isle of Man I M Macedonia M K Israel I L Madagascar (Malagasy Republic) M G Italy I T Malawi M W Jamaica J M Malaysia M Y Japan J P Maldives M V Jersey J E Mali M L Jordan J O Malta M T Kazakhstan K Z Martinique M Q Kenya K E Mauritania M R Kiribati (Formerly Gilbert Islands) K I Mauritius M U Korea North, Democratic People’s Republic of K P Mexico M X Korea South, Republic of K R Moldova M D Kuwait K W Monaco M C Kyrgystan K G Mongolia M N Lao P.D. Republic L A Montserrat M S Latvia L V Morocco M A Lebanon L B Mozambique M Z Lesotho L S Myanmar, Union of (formerly Burma) M M

Financial Services
112 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Country Name Code Country Name Code Namibia N A Reunion R E Nauru N R Romania R O Nepal N P Russia R U Netherlands N L Rwanda R W Netherlands Antilles A N San Marino S M New Caledonia N C Sao Tome and Principe S T New Zealand N Z Saudi Arabia S A Nicaragua N I Senegal S N Niger N E Seychelles S C Nigeria N G Sierra Leone S L Norway N O Singapore S G Oman O M Slovakia S K Other Country Z Z Slovenia S I Pakistan P K Solomon Islands S B Palestinian Autonomy P S Somalia S O Panama P A South Africa Z A Papua New Guinea P G Spain E S Paraguay P Y Sri Lanka L K Peru P E St. Helena S H Philippines P H St. Kitts Nevis S Q Pitcairn Islands P I St. Lucia L C Poland P L St. Pierre and Miguelon P M Portugal P T St. Vincent and the Grenadines V C Qatar Q A Sudan S D

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 113 Revision Date: 1 Jan 2020 [Statutory Instrument] Country Name Code Country Name Code Suriname S R United States U S Swaziland S Z Uruguay U Y Sweden S E US Pacific Islands P U Switzerland C H US Virgin Islands U V Syria Arab Republic S Y Uzbekistan U Z Taiwan T W Vanuatu V U Tajikistan T J Vatican City State (Holy See) V A Tanzania, United Republic of T Z Venezuela V E Thailand T H Vietnam V N Togo T G Wallis and Futuna Islands W F Tonga T O Western Sahara W H Trinidad and Tobago T T Western Samoa W S Tunisia T N Yemen, The Republic of Y E Turkey T R Yugoslavia, former Y U Turkmenistan T M Zaire Z R Turks and Caicos T C Zambia Z M Tuvalu (formerly the Ellice Islands) T V Zimbabwe Z W Uganda U G Ukraine U A United Arab Emirates (incl. Dubai, Abu Dhabi) A E United Kingdom (excludes Guernsey, Isle of Man and Jersey) U K United Kingdom (includes Guernsey, Isle of Man and Jersey) G B

Financial Services
114 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS __________

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 115 Revision Date: 1 Jan 2020 [Statutory Instrument]
SCHEDULE 3
(Section 4)
PRUDENTIAL RETURN FOR FIDUCIARY SERVICES BUSINESS The Prudential Return is to be completed and filed with the Financial Services Commission on or before the last day of the month following December of each year. (Amended by S.I. 29/2018)

Financial Services
116 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 117 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
118 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 119 Revision Date: 1 Jan 2020 [Statutory Instrument]

Financial Services
120 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 121 Revision Date: 1 Jan 2020 [Statutory Instrument] __________

Financial Services
122 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS
SCHEDULE 4
(Section 7)
PART I
NOTIFICATION BY REGULATED PERSON TO RECTIFY RETURN We,…………………………………………, (name of regulated person) of ………. ………………………….. .(address) hereby notify the Financial Services Commission that we have become aware that information contained in our prudential/statistical return* filed with the Commission contains inaccurate or misleading information which we now seek to rectify as follows:
No. Relevant Return Date Filed Inaccurate/Misleading Information Provided Correct Information Dated this ………………. day of ………………………., 20… Signed: ………………………………………………………… (For and on behalf of …………………………(name of regulated person)) Please indicate below the full name, title and address of signatory ………………………………………………………………………………………… ………………………………………………………………………………………… …………………………………………………………………………………………

• Please delete as necessary

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 123 Revision Date: 1 Jan 2020 [Statutory Instrument]
PART II
NOTIFICATION BY THE FINANCIAL SERVICES COMMISSION TO RECTIFY RETURN To: ………………………………………………………………….………………….. ………………………………………………………………….………………………. ………………………………………………………………...………..………………. ……………………………..…………………………………………………………… (insert name and address of relevant regulated person) You are hereby notified that the Financial Services Commission has discovered or become aware of information contained in your prudential/statistical* return filed with the Commission on the day of ……………….., 20 ….. which may be inaccurate or misleading. Accordingly, you are directed to review the information and provide the Commission with the accurate information within 7 days from the date here of using the Form below and providing the required information thereunder:
No. Relevant Return Date Filed Inaccurate/Mislea ding Information Provided Correct Information Dated this ……… day of ……………………, 20 .

• Please delete as necessary

Financial Services
124 (Prudential and Statistical Returns) Order [Statutory Instrument] Revision Date: 1 Jan 2020 LAW OF VIRGIN ISLANDS Signed: …………………………………………………………… (For and on behalf of ………………………………..(name of regulated person)) Please indicate below the full name, title and address of signatory ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… This Notification is issued on behalf of the Financial Services Commission this……….. day of ………………………………………, 20 by: ………………...………..…………….. ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… ………………………………………………………………………………………………… (Provide name, title and signature of official issuing Notification) __________

LAW OF
VIRGIN ISLANDS
Financial Services
(Prudential and Statistical Returns) Order 125 Revision Date: 1 Jan 2020 [Statutory Instrument]
SCHEDULE 5
(Section 9)
ADMINISTRATIVE PENALTIES
Section of
Order
Breached
Category of Contravention ad Description Penalty (Maximum) 4(1) (a) Failure to file a prudential or statistical return as required by the Order (where an extension is not granted pursuant to section 6) $400 for the first 30 days, and $100 for each additional month or part thereof, during which the return remains outstanding (b) Failure to file a prudential or statistical return within the period of extension (where an extension had been granted pursuant to
section 6)
$600, and $100 for each additional month or part thereof during which the return remains outstanding 4(2) Failure to ensure that information contained in a prudential or statistical return is accurate and complete (this relates to information that is materially inaccurate or misleading) $300 7(1) Failure to notify the Commission of knowledge of inaccurate or misleading information contained in a filed return and providing accurate information within the time prescribed $700 7(2) Failure to provide accurate information as required by the Commission within the time prescribed to correct inaccurate information contained in a filed return. $700 __________