Financial Services Commission Korea (FSC)

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.

The Government of The Virgin Islands enacted this Act to establish an independent Financial Services Appeal Board to hear appeals against decisions of the Financial Services Commission. The legislation defines the Board's composition, appointment procedures, and strict conflict of interest requirements to ensure impartial adjudication of financial services disputes. It further outlines the procedural framework for filing appeals, including time limits, evidentiary standards, and the Board's authority to affirm, vary, or set aside Commission decisions.

The Law Revision Commissioner of the British Virgin Islands issued this consolidated statute to establish the legal framework for the incorporation, management, and operation of various company types within the jurisdiction. The Act mandates strict requirements for corporate governance, including the maintenance of registered agents, accurate registers of members and directors, and adherence to solvency tests for distributions and share acquisitions. It further regulates complex corporate structures such as segregated portfolio companies, outlines procedures for mergers and liquidations, and defines the fiduciary duties and liabilities of directors and members.

The Government of the Virgin Islands issued this revised edition to consolidate and modernize the statutory framework governing trusts, originally enacted in 1961. The Act mandates trustees to maintain accurate financial records for at least five years while granting them broad discretionary powers to invest, sell, delegate duties, and protect trust assets from improper claims. It further establishes comprehensive court powers to appoint or remove trustees, validates purpose trusts, grants income tax and registration exemptions, and clarifies trustee liability protections when dealing with third parties.

Issued by the Government of The Virgin Islands, this revised legislation establishes a specialized legal framework for trusts holding shares in local companies. It mandates that designated trustees retain these shares indefinitely and shields them from liability for business risks or declines in share value, while restricting their power to intervene in company management. The Act further permits trust instruments to dictate director appointments and removals, allows interested persons to trigger trustee intervention for valid complaints, and grants the High Court authority to order share disposals or modify traditional trust rules.

The Financial Services Commission of the Virgin Islands designates the jurisdictions listed in its schedule as recognized for regulatory purposes under the Securities and Investment Business Act. The notice authorizes the Commission to formally accept fund functionaries established in these listed jurisdictions, while also permitting approvals for functionaries from other territories that maintain effective investment regulation systems. This framework ensures compliant cross-border fund operations by aligning local regulatory requirements with recognized international jurisdictions and their qualified professionals.

Issued by the Government of the Virgin Islands, this revised consolidated legislation establishes the Virgin Islands General Legal Council to regulate and supervise the legal profession. The Act mandates strict admission criteria, including prescribed qualifications and pupillage service, while empowering the Council to set examination standards, enforce compliance with anti-money laundering rules, and oversee a Disciplinary Tribunal for professional conduct. It further standardizes practising certificates, fee structures, and cost regulations, and introduces provisions for the temporary admission of foreign legal practitioners to ensure a robust, internationally aligned regulatory framework.

The Financial Services Commission of the British Virgin Islands promulgates these regulations to establish a streamlined approval framework for investment managers, granting them licensee status while exempting them from standard licensing procedures. The framework mandates a structured application process requiring fit-and-proper declarations, prescribed documentation, and fee payments, allowing provisional operations for up to 30 days pending final approval. Approved managers must fulfill ongoing obligations including annual returns, financial statement submissions, and a $400 million assets-under-management threshold, with clear pathways for license conversion or continued operation if thresholds are exceeded.

The Government of the Virgin Islands issued this Order to establish a comprehensive framework for enforcing overseas forfeiture orders within its High Court. It authorizes the registration of external forfeiture orders from requesting countries, enabling local courts to issue restraint orders and appoint receivers to secure and manage assets pending final disposal. The legislation details evidentiary standards, procedural requirements for applications, and the conditions under which forfeited property is recovered and disposed of in accordance with international cooperation principles.

The Financial Services Commission of the Virgin Islands issues these regulations to standardize the application processes for banking, trust, and related financial services licenses. The document mandates the use of specific approved forms and guidelines for licensing, share transfers, director appointments, and the use of restricted company names. It further outlines procedural requirements for electronic filing, information disclosure, and exemptions from certain particulars for existing licensees.

The Government of The Virgin Islands issued this revised 2020 Act to consolidate and amend legislation enabling international cooperation in criminal proceedings, investigations, and the implementation of the Vienna Convention. The legislation establishes procedures for the mutual service of legal process, the exchange and transfer of evidence, and the cross-border transfer of prisoners to assist foreign investigations or proceedings. It further empowers the Attorney General and Director of Public Prosecutions to direct investigations, enforce overseas forfeiture orders, manage proceeds of drug trafficking, and exercise jurisdiction over offences committed on Virgin Islands ships.

The Government of the Virgin Islands enacted these regulations to govern patent control, expense allocation, and financial awards for inventions created by public officers. The Governor determines whether the officer or government retains controlling rights, thereby dictating who bears patenting costs and how commercial proceeds are shared. An appointed Awards Committee investigates claims and recommends financial awards, which the Governor may modify upon material changes while guaranteeing that previously paid award amounts cannot be reduced.

The Government of the Virgin Islands, through the Regional Law Revision Centre, issued this revised legislation to consolidate and modernize the territory's intellectual property framework. The Act establishes comprehensive criteria for trade mark registrability, outlines detailed application and examination procedures, and defines the scope of infringement rights for owners and licensees. It further mandates administrative maintenance of a trade mark register, grants the Registrar specific adjudicative powers, and provides clear legal pathways for opposition, revocation, invalidity, and customs enforcement of infringing goods.

The Government of the Virgin Islands issued this Act to establish a secure electronic search system for storing and retrieving beneficial ownership information across all corporate and legal entities. Registered agents must identify beneficial owners and registrable legal entities, maintain dedicated databases with prescribed data, and ensure timely updates to facilitate monitoring of economic substance requirements. The designated competent authority and law enforcement agencies can securely access these databases to conduct searches and exchange information under international agreements, while statutory protections safeguard registered agents from liability for good-faith disclosures.

The Government of the Virgin Islands promulgated these regulations to prescribe a fixed schedule of fees for patent applications, examinations, and maintenance. Applicants must pay specified charges for filing provisional or complete specifications, examiner references, sealing letters patent, and extending statutory deadlines. The schedule further outlines escalating annual renewal fees across a twelve-year patent term, plus additional charges for oppositions, searches, office copies, and agent licences.

The Government of The Virgin Islands issued this revised edition of the Proceeds of Criminal Conduct Act to consolidate laws regarding the recovery of proceeds from criminal conduct. The legislation empowers courts to make confiscation orders against defendants who have benefited from relevant criminal conduct, defining realisable property and establishing procedures for valuation and enforcement. It further criminalizes money laundering activities, including assisting others to retain benefits, acquiring proceeds, and concealing assets, while granting authorities powers for restraint, seizure, and search.

The Government of the Virgin Islands issued these revised Trade Marks Rules to consolidate procedural requirements for trademark registration under the Trade Marks Act. The Rules mandate standardized application forms, electronic filing options, and strict compliance timelines for specifications, priority claims, and Registrar notices. They establish comprehensive procedures for opposition, revocation, invalidation, classification under the Nice Agreement, and the registration of defensive, certification, and collective marks.

The Government of The Virgin Islands issued this Order to enable the enforcement of external confiscation orders from designated requesting countries under the Drug Trafficking Offences Act. It establishes procedures for proving foreign court orders, admitting certificates from appropriate authorities as evidence, and defining the roles of local courts and officials in these proceedings. The Order further modifies domestic legislation to allow for the restraint and recovery of property to satisfy overseas confiscation orders, including specific rules for currency conversion and satisfaction of debts.

The Government of The Virgin Islands issued this Statutory Instrument to designate specific countries and territories for the application of its Drug Trafficking Offences Act. The Order establishes legal mechanisms for recognizing and enforcing external confiscation orders from designated jurisdictions, including provisions for evidence authentication and currency conversion. It further defines the appropriate authorities for international cooperation and outlines how recovered property in designated countries reduces the amount payable under local confiscation orders.

The Government of the Virgin Islands issued these revised regulations to consolidate procedural rules for patent applications under the Patents Act. The document mandates specific formatting, documentation, and filing timelines for provisional and complete specifications, including convention applications. It establishes detailed procedures for opposition proceedings, fee payments, amendments, and the Registrar’s discretionary powers to ensure orderly patent grants.

The Government of the Virgin Islands issues these revised regulations to establish a tiered fee structure for registered agents utilizing the Beneficial Ownership Secure Search System. The framework mandates annual cloud and management service payments ranging from US$5,000 to US$40,000 based on the number of managed companies, with dues due annually by June 30. Additionally, it imposes escalating late-payment penalties from US$1,000 to US$10,000 and authorizes system access removal for delays exceeding 120 business days.

Enacted by the UK Parliament in 1989, this legislation consolidates prior extradition statutes and establishes a unified framework for arresting and returning individuals to foreign states, Commonwealth countries, and colonies. It defines extradition crimes based on dual criminality and minimum imprisonment thresholds, while imposing statutory restrictions against returning individuals for political offenses or where convictions were obtained in absentia. The Act mandates committal proceedings before designated courts, empowers the Secretary of State to issue authorities to proceed, and authorizes Her Majesty to regulate specific bilateral arrangements through Orders in Council.

The Government of the Virgin Islands issued this revised statutory instrument to extend and adapt the United Kingdom Copyright Act 1956 to local jurisdiction. The Order consolidates the original 1962 legislation with its 1985 amendment, systematically replacing UK-specific references with Virgin Islands authorities and currency while updating royalty rates, infringement time limits, and administrative procedures. It establishes the comprehensive legal framework for copyright protection, enforcement mechanisms, and fee structures applicable across the territory as of January 2020.

The Government of the British Virgin Islands issued this revised Act to implement a treaty with the United States for mutual legal assistance in criminal matters. The legislation designates the Attorney General as the central Authority, granting powers to execute requests, compel witnesses and evidence, authenticate documents, and transfer persons in custody. It establishes strict confidentiality rules, protects cooperating individuals from legal liability, and imposes fines or imprisonment for non-compliance with official requests.

The Virgin Islands regulator designates persons engaged in buying and selling boats, vehicles, jewellery, or other high-valued goods as entities vulnerable to money laundering and terrorist financing. This designation applies specifically when transactions involve accepting cash payments of $15,000 or more or the equivalent in any other currency. Designated entities are required to comply with the requirements of the Anti-money Laundering and Terrorist Financing Code of Practice.

Issued by the British Virgin Islands Financial Services Commission, these Regulations establish comprehensive regulatory frameworks for private, professional, and public mutual funds operating under the Securities and Investment Business Act. The rules mandate specific governance structures, including minimum director counts and functional independence for managers, administrators, and custodians, while introducing flexible exemption pathways and standardized valuation policies. They further prescribe rigorous financial reporting, internationally recognized audit standards, and strict prospectus disclosure requirements to ensure investor protection and regulatory compliance across all fund classifications.

Issued by the British Virgin Islands Financial Services Commission, these Regulations establish the recognition framework and ongoing compliance requirements for private investment funds. Funds must maintain at least two directors, appoint a responsible person for property management and valuation, adhere to specified international accounting and auditing standards, and submit accurate offering documents or term sheets. The Regulations mandate timely notifications for personnel changes, policy updates, and financial statement submissions within six months of year-end, while granting the Commission authority to approve extensions under exceptional circumstances.

The Virgin Islands government issued these revised regulations to establish comprehensive anti-money laundering requirements for relevant persons conducting specified financial and professional businesses. The rules mandate strict customer due diligence, including identity verification and beneficial owner identification, while defining exceptions for low-risk entities and third-party reliance. Furthermore, the regulations impose obligations for record retention, internal reporting to the Financial Investigation Agency, staff training, and the appointment of Money Laundering Reporting Officers to ensure compliance with FATF standards.

The Financial Services Commission of the Virgin Islands issued this statutory instrument to establish mandatory anti-money laundering and counter-terrorist financing standards for regulated entities and professionals. The Code requires covered persons to implement robust internal control systems, conduct comprehensive customer due diligence, and maintain detailed records of transactions and identity verification. It further mandates specific employee training, outlines reporting obligations to the Financial Investigation Agency, and defines penalties for non-compliance with these regulatory measures.

The British Virgin Islands regulatory authority issued these regulations to govern the naming conventions for limited companies under the BVI Business Companies Act. The rules specifically mandate that the name of a limited company classified as a private trust company must conclude with the designation "(PTC)". This designation must be placed immediately before one of the standard statutory endings or their permitted abbreviations as defined in section 17(1) of the Act.

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.

The Financial Services Commission of the Virgin Islands issued this statutory instrument to prescribe specific investment exchanges as recognized entities under the Regulatory Code, 2009. The notice formally lists numerous international stock and futures exchanges, including the London Stock Exchange, New York Stock Exchange, and Tokyo Stock Exchange, as approved for regulatory purposes. This designation establishes the legal standing of these global markets within the jurisdiction of the Virgin Islands as of the January 2016 commencement date.

The Government of The Virgin Islands issued this revised edition to consolidate the Drug Trafficking Offences Act and its subsequent amendments as of January 1, 2020. The legislation establishes a comprehensive legal framework for the recovery of proceeds from drug trafficking through mechanisms such as confiscation orders, restraint orders, and charging orders. It defines drug trafficking offences, outlines procedures for assessing benefits and realisable property, and criminalizes money laundering activities including concealing assets or failing to disclose suspicions.

The Financial Services Commission of the Virgin Islands issued this Order to formally recognize specific entities as custodians of bearer shares. The document designates ten international depositories and clearing corporations, including The Depository Trust Company and Euroclear, as approved custodians. The Commission retains the authority to amend the schedule to add or remove persons from the list of recognized custodians at any time.

The Government of the Virgin Islands issued these Regulations to exempt certain foreign-incorporated companies from licensing requirements under the Financing and Money Services Act. The exemption permits these entities to provide credit to up to five Virgin Islands residents, provided the borrowers cannot secure loans from local banks and the financing amount does not exceed $1,000,000. Compliance requires borrowers to submit notarized affidavits to the Commission, and providing false information constitutes a criminal offense punishable by fines or imprisonment.

The Financial Services Commission of the Virgin Islands mandates that regulated persons submit accurate prudential and statistical returns to facilitate timely risk identification and statistical analysis. The Order establishes specific filing deadlines, procedures for electronic submission, and mechanisms for rectifying inaccurate data or requesting filing extensions. Non-compliance with these reporting obligations subjects regulated entities to administrative penalties and further enforcement actions under the Financial Services Commission Act.

The Virgin Islands regulatory authority issued these regulations to grant specific exemptions under the Banks and Trust Companies Act and the Company Management Act. The rules relieve applicants for restricted Class II and III trust licenses from providing detailed officer, auditor, and financial particulars, and exempt such companies from mandatory auditor appointments. Additionally, entities providing only director, officer, and nominee shareholder services are exempt from licensing requirements, subject to specific subsidiary and reclassification conditions.

The Government of the Virgin Islands issued this Act to establish a comprehensive legal regime for the formation, regulation, and termination of limited partnerships. The legislation defines the distinct roles and liabilities of general and limited partners, mandates registration with the Registrar, and governs critical operational aspects such as registered agents, name reservation, and the handling of partnership interests. It further provides detailed procedures for mergers, consolidations, winding up, and de-registration, while ensuring compliance with insolvency laws and maintaining public registers of charges and partners.

The Virgin Islands Financial Services Commission issues these regulations to establish non-refundable fees payable for licensing and regulatory services under various financial statutes. The document mandates specific annual renewal deadlines for banks, trust companies, insurers, and securities businesses, with payments due by January, February, or March respectively. It details a comprehensive schedule of application and issuance fees in US dollars for banking, trust, insurance, and company management licenses, including tiered costs based on license class and premium volume.

The Virgin Islands regulatory authority issued the Banks and Trust Companies (No. 2) Regulations to govern the use of restricted words by non-licensees. These regulations mandate that applicants submit a sworn affidavit from a director or authorized officer alongside their application for restricted word usage. The affidavit must verify the applicant's ownership structure, confirm no intent to conduct banking or trust business, and establish a commitment to notify authorities immediately if such intentions change.

The Government of The Virgin Islands issued this revised edition of the Banks and Trust Companies Act to consolidate laws governing the licensing and control of banking, trust, and company management businesses. The legislation mandates that entities obtain valid licenses from the Financial Services Commission, prohibiting unauthorized business operations and establishing specific license categories with distinct capital and operational requirements. It further imposes strict administrative obligations on licensees, including the maintenance of financial records, appointment of auditors, and notification of significant interest transfers to ensure regulatory compliance.

The Financial Services Commission of the Virgin Islands issues these regulations to establish the framework for imposing administrative penalties on licensees for contraventions of financial services legislation. The Commission must follow a prescribed procedure involving notice and representation before determining penalty amounts based on factors such as the seriousness of the breach and the licensee's history, with specific penalty ranges defined in Schedule 1. Additionally, the regulations mandate late payment penalties for overdue fees or fines under Schedule 2, allow for appeals to the Appeals Board, and set limitation periods for enforcement actions.

The Government of The Virgin Islands issued this revised edition of the Partnership Act to consolidate and declare the law governing partnerships as of January 1, 2020. The legislation defines partnership relationships, establishes rules for determining partnership existence, and outlines the mutual rights, duties, and liabilities of partners toward third parties and each other. It further regulates partnership property, dissolution procedures, and the winding up of partnership affairs while repealing numerous obsolete provisions.

The Government of The Virgin Islands enacted this Act to establish the Financial Investigation Agency as a body corporate responsible for receiving, investigating, and disseminating information related to financial offences. The legislation empowers the Agency to freeze bank accounts for up to five days and restrict transaction completions for up to seventy-two hours to prevent money laundering and terrorism financing. It further defines the governance structure, including a Board and Steering Committee, while granting immunity to officers and protecting those who report suspicious activities in good faith from legal liability.

The Government of The Virgin Islands issued these revised regulations to consolidate statutory instruments governing the insurance sector as of January 2020. The document establishes detailed requirements for domestic business trusts, including asset maintenance, approved asset types, and trustee duties for specified foreign insurers. It further defines insurance business classes, residency criteria, and the regulatory framework for Lloyd’s syndicates operating within the jurisdiction.

The Government of the Virgin Islands issued these regulations to establish the statutory framework for licensing and approving company management activities under the Company Management Act. The document mandates specific application procedures for obtaining management licenses, approving share transfers, and appointing directors through the Financial Services Commission. It further details the approved forms, guidelines for electronic filing, and exemption criteria for entities providing only director or nominee shareholder services.

The Government of The Virgin Islands issued this revised edition consolidating the Insolvency Act as of January 1, 2020, under the authority of the Law Revision Act 2014. The legislation establishes comprehensive legal frameworks for company creditors' arrangements, administration, receivership, and liquidation procedures. It further regulates individual bankruptcy, disqualification of directors, voidable transactions, and cross-border insolvency matters.

The Government of The Virgin Islands issued this revised legislation to regulate and supervise persons carrying on financing and money services businesses. The Act mandates licensing for such activities, establishing specific classes of licenses and requiring licensees to maintain financial soundness, adequate capital resources, and strict corporate governance standards. It further empowers the Financial Services Commission to enforce compliance through supervisory provisions, audit requirements, and penalties for unauthorized operations or misleading representations.

The Financial Services Commission of the Virgin Islands issues this Order to regulate non-negotiable certificates of indebtedness required for banking and trust licenses. The regulations mandate that these certificates bear interest rates determined by the Commission and have maturity terms between six months and twenty years. Furthermore, the Order specifies that certificates are only negotiable with the Commission and may be refinanced upon maturity with mutual agreement.

The Legislative Assembly of the Virgin Islands issued the Insolvency Rules (Revised 2020) to establish comprehensive procedural frameworks for insolvency and bankruptcy proceedings. These rules govern court practice, creditors' meetings, administration, receivership, liquidation, and bankruptcy, while incorporating the Eastern Caribbean Supreme Court Civil Procedure Rules where applicable. The regulations define the powers of office holders, procedures for appointing supervisors and trustees, and mechanisms for creditor arrangements and disqualification orders.

The Government of the British Virgin Islands, designating the Financial Secretary as competent Authority, enacted this revised Act to implement international tax information exchange agreements and reporting standards. The legislation mandates financial institutions and companies to maintain records, register, file returns under the Common Reporting Standard, and submit Country-by-Country reports to facilitate automatic information sharing with requesting jurisdictions. It grants the Authority powers to request information, apply for search warrants, conduct interviews, and enforce compliance through substantial fines and imprisonment while safeguarding confidentiality.

The British Virgin Islands Financial Services Commission issued this notice to restrict the use of specific words and phrases in company names without prior written consent. The regulation prohibits the Registrar from registering any entity containing terms listed in the Schedule, which include sensitive financial and legal designations such as 'Bank,' 'Insurance,' and 'Trust.' Companies obtaining consent may utilize either the full or abbreviated forms of these restricted names as part of their official corporate identity.

The Financial Services Commission of the Virgin Islands issues this statutory instrument to regulate all licensed insolvency practitioners under the Insolvency Act. The Code establishes mandatory criteria for license eligibility, including residency, fitness and properness, specific professional qualifications, and minimum professional indemnity insurance requirements. It further mandates strict adherence to ethical principles regarding objectivity and conflicts of interest, while requiring licensees to maintain quality control procedures and complete at least 30 hours of continuing professional education annually.

The Government of the Virgin Islands issued these revised rules to standardize the procedural framework for registering United Kingdom patents within its territory. The legislation mandates that non-resident applicants appoint a local solicitor, submit specified affidavits or declarations alongside UK patent certificates, and publish formal advertisements of their applications. Furthermore, the 2014 amendments updated procedures for name and address changes, assignment deposits, and patent renewals while establishing a comprehensive schedule of prescribed fees.

Issued by the Government of the Virgin Islands and administered by the Registrar of Companies, this revised legislation consolidates patent law to establish clear procedures for securing intellectual property rights. The Act requires applicants to submit detailed specifications, undergo examiner review and public advertisement, and navigate a formal opposition process before the Governor seals letters patent. It establishes a standard twenty-year term subject to maintenance fees, while empowering the Registrar and courts to amend specifications, grant licenses, revoke patents, and adjudicate infringement claims.

The Government of the Virgin Islands issued this revised legislation to consolidate commercial arbitration by integrating the UNCITRAL Model Law with localized modifications. It establishes the BVI International Arbitration Centre to handle arbitrator appointments and specific court functions, while strictly limiting judicial intervention to expressly provided circumstances. The Act mandates fair and speedy dispute resolution through enforceable awards, clear interim measures, and flexible opt-in provisions that allow parties to tailor procedural rules.

The Virgin Islands regulatory authority issued these regulations to define the mandatory contents of key investment business registers. The rules require licensees, certified authorised representatives, and approved investment managers to record specific details including business addresses, representative information, licence or approval status, and annual fee payments. This standardized framework ensures transparent regulatory oversight of authorized entities operating under the Securities and Investment Business Act.

The Government of the Virgin Islands enacted this Act to impose substantive economic substance requirements on companies and limited partnerships conducting specific relevant activities. Legal entities must demonstrate adequate direction, management, employees, expenditure, and physical presence within the jurisdiction to comply with these standards. The legislation establishes a competent authority to assess compliance, mandates information provision, and defines penalties and appeal procedures for non-compliance.

The Government of The Virgin Islands enacted this Act to regulate and license the business of company management, including the provision of registered agent and office services. The Financial Services Commission is empowered to issue licenses, enforce capital resource requirements, and mandate the submission of financial statements and audits by licensees. The legislation further restricts the transfer of significant or controlling interests in licensed entities without prior Commission approval and establishes penalties for unauthorized operations.

The Virgin Islands Financial Services Commission issued these regulations to establish detailed operational rules for BVI business companies under the BVI Business Companies Act. The document sets strict requirements for company naming, including the registration of foreign character names and the re-use of names from dissolved or insolvent entities. It further mandates that voluntary liquidators of regulated persons be licensed insolvency practitioners and prescribes specific procedures for solvency declarations and public notices.

The Government of the Virgin Islands enacted this Act to reform the licensing, regulation, and supervision of insurance business, managers, intermediaries, and loss adjusters. The legislation establishes a comprehensive regulatory framework administered by the Financial Services Commission, mandating strict licensing requirements and prohibiting unauthorized insurance activities. It imposes detailed obligations on licensees regarding financial solvency, corporate governance, actuarial standards, and the maintenance of records to ensure market integrity and consumer protection.

The Financial Services Commission of the Virgin Islands establishes a streamlined approval framework enabling eligible BVI companies and limited partnerships to operate as approved investment managers without full licensing. Applicants must submit detailed applications, pay prescribed fees, and demonstrate fit-and-proper status before commencing operations to advise private, professional, or closed-ended funds. Approved managers remain subject to asset thresholds, compliance reporting, and annual renewal fees while retaining licensee-level regulatory oversight and enforcement powers.

Issued by the Government of the Virgin Islands and enforced by the Financial Services Commission, this Act establishes a comprehensive licensing and supervisory framework for all investment business conducted within the territory. It mandates that entities carrying on investment business obtain appropriate licences, maintain specified capital resources and corporate governance standards, and comply with advertising and conduct-of-business regulations. The legislation further consolidates regulatory regimes for public, private, professional, and foreign mutual funds while introducing strict prohibitions, compensation mechanisms, and criminal offences for insider dealing, market manipulation, and misleading disclosures.

The Financial Services Commission of the British Virgin Islands issued these Regulations to establish a comprehensive framework for incorporating, registering, and operating Segregated Portfolio Companies as mutual funds. The rules mandate detailed applications for approval, specify required functionaries such as administrators and custodians, and outline strict procedures for creating, terminating, and reinstating individual segregated portfolios. Additionally, the Regulations enforce separate or consolidated audits, require timely notifications of portfolio changes and reinstatements, and prescribe a structured schedule of fees and administrative penalties for non-compliance.

The Government of the Virgin Islands enacted this revised Act to modernize property dispositions by relaxing formal execution requirements for deeds and clarifying corporate ownership rights. The legislation validates instruments signed with witness attestation or executed under an individual’s direction, while explicitly permitting bodies corporate to hold real and personal property in joint tenancy with standard devolution rules. These provisions apply prospectively and retrospectively to all trusts, instruments, and joint tenancies, guaranteeing that pre-commencement creations remain legally valid.

The Government of the Virgin Islands, acting through the Law Revision Commissioner, issued this revised edition to consolidate and update territorial copyright law effective January 2020. The legislation establishes exclusive rights for authors and qualified persons over literary, dramatic, musical, artistic works, sound recordings, films, and broadcasts, while defining infringement through unauthorized reproduction, importation, broadcasting, and public performance. It provides comprehensive legal remedies for rights holders, codifies fair dealing exceptions for research, criticism, education, and archives, and establishes a Performing Right Tribunal to resolve licensing disputes and enforce compliance.

The Financial Services Commission of the British Virgin Islands issued this Regulatory Code to establish detailed legal requirements for the supervision of financial services businesses. The document mandates general obligations for all licensees, including licensing, fit and proper criteria, corporate governance, compliance, and risk management. It further imposes sector-specific capital, solvency, and conduct standards on banks, insurers, trust companies, money service providers, and investment business operators.

The Virgin Islands Financial Services Commission issued these regulations to establish a comprehensive recognition framework for foreign mutual funds operating locally. Recognised funds must submit detailed applications, maintain designated functionaries including a manager and administrator, adhere to international valuation and accounting standards, and comply with prospectus and audit requirements. The regulations mandate timely notifications for key appointments, structural changes, and regulatory actions, while granting the Commission discretion to approve shorter notice periods or custodian exemptions.

Issued by the British Virgin Islands Financial Services Commission under the Securities and Investment Business Act, this revised Code establishes comprehensive delegated legislation governing the operation, governance, and oversight of public funds. It mandates strict compliance with high-level principles, detailed prospectus and corporate governance standards, independent valuation processes, robust custodial arrangements, and continuous reporting obligations to the Commission. The Code carries full legal force as subsidiary legislation, empowering the Commission to enforce compliance through directives, investigations, and administrative penalties while allowing for purposive interpretation and targeted amendments.

The Financial Services Commission of the Virgin Islands establishes a streamlined regulatory framework for incubator and approved funds, granting deemed approval within two business days of receiving a complete application. These funds must adhere to strict operational and investment thresholds, including a maximum of twenty investors and net asset limits of $20 million for incubator funds or $100 million for approved funds. The regulations mandate ongoing compliance through mandatory valuation policies, director and administrator requirements, timely reporting of material changes, and clear pathways for forced or voluntary conversion into private or professional funds upon exceeding thresholds or reaching validity expiry.

The Virgin Islands regulatory authority issued these regulations to establish mandatory fees payable to the Commission for trade mark services under the Trade Marks Act. The document specifies non-refundable charges for various procedures, including applications for registration, renewals, amendments, oppositions, and the registration of trade mark agents. A detailed schedule outlines the specific USD amounts for each service type, ranging from filing fees to penalties for late renewals and requests for official copies or searches.

The Government of the Virgin Islands enacted this revised legislation to authorize the High Court to grant probate and administration directly to qualifying trust corporations. The Act defines a trust corporation as a locally incorporated or UK-constituted entity meeting specific capital, licensing, and place-of-business requirements, allowing authorized officers to execute affidavits and security on the corporation’s behalf. It establishes that representation vests directly in the corporation rather than a syndic or nominee, ensuring seamless transfer of estate interests and continuous fiduciary operations without breaching existing covenants.

The Virgin Islands Financial Services Commission issues these regulations to grant specific exemptions from compliance requirements under various financial services enactments. The rules exempt certain licensees, such as small entities and foreign-regulated firms, from appointing compliance officers or auditors, while allowing the Commission to waive audited financial statement submissions for inactive or low-cost entities. Additionally, the regulations provide exemptions for Lloyd’s intermediaries, incidental business activities, and share transfers for publicly traded companies.

The Virgin Islands regulator issued these revised regulations to establish a comprehensive schedule of statutory fees for limited partnerships. The document mandates specific fee amounts for core activities including registration, name reservation, filing notices, charge management, and restorations, with charges ranging from $25 to $2,500. It further implements a tiered annual fee structure that progressively increases based on whether payments are submitted after April 30, July 31, or October 31 of the following year.

The Government of The Virgin Islands issued this revised legislation to consolidate laws regarding dangerous or harmful drugs and related matters. The Act establishes the National Drug Advisory Council and classifies controlled substances into three schedules to regulate their importation, exportation, production, and supply. It criminalizes possession, cultivation, and drug trafficking while defining specific offences, penalties, and enforcement powers for authorities.

The Government of the Virgin Islands, through the Regional Law Revision Centre, consolidates and revises the statutory framework governing the local registration of United Kingdom patents. The Act mandates that UK patent grantees or their successors apply within three years, submitting certified specifications and Comptroller certificates to obtain a local registration certificate that confers full UK patent privileges and duration within the Territory. It establishes clear procedures for opposition, court-led revocation based on UK grounds, and the recording of assignments or transmissions to maintain local patent rights.

The Government of the Virgin Islands extends territorial protection to designs registered in the United Kingdom under the Patents and Designs Acts, granting registered proprietors equivalent privileges within the territory. The legislation limits damage recovery for infringement by exempting defendants who prove unawareness of the registration at the time of infringement, while preserving injunction proceedings. Furthermore, it empowers the High Court to declare the extent of acquired design rights or cancel registrations based on grounds applicable under current United Kingdom law.

The Government of the Virgin Islands enacted this revised legislation to establish a dedicated body corporate, the International Tax Authority, responsible for administering cross-border tax obligations and mutual legal assistance. The Act transfers existing statutory powers to the Authority, mandates a governing Board and an appointed Director for day-to-day operations, and empowers the body to issue guidelines, collect fees, and ensure compliance with international tax standards. It further establishes the Authority’s financial framework, grants immunity and confidentiality protections to its officers, and provides for staff secondments, annual reporting, and tax exemptions to facilitate efficient administration.

The Government of The Virgin Islands enacted this Act to establish the Financial Services Commission as the primary body for licensing, regulating, and developing the territory's financial services industry. The legislation defines the Commission's extensive functions, including supervising licensees, enforcing anti-money laundering standards, and exercising crisis management and consumer protection powers. It further details the governance structure, financial provisions, enforcement mechanisms, and cooperation protocols with foreign regulatory authorities.

The Bulgarian Parliament enacted the Law on Export Credit Insurance to establish the legal framework for state-backed insurance and reinsurance of commercial and political risks associated with Bulgarian exports and foreign investments. The law designates the Bulgarian Export Credit Insurance Agency (BECIA) as the sole operator, defining its governance structure, risk classification, and financial mechanisms, including state guarantees for indemnity payments. It further regulates the scope of covered risks, insurance capacity limits, and the application of EU standard agreements for cross-border transactions.

The Commission for Financial Supervision of Bulgaria regulates and supervises markets in financial instruments, investment intermediaries, and related entities to ensure investor protection and market stability. The law implements EU regulations including MiFID II, MAR, and SFDR, defining the scope of financial instruments and establishing the Commission as the competent authority for prudential and conduct supervision. It outlines specific exemptions for certain entities, such as insurers and non-financial corporations, while mandating compliance with transparency, reporting, and operational resilience standards.

The National Assembly of Bulgaria enacted the Health Insurance Act to regulate mandatory and voluntary health insurance, establishing the National Health Insurance Fund (NHIF) as the central body for managing funds and purchasing healthcare services. The legislation defines the NHIF's governance structure, including a Supervisory Council and management, while guaranteeing insured persons free access to a defined package of medical services and the freedom to choose healthcare providers nationwide. It outlines the principles of solidarity, equal access, and transparency, and details the financial mechanisms, budgeting processes, and contractual relationships between the NHIF, regional funds, and healthcare providers.

The National Assembly of Bulgaria enacted the Law on the Public Offering of Securities to regulate public offerings, regulated markets, and securities transactions while establishing the Financial Supervision Commission as the competent regulatory authority. The legislation defines securities, mandates the protection of investors, and ensures the stability and transparency of the capital market in alignment with European Union regulations. It further assigns specific supervisory powers to the Commission and its Vice-President regarding crowdfunding services and European green bonds.

The Insurance Code of the Republic of Bulgaria establishes the comprehensive legal framework governing insurance and reinsurance activities, including market access, supervision, and consumer protection. It defines the roles of insurers, reinsurers, and intermediaries while setting specific thresholds for entities excluded from single market access and outlining the regulatory powers of the Commission for Financial Supervision. The legislation ensures compliance with EU directives, particularly Solvency II, and mandates the use of the Bulgarian language for contracts and official communications within the country.

The Financial Services Commission (FSC) issued updated guidelines establishing mandatory operational standards for Management Companies administering Mauritius Global Business Companies. The framework requires rigorous Know Your Client vetting, segregated client fund management with precise interest allocation, and strict conflict of interest disclosures alongside standardized management agreements. Additionally, the guidelines introduce a new authorized bank signatory regime effective June 2026 and clarify director fiduciary duties to ensure robust regulatory compliance and client protection.

The Financial Services Commission of Mauritius has issued guidelines establishing the mandatory frequency for customer due diligence (CDD) reviews across licensed financial institutions. The document requires licensees to conduct periodic CDD assessments at prescribed intervals under the Financial Services Act and FIAMLA, while explicitly permitting more frequent reviews. These standards ensure consistent risk monitoring across the non-banking financial sector without restricting proactive compliance practices.

The Commission for Financial Supervision issues this law to regulate the public offering and trading of crypto-assets, establishing itself as the competent authority for licensing issuers and service providers under Regulation (EU) 2023/1114. The legislation mandates strict organizational requirements, asset reserve segregation for asset-referenced tokens, and enhanced fit-and-proper assessments for management and shareholders of crypto-asset service providers. It further integrates digital operational resilience testing and information reporting for crypto-asset transfers into the national regulatory framework to ensure market stability and investor protection.

The National Assembly of Bulgaria enacted this law to regulate the establishment, licensing, and supervision of Special Purpose Investment Companies (SPICs) and Securitization Companies, aligning national frameworks with EU Regulation 2017/2402. The legislation mandates strict capital requirements, governance standards, and investment restrictions for SPICs to ensure investor protection and market stability. It also defines the supervisory roles of the Financial Supervision Commission and its vice-presidents in overseeing compliance with simplified, transparent, and standardized securitization rules.

The Bulgarian National Bank and the Financial Supervision Commission establish the legal framework for the additional supervision of financial conglomerates operating in Bulgaria. The law defines financial conglomerates based on cross-sectoral activities and significance thresholds, requiring coordinated oversight of capital adequacy, risk concentration, and intra-group transactions. Competent authorities are empowered to identify such groups, determine supervisory coordinators, and apply specific calculation methods to ensure financial stability across banking, insurance, and investment service sectors.

The National Bank of Bulgaria and the Financial Supervision Commission establish additional supervision rules for financial conglomerates operating in Bulgaria to ensure systemic stability. The law defines financial conglomerates based on cross-sectoral activities and significant thresholds, requiring coordinated oversight of capital adequacy, risk concentration, and intra-group transactions. Competent authorities are empowered to identify conglomerates, determine calculation methods for capital requirements, and apply specific supervisory measures to mitigate risks arising from complex financial structures.

The Bulgarian National Assembly enacted this legislation to establish a 2% tax on insurance premiums received under contracts where the risk is located in Bulgaria, defining insurers and their appointed tax representatives as the liable parties. It mandates quarterly tax declarations and payments to the state budget, details the calculation of the tax base including adjustments for refunds, statutory fund contributions, and foreign currency conversions, and sets out procedures for tax representation by cross-border insurers. The law further prescribes administrative penalties for non-compliance, establishes accounting and record-keeping obligations, and incorporates successive amendments to align the tax framework with the Insurance Code and Bulgaria's adoption of the euro.

The National Assembly of Bulgaria enacted this law to regulate the activities of collective investment schemes, alternative investment fund managers, and other collective investment undertakings under the supervision of the Financial Supervision Commission. It establishes strict licensing requirements, minimum capital thresholds, and governance standards to ensure investor protection, market transparency, and financial stability. The legislation mandates compliance with EU regulations, including specific rules for money market funds and exchange-traded funds, while prohibiting unauthorized entities from using protected financial designations.

The Commission for Financial Supervision issued Regulation No. 77 to establish the detailed conditions and procedures for licensing asset-backed token issuers and crypto-asset service providers in Bulgaria. The regulation mandates specific application forms, documentation regarding key personnel suitability, and adherence to EU delegated regulations for license applications and notifications. It further defines ongoing obligations for internal organization, information disclosure, and notification of changes for regulated entities.

The Bulgarian National Assembly enacted this Law to establish the rules and procedures for the recovery and restructuring of credit institutions, investment intermediaries, and related financial entities in Bulgaria. It designates the Bulgarian National Bank and the Commission for Financial Supervision as the respective restructuring authorities, mandating them to prepare recovery plans, conduct early intervention, and coordinate with the Single Resolution Board and European supervisory bodies during financial distress. The legislation further requires ministerial approval for resolution measures impacting public finances, establishes independent internal units for resolution tasks, and aligns national procedures with EU Regulations 806/2014, 1024/2013, and 648/2012 to ensure financial stability and minimize systemic risks.

The Financial Supervision Commission implements EU Regulation 596/2014 to prevent and detect market abuse, including insider dealing and market manipulation, by exercising supervisory powers and imposing administrative sanctions. The law establishes strict procedures for reporting violations, ensuring whistleblower protection, confidentiality, and non-retaliation for employees who disclose information. It empowers the Commission to enforce compulsory administrative measures, such as trading bans and license revocations, while defining specific financial penalties for individuals and legal entities based on the severity and recurrence of offenses.

The National Assembly of Bulgaria enacted this law to establish accessibility requirements for specific consumer products and services, transposing Directive (EU) 2019/882 into national legislation. The statute mandates conformity assessment procedures, CE marking, and strict obligations for manufacturers, importers, and distributors to ensure market compliance and consumer safety. It further defines exemptions for undue burden and archival content while establishing oversight mechanisms and enforcement protocols for regulatory authorities.

The Commission for Financial Supervision issued these Rules to regulate the governance, financial operations, and key functions of the Guarantee Fund, including the Uninsured Motor Vehicles Fund and the Security Fund. The document mandates that insurers contribute to the Fund, establishes a management system with specific oversight bodies, and defines detailed procedures for calculating additional contributions based on market share and premium income. It further outlines the appointment, approval, and liability requirements for the Fund's governing councils and executive directors to ensure compliance with insurance code standards.

Issued by the Virgin Islands Registrar of Corporate Affairs, this revised guidance clarifies the filing and maintenance requirements for beneficial ownership information under the 2024 BO Regulations. It establishes clear identification thresholds, primarily the 10% ownership or control benchmark for companies and partnerships, while detailing how trusts and multi-layered structures are assessed. The document further outlines the Registrar’s powers to enforce compliance, grant disclosure exemptions, and manage public access to the electronic register for competent authorities and persons with a legitimate interest.

The Financial Services Commission of Jamaica issued these regulations to amend the principal investment regulations for pension funds and retirement schemes. The amendments introduce new definitions, impose stricter fiduciary duties on trustees and investment managers, and update permissible investment limits, including allowances for private company equities and foreign assets. Additionally, the rules prohibit short selling and speculative investments while establishing specific caps on leases and unsecured obligations to ensure prudent asset management.

The Securities Commission of Jamaica issued these Regulations under the Securities (Amendment) Act, 2013 to establish a comprehensive regulatory framework for collective investment schemes. The document defines key terms such as accredited investors and mandates strict registration, renewal, and operational requirements for local schemes, including the appointment of independent custodians and fit-and-proper managers. It further outlines specific exemptions for certain private issuers and investment clubs while granting the Commission authority to suspend or cancel registrations for non-compliance.

The Financial Services Commission, acting under the authority of the Minister of Finance and Planning, issued the Securities (Collective Investment Scheme) (Amendment) Regulations 2014. These regulations amend Regulation 55 of the principal 2013 Regulations by replacing the term 'twelve' with 'twenty-four'. This statutory change modifies specific timeframes or thresholds within the existing collective investment scheme framework effective from December 31, 2014.

The Banking Services Act 2014, enacted by the Jamaican Parliament, introduces the Eleventh Schedule to harmonize definitions of financial institutions and banking entities across multiple existing statutes. This legislative amendment systematically replaces references to repealed acts, such as the Banking Act and Financial Institutions Act, with the new Banking Services Act in laws including the Charities Act, Companies Act, and Securities Act. The changes ensure consistent regulatory classification for banks, merchant banks, building societies, and other licensed financial entities within the broader legal framework.

The Securities Commission of Jamaica issued these regulations to establish comprehensive conduct standards for licensed dealers and investment advisers. The rules mandate strict client relationship protocols, including identity verification, risk profiling, and segregation of client assets, while requiring licensees to maintain detailed books and records for specified periods. Additionally, the regulations enforce periodic financial reporting, professional conduct standards, and inspection powers to ensure compliance and investor protection.

The Financial Services Commission of Jamaica issued the Insurance (Amendment) Regulations 2022 to update the Insurance Regulations 2001 with enhanced solvency and capital requirements. The amendments introduce new definitions for credit ratings and investment grades while restructuring capital calculations for asset, market, and insurance risks. These changes mandate stricter capital adequacy standards and specific risk factors for insurers and foreign branches, with key provisions taking effect after December 31, 2022.

The Commission issued these regulations to establish the professional standards and valuation methodologies for appointed actuaries at life insurance companies. The rules mandate rigorous procedures for determining policy benefit liabilities, selecting appropriate actuarial assumptions, and calculating margins for adverse deviations. Additionally, the regulations require actuaries to conduct annual solvency investigations and submit Dynamic Capital Adequacy Testing reports to ensure financial stability.

The Financial Services Commission issued these regulations to amend the Insurance (Actuaries) (General Insurance Companies) Regulations, 2002. The amendments lower the minimum Solvency Capital Requirement for general insurance companies to 150% by 2023 and impose a temporary dividend cap limiting payouts to 65% of pre-tax profits until December 31, 2023. These changes were approved by the Minister of Finance and the Public Service on December 22, 2022.

The Securities Commission of Jamaica issued these regulations to establish a comprehensive regulatory framework for retail repurchase agreements, requiring dealers to conduct transactions in strict compliance with prudential standards and master agreement terms. The rules mandate rigorous client asset protection measures, including the segregation of funds in trust accounts, daily reconciliations, and the appointment of Commission-approved Trustees and custodians. Additionally, dealers are obligated to provide plain-language disclosure statements regarding risks and fees, maintain detailed records for seven years, and issue timely transaction confirmations to ensure market integrity and investor protection.

The Jamaica Financial Services Commission, with Ministerial approval, enacted regulations to govern the licensing and operational conduct of trust and corporate service providers. The rules mandate rigorous application requirements, including business plans and anti-money laundering manuals, while establishing strict corporate governance, beneficial ownership registers, and outsourcing protocols. Non-compliance with these operational standards, record-keeping duties, and audit obligations exposes licensees to significant financial penalties and potential imprisonment.

The Financial Services Commission of Jamaica is established to supervise and regulate prescribed financial institutions while promoting stability, public confidence, and international standards in the financial sector. The Act empowers the Commission to conduct annual examinations, issue directions to restrict business activities, and assume temporary management or revoke licenses of non-compliant institutions to protect customers. Additionally, the legislation outlines the Commission's governance structure, funding sources, and the constitution and procedural powers of the Appeal Tribunal for handling disputes.

The Financial Services Commission of Jamaica issued the Insurance (Actuaries) (General Insurance Companies) (Amendment) Regulations, 2011, to replace the Minimum Asset Test with a Minimum Capital Test for general insurers. These regulations mandate that insurers maintain specific capital-to-required ratios, escalating from 200% in 2011 to 250% by 2013, and require the submission of compliance reports to the Commission. The amendments update definitions, filing requirements, and appendices within the principal 2002 regulations to align with the new capital adequacy standards.

The Jamaican Parliament enacted The Insurance Act to comprehensively regulate the insurance sector by mandating corporate registration for all insurers, underwriters, and intermediaries operating within the jurisdiction. The legislation establishes stringent capital, deposit, and investment requirements while enforcing rigorous administrative, accounting, and solvency standards to protect policyholders and ensure market stability. It further details protections for long-term insurance policies, governs reserves and dividend distributions, and empowers the Financial Services Commission with broad investigative, supervisory, and enforcement authorities.

Issued by the Securities Commission of Jamaica, these regulations establish mandatory disclosure and reporting obligations for entities issuing traded securities and commercial paper. They require immediate public announcements and Commission filings for material corporate changes, prescribe strict deadlines for interim and audited financial statements, and dictate comprehensive content standards for information memoranda accompanying debt offerings. The framework further enforces minimum net asset thresholds for commercial paper issuers, restricts funding facilitation to licensed dealers, and mandates periodic quarterly and monthly liability filings while exempting specific private transactions.

The Financial Services Commission, with ministerial approval, issued these regulations to establish mandatory registration and licensing frameworks for superannuation funds, retirement schemes, trustees, administrators, investment managers, and responsible officers. The rules impose strict operational conditions, including capital adequacy, professional indemnity insurance, fit-and-proper criteria, and detailed application procedures across multiple categories. Furthermore, they mandate comprehensive periodic reporting, requiring audited financial statements, certified financial returns, annual reports, and quarterly fund status submissions within specified deadlines, while outlining clear protocols for business discontinuation and transitional compliance.

The Financial Services Commission of Jamaica issued these regulations to establish statutory requirements for appointed actuaries in general insurance companies. The rules mandate strict conflict of interest protocols, define actuarial liabilities and reserves, and prescribe specific methodologies for determining claims and policy liabilities. Actuaries are required to ensure data accuracy, adhere to generally accepted accounting principles, and submit detailed reports to the Commission regarding financial solvency and adverse conditions.

The Financial Services Commission issued these regulations under the Insurance Act to amend the Insurance Regulations, 2001. The amendments specifically delete and substitute the Fifth, Tenth, and Eleventh Schedules of the principal regulations with new forms. These changes update the required documentation for insurance compliance as approved by the Minister of Finance and Planning.

The Minister of Finance and Planning of Jamaica issued these regulations under the Insurance Act to define specific monetary limits for insurance payouts. The rules stipulate that the prescribed amount payable to a person entitled to probate or letters of administration is the lesser of two hundred and fifty thousand dollars or twenty-five percent of the sum insured. This exemption applies unless the Administrator General is legally required to apply for letters of administration regarding the deceased person's estate.

The Financial Services Commission issued these regulations to establish governance standards for superannuation funds and retirement schemes in Jamaica. The rules mandate specific board composition limits for sponsor, member, and pensioner trustees while defining strict duties for trustees, agents, sponsors, and advisors regarding conflicts of interest and fiduciary responsibility. Additionally, the regulations enforce requirements for participant meetings, record-keeping, and the timely resolution of unclaimed benefits to ensure scheme integrity.

The Financial Services Commission of Mauritius has issued the Financial Services (Family Office) Rules 2026 to establish a dedicated licensing framework for Single and Multiple Family Offices operating from or serving Mauritian families. The Rules mandate minimum asset thresholds of USD 5 million for single offices and USD 25 million aggregate (with at least USD 5 million per family) for multiple offices, while authorizing a broad range of core and ancillary wealth management services. Licensees must designate an approved regulatory agent, maintain strict asset segregation, implement comprehensive risk and cybersecurity measures, enforce conflict of interest policies, and submit annual compliance statements to ensure ongoing oversight.

The Commission requires registered associations of underwriters to submit annual financial returns, compliance certificates, and membership lists within three months of each financial year's end. The Commission may suspend an association's registration if it breaches the Act, provided it issues a written notice detailing the breach, appeal rights, and a remediation period. If the association fails to comply with the notice, the Commission may extend the deadline or immediately suspend the registration.

The Commissioner, with the approval of the Minister, issued these regulations to establish a comprehensive legal framework for the insurance industry. The document mandates registration for insurers and intermediaries while enforcing strict solvency, asset, and investment requirements to ensure financial stability. It further standardizes corporate governance, accounting practices, and agent duties to protect policyholders and maintain market integrity.

The Securities Commission of Jamaica promulgated the Securities (Collective Investment Schemes) (Amendment) Regulations 2015 to modernize the oversight framework for pooled investment vehicles. These amendments systematically replace the term "operator" with "manager" across all provisions, carve out exemptions for instruments such as pension funds, hedge funds, and timeshare schemes, and establish separate regulatory tracks for local and regulated overseas schemes. The revised rules impose stricter requirements on manager fitness, custodian jurisdiction, quarterly reporting, investor disclosures, and portfolio concentration limits, while also updating termination protocols and registration schedules.

The Securities Commission of Jamaica issued these regulations to establish prudential standards for licensees under the Securities Act. The rules mandate that licensees maintain minimum capital adequacy and leverage ratios, define Tier 1 and Tier 2 capital components, and manage credit, market, operational, and liquidity risks through specific reporting and stress testing requirements. Additionally, the regulations impose restrictions on large exposures, margin trading, and repurchase agreements to ensure financial stability and compliance.

The Securities Commission of Jamaica issued these regulations to govern the conduct of take-over bids and mergers involving public companies. The rules mandate strict disclosure requirements for offerors and offerees, including the submission of detailed bid and directors' circulars to the Commission and shareholders. Additionally, the regulations impose fiduciary duties on directors, require equal treatment of shareholders, and establish procedures for mandatory offers upon acquiring significant equity stakes.

The Securities (Licensing and Registration) Regulations, 1996 establish the mandatory application procedures for obtaining Dealer's or Investment Adviser's licences and for registering representatives under the Securities Act. The regulations prescribe specific forms, such as Form A and Form B, which require applicants to disclose comprehensive personal, financial, and professional history details including citizenship, criminal records, and past licensing status. These requirements ensure that all entities and individuals seeking authorization to trade securities or provide investment advice in Jamaica meet strict regulatory standards for integrity and financial stability.

The Securities Commission issued these regulations to establish the legal framework for licensed central securities depositories under the Securities Act. The rules define account structures, vest title in account holders, and deem them as members or owners of issuers for voting and distribution purposes. The regulations further mandate depository liability for errors, protect against negligence suits, and impose criminal penalties for unauthorized computer access or confidentiality breaches.

Issued by Jamaica's Financial Services Commission, these regulations establish comprehensive investment rules and fiduciary duties for approved superannuation funds and retirement schemes. Trustees and investment managers must maintain a written statement of investment policies, adhere to a five percent concentration limit on single-issuer exposures, and restrict investments to eligible assets such as government securities, rated corporate bonds, listed shares, and secured loans. The framework mandates fair-value asset valuation, requires prior Commission approval for acquisitions exceeding thirty percent voting control, and strictly regulates real property holdings, related-party transactions, and insurance obligations to safeguard scheme assets.

The Financial Services Commission issued these regulations under the Insurance Act to amend the Insurance (Actuaries) (Life Insurance Companies) Regulations 2001. The amendment specifically repeals regulations 16, 17, 18, and 19 of the principal Regulations. This legislative change was approved by the Minister of Finance and the Public Service on December 22, 2022.

The Securities Act establishes a compensation fund for investors suffering pecuniary loss, funded by levies on member dealers and administered by recognized stock exchanges. It imposes strict disclosure obligations on dealers and investment advisers regarding conflicts of interest in communications and mandates transparency when acting as principal in transactions with non-dealers. The legislation prohibits market manipulation, false trading appearances, and short selling without proper authorization, while enforcing margin requirements and record-keeping for offshore investments.

The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the principal Financial Services (Administrative Penalties) Regulations of 2020. The amendments modify limitation periods for issuing penalty notices, correct cross-references within the regulations, and significantly increase the financial penalties for late filing or notification of required documents. Additionally, the regulations update the penalty structure for other unspecified contraventions to ensure stricter enforcement against licensees.

The Cabinet of the British Virgin Islands issued this Order to amend the fee schedules in the BVI Business Companies Act, Revised Edition 2020. It modifies Schedule 1 by setting specific fees for filing beneficial ownership information and requests under the 2024 Regulations, while also adjusting references for existing company registrations. Additionally, the Order amends Schedule 2 to empower the Registrar to extend fee payment deadlines via published notice.

The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the fee structure for limited partnerships under the Financial Services Commission Act. The amendment modifies Part I of Schedule 1 by deleting the fee for filing beneficial ownership information, setting it to zero, and updating the description for existing limited partnership registration fees. These Regulations come into force on the same date as the BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) (No. 2) Regulations, 2025.

The Cabinet of the British Virgin Islands issued these Regulations to amend the principal Beneficial Ownership Regulations of 2024. The amendments introduce a definition for "business day," clarify exemption criteria for companies and limited partnerships, and mandate immediate filing of beneficial ownership information if exemption conditions are not met. Additionally, the rules allow registered agents or liquidators to act on behalf of beneficial owners and grant the Registrar authority to provide BO information upon written request.

The Governor’s Office, Attorney General’s Chambers, Financial Services Commission, and nine other Virgin Islands regulatory and enforcement authorities have established a formal Memorandum of Understanding to coordinate the implementation of domestic and international sanctions across financial, trade, immigration, and transport sectors. The agreement mandates structured information exchange through spontaneous notifications and formal written requests, while establishing a Sanctions Committee to oversee collaborative investigations, evidence gathering, and enforcement actions. By aligning inter-agency operations with United Nations Security Council Resolutions, UK Regulations, and FATF standards, the MOU ensures strict confidentiality, prevents sanctions evasion, and upholds the Virgin Islands’ compliance with its national and international legal obligations.

The Financial Services Commission of the Virgin Islands issued this Order to amend the Financial Services (Prudential and Statistical Returns) Order, 2020. The legislation revokes and substitutes Schedule 3 to establish a new annual return form for Trust and Corporate Services Providers, while also updating Section 10 to reference Schedule 10. The new Schedule 3 mandates detailed reporting on financial information, capital, insurance, fitness and propriety, governance, record keeping, internal audit, and specific business activities for licensees holding Class I through V trust and company management licenses.

The Financial Services Commission of Mauritius has issued guidance establishing nine non-binding principles to govern the ethical and responsible deployment of artificial intelligence across insurance, wealth management, and non-banking financial institutions. Licensees must embed fairness by design, ensure robust human oversight and continuous model monitoring, and maintain transparent data governance to mitigate bias, systemic risks, and third-party dependencies without overhauling existing regulatory frameworks. By aligning AI implementation with established risk management and internal control standards, the guidance ensures fair customer outcomes, enhances operational resilience, and supports continued innovation in Mauritius’ financial sector.

The Financial Supervision Commission issued Ordinance No. 22 to establish the specific conditions and procedures for registering and deregistering public companies, securities issuers, and securities issues in its official register. The regulation mandates that entities must meet criteria such as having an approved prospectus or satisfying specific capital and shareholder thresholds to be entered into the register as public companies or issuers. It further details the documentation requirements, application timelines, and grounds for deregistration, including insolvency or liquidation.

The Minister responsible for Financial Services in the British Virgin Islands issued this notice to formally appoint the effective date for the BVI Business Companies and Limited Partnerships (Beneficial Ownership) (Amendment) Regulations, 2025. The notice declares that these statutory instruments, designated as S.I. No. 63 of 2025, shall come into force on July 1, 2025. This action fulfills the requirement under regulation 1(2) of the Regulations to specify the commencement date via a notice published in the Gazette.

The Cabinet of the Virgin Islands issued these Regulations to amend the principal beneficial ownership rules by expanding exemption categories for subsidiaries and introducing new restriction mechanisms for unidentified beneficial owners. The amendments establish a framework allowing the Registrar to serve restriction notices that void transfers and suspend rights when beneficial ownership information is not provided, while granting legal entities the right to apply to the High Court to set aside such restrictions or order the sale of interests. Additionally, the Regulations create a new division governing access to the beneficial ownership register, restricting inspection rights to persons who can demonstrate a legitimate interest in investigating or preventing money laundering, terrorist financing, or proliferation financing.

The Cabinet of the British Virgin Islands issued this Order to amend Schedule 1 of the BVI Business Companies Act, Revised Edition 2020. The amendment introduces specific fee structures for accessing the Register of Beneficial Ownership, including a $75 charge for inspection requests and $50 fees for exemption applications. It also establishes a $75 fee for obtaining certified copies of beneficial ownership entries and sets other related filing costs to zero.

The Minister of Finance of the Virgin Islands issued a statutory instrument declaring the effective date for the Proceeds of Criminal Conduct (Amendment) Act, 2025. Exercising powers under Section 1(2) of the Act, the Minister appointed June 6, 2025, as the date on which the legislation comes into force. This notice was gazetted on June 20, 2025, formalizing the commencement of the amended legal framework.

The Financial Supervision Commission issued Ordinance No. 76 to establish the types, amounts, and calculation methods for fees collected for administrative proceedings, licensing, and regulatory oversight. The ordinance specifies fixed and variable fee structures for various financial activities, including securities issuance, investment intermediary licensing, and central securities depository operations, with significant updates effective January 1, 2026. It details specific euro amounts for services such as prospectus approval, license issuance, and qualified participation assessments across multiple EU regulatory frameworks.

The Financial Supervision Commission issues Ordinance No. 76 to establish the types, amounts, and calculation methods for fees collected for administrative procedures, licensing, and regulatory oversight. The ordinance specifies fixed and variable fee structures for various financial services, including securities trading, central securities depositories, and crowdfunding platforms, with most rates updated to take effect on January 1, 2026. It details specific euro amounts for activities such as prospectus approval, license issuance for investment intermediaries, and assessments of qualified shareholdings, ensuring fees align with projected regulatory costs.

The Governor of the Virgin Islands issued this statutory instrument to formally appoint the effective date for the Drug Trafficking Offences (Amendment) Act, 2025. Pursuant to Section 1(2) of the Act, the Governor exercised his statutory powers to declare that the legislation shall come into force on June 6, 2025. This notice serves as the official proclamation requiring all subjects to take note of and govern themselves according to the newly enacted law.

The regulatory authority issues this document to standardize occupational classifications for beneficial ownership filings. It provides a numbered catalog of 269 professional roles, spanning executive leadership to specialized technical and service trades. Updated versions released from April through June 2025 mandate consistent occupational terminology for all compliance submissions.

The Legislature of the Virgin Islands enacted this Act to amend the Proceeds of Criminal Conduct Act, Revised Edition 2020, in response to deficiencies identified in the CFATF Fourth Round Mutual Evaluation Report. The legislation significantly increases maximum penalties for various offenses, extending imprisonment terms to up to 20 years and raising fines to $1,500,000. It also introduces new investigative powers, including production orders, search and seizure warrants, and disclosure orders, to enhance compliance with international money laundering and terrorist financing standards.

The Legislature of the Virgin Islands enacted this Act to amend the Drug Trafficking Offences Act, Revised Edition 2020, in response to deficiencies identified in the CFATF Fourth Round Mutual Evaluation Report regarding money laundering and terrorist financing compliance. The legislation introduces new provisions authorizing covert operatives, expanding judicial powers for surveillance and financial investigation, and permitting controlled deliveries to facilitate drug offense investigations. Additionally, the Act increases specific fines and imprisonment terms for certain offenses and establishes a statutory duty for the Commissioner of Police to cooperate with domestic and foreign law enforcement agencies.

The Financial Services Commission of Mauritius has issued these guidelines to establish minimum capital standards for long term insurers and professional reinsurers. The stress test requirement mandates that insurers maintain assets in excess of liabilities at a level equal to the higher of their Termination and Ordinary Capital Adequacy Requirements, calculated through detailed formulaic assessments of lapse, surrender, mortality, investment, and operational risks. Non-compliance exposes licensees to regulatory directions, ensuring that sufficient capital buffers are held to absorb unexpected adverse shocks and meet future policy obligations.

The Financial Services Commission of Mauritius has issued disclosure and reporting guidelines requiring authorized collective investment schemes and closed-end funds to allocate at least two-thirds of their net asset value to ESG-focused investments. The framework mandates detailed offering document disclosures, annual sustainability reports, dedicated website updates, and independent or self-certification to verify alignment with UN Sustainable Development Goals. Funds must maintain dedicated ESG oversight, adhere to strict naming conventions, and face regulatory sanctions or removal from the official register if they fail ongoing compliance checks.

The regulator has released a phased implementation schedule mandating the systematic updating of company registers for directors, members, beneficial owners, and partners. Beginning in March 2025, entities must utilize single, batch, or global filing mechanisms to record changes, corrections, and exemption statuses across these registers. The compliance rollout concludes in July 2025, ensuring all transactional updates and exemption filings are accurately captured within the designated timelines.

The British Virgin Islands Financial Services Commission issued this handbook to establish the territory’s legal framework for international cooperation and information exchange. It outlines legislative powers, central authorities, and procedural requirements for executing mutual legal assistance across criminal, civil, tax, and regulatory matters. The document aligns BVI practices with global anti-money laundering, counter-terrorism financing, and tax transparency standards to ensure robust cross-border law enforcement.

The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued this notice to appoint the effective date for the Financial Services (Exceptional Circumstances) (Amendment) Act, 2025. Acting under the authority of Section 1(2) of the Act, the Minister formally designated February 19, 2025, as the date on which the legislation shall come into force. This statutory instrument was made on February 13, 2025, and gazetted on February 14, 2025, to ensure public notification of the commencement date.

The Minister of Financial Services, Economic Development and Digital Transformation issued this notice to appoint the effective date for the Financial Services Commission (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister formally declared that the legislation shall come into force on February 19, 2025. This declaration was made on February 13, 2025, and published in the Gazette on February 14, 2025.

The Legislature of the Virgin Islands enacted the Financial Services (Exceptional Circumstances) (Amendment) Act, 2025 to amend the principal Act of 2020. This legislation repeals sections 5 through 8 of the principal Act and removes the heading titled Administration. Additionally, it amends section 2 by deleting definitions for the Board, Chairman, EC, LSC, and Managing Director.

The Virgin Islands Financial Services Commission and Financial Investigation Agency have issued guidelines mandating that all licensed financial institutions and designated non-financial businesses implement risk-based ongoing monitoring systems for their customers, including legal persons and arrangements. Licensees must establish robust procedures to continuously assess transaction patterns, identify trigger events and red flags, verify beneficial ownership structures, and ensure board-level oversight while addressing outsourcing arrangements and sanctions compliance. These measures require staff training, data integrity checks, and targeted scrutiny of higher-risk activities to effectively mitigate money laundering, terrorist financing, and proliferation financing risks in alignment with international standards.

The BVI Financial Services Commission has issued implementation guidelines mandating that registered agents verify and file beneficial ownership details for all BVI Business Companies and Limited Partnerships. The regulations establish a ten percent ownership threshold for filing, require complete data on individuals and trusts to be submitted via the VIRRGIN system by 30 June 2025, and apply a twenty-five percent filter for public access. Entities face continuous compliance obligations, including updated filing protocols for nominee shareholders and ownership changes, with specified fees and penalties enforced for non-compliance.

The Financial Services Commission issued these rules to modify the administrative penalty settlement framework by introducing a three-stage discount table that offers licensees up to fifty percent off penalties for early settlements before an Enforcement Committee referral, twenty percent between referral and a warning notice, and ten percent thereafter. The amendments also prohibit settlement discussions when a decision notice has been issued, a review application is pending or remitted, or a prior similar settlement exists, unless the Commission determines otherwise. These rules were made on 11 June 2025 and come into operation on 1 July 2025.

The Financial Services Commission of Jamaica issued these guidelines to establish requirements for appointed actuaries valuing actuarial reserves and policy liabilities of general insurers. The document mandates specific content, structure, and filing procedures for the Appointed Actuary's Report, including detailed exhibits and supplementary tables. It outlines the regulator's review process and enforcement powers to ensure compliance with the Insurance Act and generally accepted actuarial practice.

The Financial Services Commission of Mauritius has issued the Captive Insurance (Returns) Rules 2025 to mandate standardized reporting for various captive insurance entities. The rules require pure, multi-owner, and three classes of third-party captive insurers to submit periodic returns using designated forms outlined in the accompanying schedules. These reporting obligations take effect on 29 September 2025, establishing a unified compliance framework under the Captive Insurance Act and Financial Services Act.

Issued by the Financial Services Commission of Mauritius, these Rules mandate that any entity conducting treasury management activities by way of business must obtain a Treasury Management Licence. Licensed entities may perform cash and liquidity management, foreign currency risk hedging, and money market facilitation while remaining restricted to conducting foreign exchange transactions through licensed banks or dealers. The Rules, effective 10 May 2025, require licence holders to submit detailed weekly returns covering foreign currency transactions and intercompany borrowings within one working day of each week's end.

The Financial Services Commission of Mauritius has issued the Insurance (National Insurance Claims Database) Rules 2025 to standardize the reporting, processing, and settlement of motor insurance claims through a centralized digital platform. Insurers are mandated to register and update claim details within two business days, generate claims history certificates for underwriting, and maintain strict data accuracy and security compliance. The Rules establish a monthly multilateral settlement process via the Bank of Mauritius, require dedicated bank accounts with a MUR 1 million minimum balance, and impose an annual fee of MUR 26,400 effective from 22 September 2025.

The Financial Services Commission has promulgated the Captive Insurance (Captive Insurance Business) (Amendment) Rules 2025 to align captive insurer regulations with international accounting standards by mandating IFRS 17 compliance and introducing precise definitions for contractual service margins, fulfilment cash flows, and risk adjustments. The revised rules update capital adequacy frameworks by permitting contractual service margins in available capital, requiring adequate technical provisions for incurred and remaining coverage liabilities, and enforcing substantive operational requirements including qualified personnel and proportionate expenditure. Furthermore, the amended schedule establishes standardized asset capital risk margins, underwriting capital calculations based on premiums and claims, and acceptable credit rating tiers, with full implementation scheduled for 29 September 2025.

The Financial Services Commission of Mauritius has amended its administrative penalties framework to implement a four-stage settlement discount schedule ranging from fifty percent for early resolutions to zero percent for post-remission cases. The updated rules stipulate that discounts apply exclusively to Commission-approved settlements, explicitly excluding proceedings where a decision notice has been issued, a review application is active, or the matter has been remitted for reconsideration. Furthermore, the amendment formally classifies financial crimes as serious breaches and takes effect on 24 February 2025.

The Financial Services Commission has issued the 2025 Amendment Rules to modify licensing timeframes and update fee schedules for global business corporations and authorised companies. The amendments reduce the lapse period from twelve to six months and permit licence reinstatement upon application within that new window, subject to just or reasonable cause. Updated fee tables establish tiered USD charges based on payment timing, with the rules taking effect on 1 July 2025.

The Financial Services Commission amended its 2013 Administrative Penalties framework by adding a new schedule item that mandates a Rs 5,000 daily administrative penalty for non-compliance with the statutory deadline to transmit motor claim payment instructions. This fixed penalty applies per business day of delay and directly supports the operational requirements established under the 2025 Insurance (National Insurance Claims Database) Rules. The amendment was formally enacted on 29 August 2025 and will commence operations on 22 September 2025.

The Financial Services Commission amended the Consolidated Licensing and Fees Rules 2008 to establish a two-year validity period for Personal Questionnaires, contingent upon the absence of material information changes. The updated provisions mandate fresh questionnaire submissions when material changes occur or when the Commission requires them for beneficial owners, controllers, officers, and shareholders. These licensing amendments take effect on 5 January 2026.

The Financial Services Commission of Jamaica issued these final instructions to establish the Life Insurance Capital Adequacy Test (LICAT) for life insurers and foreign branches operating in the jurisdiction. The framework mandates a minimum capital ratio exceeding 100% by defining available capital through Tier 1 and Tier 2 components and calculating required capital against asset, insurance, and operational risks. Specific methodologies are provided for determining credit, market, and insurance risk factors, including detailed rating-based weights and deductions for intangible assets and substandard investments.

The Virgin Islands Minister of Financial Services, Economic Development and Digital Transformation has issued a statutory notice to establish the effective date for the Banks and Trust Companies (Amendment) Act, 2024. Exercising authority granted under Section 1(2) of the legislation, the Minister formally appoints January 2, 2025 as the date the amended banking and trust company regulations will take effect. This commencement notice was signed on December 19, 2024, and officially published in the Government Gazette on December 27, 2024.

The Minister of Financial Services, Economic Development and Digital Transformation for the Virgin Islands, Natalio D. Wheatley, issued a Notice declaring the effective date for the Securities and Investment Business (Amendment of Schedule 1) Order, 2024. This Notice appoints January 2, 2025, as the date on which the Securities and Investment Business (Amendment of Schedule 1) Order, 2024 (S.I. No. 42 of 2024) shall come into force. This action is taken under section 1(2) of the principal Order, which grants the Minister authority to appoint its commencement date by Notice published in the Gazette.

The Minister of Financial Services, Economic Development and Digital Transformation issued this notice to appoint the effective date for the BVI Business Companies (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister declared that the legislation shall come into force on January 2, 2025. This notice was gazetted on December 27, 2024, following its signing on December 19, 2024.

The Minister of Finance of the Virgin Islands issued this notice under the Financial Investigation Agency (Amendment) Act, 2024 to appoint the effective date for the legislation. The notice declares that the Act shall come into force on January 2, 2025. This appointment fulfills the statutory requirement for the Minister to specify the commencement date via a notice published in the Gazette.

The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued this notice to appoint the effective date for the Proliferation Financing (Prohibition) (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister declared that the legislation shall come into force on January 2, 2025. This notice was made on December 19, 2024, and gazetted on December 27, 2024.

The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued Statutory Instrument 2024 No. 81 to appoint the effective date for the Insurance (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister declared that the legislation shall come into force on January 2, 2025. This notice was gazetted on December 27, 2024, following its signing on December 19, 2024.

The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued this notice to appoint the effective date for the Insolvency (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister declared that the legislation shall come into force on January 2, 2025. This notice was gazetted on December 27, 2024, following its signing on December 19, 2024.

The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued this notice to appoint the commencement date for specific provisions of the Limited Partnership (Amendment) Act, 2024. The Minister exercised powers under Section 1(2) of the Act to declare that the listed sections, including Sections 4, 5, 6(a), 10, 13, 14(c) and (d), 15, 21, 30(a)-(c) and (e), 32, 33, 39, 41, and 42, shall come into force on January 2, 2025. This statutory instrument was gazetted on December 27, 2024, following its signing by the Minister on December 19, 2024.

The Financial Services Commission of the Virgin Islands issued this Order to amend the Financial Services (Prudential and Statistical Returns) Order, Revised Edition 2020. The amendment modifies Schedule 9 by inserting a new subparagraph requiring Virtual Asset Service Providers registered under the Virtual Assets Service Providers Act to submit specific returns. This Order was gazetted on December 24, 2024, and is deemed to have come into force on December 1, 2024.

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. The amendments modify Schedule 1 of the Financial Services (Limited Partnership Fees) Regulations by deleting outdated references and inserting a new fee of fifty dollars for filing changes in beneficial ownership information. Additionally, the regulations introduce a zero-dollar fee for existing limited partnerships registering information required under sections 53A and 53B, with the provisions coming into force on January 2, 2025.

The Cabinet of the British Virgin Islands issued this Order to amend Schedule 1 of the BVI Business Companies Act, Revised Edition 2020. The amendment introduces a $75 filing fee for changes in beneficial ownership information under section 96A(8) and sets the fee for existing companies registering specific information under Part VIIA of Schedule 2 to $0. This statutory instrument was gazetted on December 24, 2024, and comes into force concurrently with the BVI Business Companies (Amendment) Act, 2024.

The Financial Services Commission and Financial Investigation Agency of the Virgin Islands have issued guidelines mandating financial institutions and designated non-financial businesses to conduct comprehensive Institutional Risk Assessments (IRAs) to mitigate money laundering, terrorist financing, and proliferation financing risks. Licensees must document, secure Board or senior management approval for, and annually update these assessments by evaluating inherent risks across products, customers, geographic locations, and delivery channels using a structured scoring framework. The guidelines require licensees to implement targeted controls, leverage technological tools for risk mapping, and maintain accessible records to ensure ongoing regulatory compliance and effective resource allocation against evolving financial crime threats.

The Financial Services Commission and Financial Investigation Agency of the Virgin Islands have issued guidelines mandating licensees to identify, verify, and maintain accurate beneficial ownership information for all applicants and customers under the Anti-Money Laundering regime. The framework establishes a 10 percent ownership or voting rights threshold for natural persons, outlines control mechanisms across companies, partnerships, and trusts, and clarifies the treatment of nominee shareholders and complex corporate structures. Licensees must implement these measures to mitigate money laundering, terrorist financing, and proliferation risks while ensuring timely reporting to competent authorities and avoiding penalties for non-compliance.

Issued by the Registrar of Corporate Affairs of the British Virgin Islands Financial Services Commission, these guidelines establish the mandatory framework for collecting and filing beneficial ownership information across BVI business companies, limited partnerships, and trusts. Legal entities must identify natural persons or corporate bodies holding ten percent or more in shares, voting rights, or overall control, and submit accurate particulars to the Registrar within prescribed deadlines. The Registrar maintains a centralized electronic register open to inspection by competent authorities and law enforcement, while retaining statutory powers to grant filing extensions, rectify entries, and impose penalties for non-compliance.

The Minister of Financial Services, Economic Development and Digital Transformation has issued a statutory notice declaring the commencement date for the Trustee (Amendment) Act, 2024. Exercising statutory powers under Section 1(2), the notice formally appoints December 10, 2024 as the effective date for all amended provisions. This declaration ensures that updated trustee regulations and fiduciary obligations become legally binding immediately upon the specified date.

The Minister of Financial Services, Economic Development and Digital Transformation issued this notice to appoint December 10, 2024, as the effective date for specific provisions of the Limited Partnership (Amendment) Act, 2024. The declaration brings into force a comprehensive list of sections from the Act, including Sections 2, 3, 6(b), 7, 8, 9, 11, 12, 14(a) and (b), 16, 17, 18, 19, 20, 22, 23, 24, 25, 26, 27, 28, 29, 30(d), 31, 34, 35, 36, 37, 38, and 40. This action fulfills the statutory requirement under Section 1(2) of the Act to commence its operation via a notice published in the Gazette.

The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued this notice to appoint the effective date for the Limited Partnership (Amendment) Regulations, 2024. Exercising powers under Section 1(2) of the regulations, the Minister formally declared that the statutory instrument shall come into force on December 10, 2024. This notice was gazetted on December 12, 2024, finalizing the implementation timeline for the amended partnership laws.

The Financial Services Commission of the British Virgin Islands issued this notice to extend the deadline for companies to file their initial annual returns under the BVI Business Companies Act, Revised Edition 2020. The regulator determined that companies required additional time to comply with new filing requirements, thereby extending the initial period from its original end date of 30 September 2024 to 30 June 2025. This extension applies to the period within which a company must submit its annual return to its registered agent.

The Financial Services Commission has issued guidelines establishing the criteria and process for determining the completeness of licence applications under the Financial Services Act. Applicants must submit prescribed information through the FSCOne platform, after which the Commission assesses compliance and grants approved licences within ten working days. Failure to provide requested information within fifteen days results in a deemed withdrawal, with processing fees retained but pre-paid annual fees refunded.

The Legislature of the Virgin Islands enacted this Act to amend the Limited Partnership Act, Revised Edition 2020, by introducing mandatory filing requirements for registers of general and limited partners with the Registrar. The legislation establishes new obligations for limited partnerships to collect, maintain, and file beneficial ownership information, while also requiring the submission of annual financial returns to registered agents. Additionally, the Act modifies rules regarding struck-off partnerships, registered offices, and the expansion of the framework for fees and penalties.

The Legislature of the Virgin Islands enacted this Act to amend the BVI Business Companies Act, Revised Edition 2020, empowering the Financial Services Commission to grant extensions of time for filing annual financial returns. The legislation inserts new subsections allowing the Commission to extend the filing period by up to nine months upon application or on its own motion for individual companies, classes, or all companies. Additionally, the Act updates the registered agent's notification obligations to the Registrar, requiring written notice of failure to file within 30 days of the original due date or the end of any granted extension.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Investigation Agency Act, empowering the Agency to disclose information to foreign financial investigation agencies and supervise non-profit organizations at risk of terrorist financing. The legislation enhances enforcement powers by prohibiting the operation of designated non-financial businesses and professions without registration and allowing the Agency to inspect premises, assets, and documents. It further mandates prior approval for changes in directors or significant interests of regulated entities and establishes procedures for public statements and suspension of licenses to combat money laundering and proliferation financing.

The Cabinet of the Virgin Islands issued these Regulations to establish a comprehensive framework for the identification, recording, and maintenance of beneficial ownership information for BVI business companies and limited partnerships. The rules mandate that legal entities and their registered agents file specific data with the Registrar to populate the Beneficial Ownership Register, while defining beneficial owners as natural persons holding 10% or more of shares, voting rights, or control. The Regulations further outline inspection rights for competent authorities and foreign parties under the UK-Virgin Islands Exchange of Notes, alongside provisions for penalties regarding contraventions and data protection compliance.

The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the Financial Services (Limited Partnership Fees) Regulations, 2020. The amendments introduce new definitions, update fee structures for various filings, and establish detailed penalty schedules for late submissions and contraventions of the Limited Partnership Act. These changes are designed to enforce compliance with registration, beneficial ownership, and record-keeping obligations through a tiered system of administrative fines.

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.

The Cabinet of the Virgin Islands issued these regulations to amend the Limited Partnership Regulations, Revised Edition 2020, following advice from the Financial Services Commission. The amendments establish strict residency, experience, and licensing requirements for individuals appointed as voluntary liquidators of limited partnerships. Additionally, the rules define filing procedures for liquidators, mandate the collection and retention of liquidation records for five years, and update the contents and validity periods of certificates of good standing.

The Cabinet of the British Virgin Islands issued this Order to amend the fee schedule in Part I of Schedule 1 to the BVI Business Companies Act, Revised Edition 2020. The amendment introduces new filing fees for beneficial ownership information and updates existing charges for registering members' registers, resignations as registered agents, and the issuance of various certified and uncertified documents. These changes take effect on the date the BVI Business Companies (Amendment) Act, 2024 comes into force.

The Cabinet of the British Virgin Islands issued these Regulations to amend the principal BVI Business Companies Regulations regarding certificate of good standing requirements and administrative penalties. The amendments revise Regulation 15 to impose a five-year waiting period for name reservation after dissolution and update Regulation 25 to specify validity periods and filing conditions for certificates of good standing. Additionally, the Regulations insert Regulation 32 and Schedule 3, which establish a tiered system of administrative fines ranging from $10,000 to $75,000 for various contraventions of the Act.

Issued by the Virgin Islands' Financial Services Commission and Financial Investigation Agency, these guidelines mandate that financial institutions and designated non-financial businesses implement robust Enhanced Customer Due Diligence (ECDD) procedures for higher-risk customers and transactions. Licensees must differentiate ECDD from standard due diligence by verifying beneficial ownership, confirming the source of wealth and funds, applying senior management approval for high-risk relationships, and maintaining dynamic risk assessment frameworks that trigger ECDD upon changing circumstances. The guidance provides concrete examples of high-risk scenarios, including politically exposed persons, complex ownership structures, citizenship-by-investment programmes, and emerging technologies, ensuring licensees can effectively mitigate money laundering, terrorist financing, and proliferation risks.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Services Commission Act, introducing a framework for consumer duties and requiring the Commission to adopt a risk-based supervisory approach. The legislation expands the Commission's powers to cooperate with foreign non-regulatory authorities, mandates licensee cooperation, and establishes strict conflict-of-interest disclosure requirements for employees. Additionally, the Act significantly increases prescribed penalties for various offenses, reduces the mandatory frequency of Board meetings, and allows for decision-making during exceptional circumstances.

The Virgin Islands Financial Services Commission and Financial Investigation Agency have issued these guidelines to establish a comprehensive compliance framework for financial institutions and designated non-financial businesses managing third-party introduced relationships. Licensees must conduct rigorous due diligence on introducers, verify immediate access to customer identification and beneficial ownership data, and implement continuous testing of third-party agreements. By aligning with FATF Recommendation 17 and local anti-money laundering regulations, the guidance mandates a risk-based approach that strengthens compliance, mitigates money and terrorist financing vulnerabilities, and ensures regulatory transparency.

The Minister for Financial Services, Labour and Trade of the Virgin Islands issued this notice to appoint the effective date for the Anti-Money Laundering (Amendment) Regulations, 2024. The regulations are declared to come into force on October 15, 2024, pursuant to the authority granted under regulation 1(2) of the same instrument. This gazette notice formally establishes the commencement date for the amended anti-money laundering legal framework.

The Legislature of the Virgin Islands enacted this Act to amend the Trustee Act, Revised Edition 2020, by mandating that relevant trustees collect, verify, and maintain accurate beneficial ownership information for applicable trusts. The legislation requires trustees to update records within thirty days of any changes, retain documentation for at least five years post-termination, and cooperate with competent authorities and law enforcement agencies upon request. Trustees who fail to comply or provide false information face criminal offences with fines not exceeding $75,000.

The Legislature of the Virgin Islands enacted this Act to amend the BVI Business Companies Act, Revised Edition 2020, by introducing mandatory uniform filing of registers of members with the Registrar and establishing requirements for the collection and maintenance of beneficial ownership information. The legislation significantly reduces the timeframe for appointing first directors to 15 days and introduces new provisions for the verification of beneficial ownership data by registered agents and the Financial Services Commission. Additionally, the Act imposes sufficiently dissuasive and proportionate penalties for non-compliance while updating definitions and access rights for competent authorities and law enforcement agencies.

The Legislature of the Virgin Islands enacted this Act to amend the Proliferation Financing (Prohibition) Act, 2021, by establishing strict liability offences for dealing with or making assets available to designated persons. The legislation mandates reporting requirements for transactions involving designated countries, persons, or entities and removes previous monetary thresholds for such disclosures. Additionally, the Act empowers the Agency to issue compliance guidelines regarding asset freezing, reporting obligations, and monitoring of financial institutions.

The Legislature of the Virgin Islands enacted this Act to amend the Insurance Act, Revised Edition 2020 by imposing stricter oversight on foreign insurers. The legislation requires foreign insurers to obtain prior written approval from the Commission before effecting any change in significant or controlling ownership interests. Additionally, it mandates that the Commission verify fit and proper criteria for new owners and obligates insurers to notify the Commission of other interest changes within 14 days.

The Legislature of the Virgin Islands enacted this Act to amend the Banks and Trust Companies Act, Revised Edition 2020. The legislation expands the statutory definition of trust business to include equivalent functions for other legal arrangements. It further mandates that banking licence applicants provide the Commission with a copy of their deposit insurance policy within six months of licence issuance.

The Legislature of the Virgin Islands enacted the Insolvency (Amendment) Act, 2024, to expand the Commission's powers to apply for the appointment of a liquidator under the Insolvency Act, Revised Edition 2020. The legislation amends sections 162 and 163 to include new grounds for liquidation applications, specifically targeting entities involved in money laundering, terrorist financing, proliferation financing, or breaches of sanctions and embargoes. These amendments also incorporate definitions for financial crime terms from the Financial Investigation Agency Act and allow the Commission to act against activities deemed contrary to the public interest or the financial services industry's best interests.

The Financial Services Commission of the Virgin Islands issued the Anti-Money Laundering and Terrorist Financing (Amendment) Code of Practice, 2024 to update regulatory frameworks under the Proceeds of Criminal Conduct Act. The amendments introduce strict timelines for reporting the cessation of a Reporting Officer and allow small entities or professionals to appoint senior staff as Reporting Officers if appropriately qualified. Additionally, the revision clarifies internal control requirements by expanding the scope of policies, employee training, and independent audit functions mandated under the principal Code of Practice.

The Cabinet of the Virgin Islands has issued the Anti-Money Laundering (Amendment) Regulations, 2024 to overhaul the appointment and oversight of Money Laundering Reporting Officers under the Proceeds of Criminal Conduct Act. The amended regulation mandates that regulated entities and designated non-financial businesses obtain prior regulatory approval from either the Financial Investigation Agency or the Financial Services Commission before appointing a senior officer who meets strict educational, experiential, and integrity standards. It further codifies the officer’s duties regarding compliance supervision and regulatory liaison, while establishing clear timelines for notifying regulators of vacancies and procedures for suspending or revoking approval if standards are no longer met.

The Cabinet of the Virgin Islands, acting on the Financial Services Commission’s advice, issued this Order to amend Schedule 1 of the Securities and Investment Business Act. The amendment inserts a new paragraph defining foreign exchange instruments as contracts to exchange one currency for another. Deriving authority from section 108(1) of the Act, the Order takes effect on a date designated by the Minister via Gazette notice.

The British Virgin Islands Financial Services Commission and Financial Investigation Agency issued this Memorandum of Understanding to establish a formal framework for cooperation and information exchange regarding due diligence, money laundering, terrorist financing, and proliferation financing. The agreement mandates structured procedures for requesting, providing, and continuously sharing confidential information while preserving the rights of affected persons and maintaining strict confidentiality safeguards. It outlines specific protocols for emergency situations, request assessment timelines, onward information sharing, and cost allocation to support effective AML/CFT supervision and enforcement across both authorities.

The Financial Supervision Commission issued this Ordinance to establish detailed regulatory requirements for the operation of collective investment schemes, management companies, national investment funds, and alternative investment fund managers. It mandates specific contractual obligations between investment companies and their managers or depositaries, while strictly defining liquidity standards and asset eligibility criteria to ensure schemes can meet redemption requests. The regulation further outlines rigorous procedures for asset valuation, risk management, and the use of derivative instruments to protect investor interests and maintain market stability.

The Financial Supervision Commission of Bulgaria issued Ordinance No. 8 to establish additional regulatory requirements for central securities depositories, the central securities register, and other entities involved in securities settlement. The regulation mandates specific operational standards, including the maintenance of electronic databases, precise data recording for issuers and holders, and strict procedures for the registration and deregistration of financial instrument issues. It further defines risk management protocols, default procedures, and the legal responsibilities of depositories regarding the accuracy of their registers and the finality of settlements.

The Financial Supervision Commission issued Ordinance No 50 to establish detailed capital adequacy, liquidity, and compliance supervision requirements for investment firms under the Markets in Financial Instruments Act. The regulation defines specific capital buffers, exemption procedures, and reporting obligations while differentiating regulatory burdens between small non-interconnected firms and significant investment firms. It further mandates strict permit procedures for capital adjustments, remuneration policies, and risk management frameworks to ensure alignment with relevant European Union regulations.

The Financial Services Commission amended the principal licensing framework by updating definitions for "reporting issuer" and "withdrawn" applications while restructuring the timing, proration, and refund mechanisms for first annual fees. The revised rules require applicants to submit standard licence, Global Business Licence, and Authorised Company fees at the application stage, with full or partial interest-free refunds available if authorisation is delayed, denied, or deemed withdrawn. These amendments to the Financial Services (Consolidated Licensing and Fees) Rules 2008 take effect on 1 October 2024.

The Financial Services Commission has issued the Insurance (General Insurance Business Solvency) Rules 2024 to establish comprehensive solvency margin and capital requirement standards for general insurance businesses. The Rules mandate a minimum capital requirement of 100% and a target capital ratio of at least 150%, while specifying detailed valuation methods for assets and liabilities, investment concentration limits, catastrophe provisions, and reinsurance ceded charges. Insurers must continuously maintain these standards, submit contingency plans to the Commission if their capital ratio falls below the target, and apply newly defined capital factors from the accompanying schedules effective 9 September 2024.

The Financial Services Commission revoked the Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2024 to streamline licensing and fee regulations under the Financial Services Act. This revocation eliminates the prior amendment framework, ensuring a consolidated regulatory structure for financial service providers. The rules were promulgated on 5 June 2025 and officially come into operation on 16 June 2025.

The Financial Services Commission of Mauritius issued these rules to amend licensing and fee requirements by shortening late payment grace periods to fifteen days, extending reinstatement application windows to three months, and updating USD fee schedules for Global Business Companies and Authorised Companies. The amendments allow licence reinstatement on just or reasonable cause, detailing specific reinstatement fees and monthly charges for lapsed licences. These provisions take effect on 1 July 2025.

The Financial Services Commission of Mauritius has issued the Insurance (Returns) Rules 2024 to mandate insurers to submit detailed regulatory returns for general, long term, and reinsurance business. These rules require compliance through specified forms outlined in the First, Second, Third, and Fourth Schedules. Effective 9 September 2024, the new rules supersede the Insurance (Returns) Rules 2007 and establish updated reporting obligations under Section 49(2) of the Insurance Act.

The Financial Services Commission of Mauritius has promulgated rules establishing comprehensive licensing, capital, and operational frameworks for spot commodity markets, clearing houses, and intermediaries. The regulations mandate that licensed entities maintain a minimum capital of 6.5 million rupees, ensure responsible sourcing compliance, and implement robust risk management, IT resilience, and dispute resolution mechanisms. Furthermore, the rules impose strict reporting obligations, including quarterly trading data submissions and annual activity reports, to guarantee market transparency and investor protection.

The Financial Services Commission has issued the Insurance (Long-Term Insurance Business Solvency) Rules 2024 to establish comprehensive solvency requirements for long-term insurers. The rules mandate precise liability and asset valuation methods using best-estimate assumptions, risk adjustments, and fair value measurements, while imposing strict investment concentration limits of up to 10 percent on listed shares and 5 percent on other assets. Insurers must maintain a solvency margin of at least 100 percent of their minimum capital requirement and submit detailed actuarial reports certifying compliance with these valuation and capital standards.

The Financial Services Commission issued Government Notice No. 110 of 2024 to amend the Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2024. This amendment modifies rule 4 by replacing the original effective date of "01 July 2024" with "01 July 2025". The amended Rules are deemed to have come into operation on 28 June 2024, following their formal issuance on 25 June 2024.

The Financial Services Commission issued Amendment No. 3 to the Consolidated Licensing and Fees Rules 2024, updating the fee schedule for Captive Insurance Business licences. The revised First Schedule replaces the existing table with standardized processing and fixed annual fees ranging from USD 1,000 to USD 2,000 for business and agent categories, with non-Global Business Licence holders required to pay equivalent amounts in Rupees based on the Bank of Mauritius indicative exchange rate. These updated licensing requirements commence operation on 26 February 2024.

The Financial Services Commission of Mauritius issued these Rules to exempt specific financial licensing applications from Section 17B of the Financial Services Act. The Schedule explicitly covers Investment Banking, Securities Exchange, Trading Systems, Clearing and Settlement Facility, and Management Company licences, alongside applications requiring Registrar action or information under Sections 83 and 87. Defining the Registrar to encompass multiple corporate registries, these Rules take effect on 1 October 2024.

The Financial Services Commission of Mauritius issued these rules to regulate licensed captive insurers by mandating strict risk management frameworks, minimum capital and solvency ratios, and clearly defined business categories. The regulations require captive insurers to maintain adequate technical reserves, adhere to diversified investment and loan principles, and submit timely contingency plans when exceeding premium or technical provision limits. Furthermore, the rules enforce rigorous audit and actuarial appointment procedures alongside detailed financial reporting to ensure ongoing solvency and orderly business conduct.

The Financial Services Commission issued Amendment No. 5 to the Consolidated Licensing and Fees Rules 2008, revising fee schedules for insurance service providers. This amendment replaces item INS-2.1 in the First Schedule to establish updated fixed annual fees and additional Lloyd’s Coverholder charges for Insurance Managers. The revised licensing fee structure takes effect on 30 August 2024, directly adjusting the operational costs for regulated insurance entities.

The Financial Services Commission issued Amendment No. 4 to the Consolidated Licensing and Fees Rules 2024, updating fee schedules for licensed financial entities. The amendment establishes a USD 400 processing fee and a USD 800 fixed annual fee for multiclass collective investment schemes and closed-end funds. A clarifying footnote restricts these rates to variable capital company funds operating with a multi-class structure, and the rules take effect on 2 March 2024.

The Financial Services Commission issued these rules to amend the licensing and fee schedule for spot commodity-related financial service providers. The amendment adds six new licence categories, including spot commodity brokers, clearing houses, and trading advisers, to the First Schedule of the 2008 principal rules with fixed annual fees ranging from USD 500 to USD 11,000. Fees for entities without a Global Business Licence may be converted to Rupees using the Bank of Mauritius indicative exchange rate, and the regulations commenced operation on 9 February 2024.

The Financial Supervision Commission establishes the minimum credit rating levels required for banks holding funds from supplementary pension insurance and benefit payment funds. The Ordinance defines eligible countries, specific financial markets, and recognized indices, while also listing approved international financial organizations for investment purposes. It mandates that pension insurance companies justify the consistency of non-standard credit ratings with regulatory standards and submit these justifications within three working days of initial use or changes in compliance.

Issued by the Financial Services Commission of Mauritius, these Guidelines mandate that regulated licensees implement a risk-based cloud strategy and establish robust risk management frameworks when adopting cloud computing services. Licensees must conduct thorough due diligence and materiality assessments on cloud service providers, secure written contractual arrangements with clear liability and exit provisions, and notify the regulator at least 15 business days prior to deploying material cloud services. The Board and senior management retain full oversight, requiring annual audits, continuous security monitoring, documented contingency plans, and timely incident reporting to ensure ongoing regulatory compliance.

The Financial Services Commission of Mauritius has issued these Guidelines to establish a regulatory sandbox regime enabling fintech and innovation-driven financial services firms to test new products, services, or processes in a simulated or live environment. Applicants must demonstrate genuine innovation, testing readiness, and robust client protection to receive a fee-exempt Regulatory Sandbox Authorisation. Authorized entities operate under a maximum twelve-month testing period subject to mandatory interim and final reporting, clear client disclosure obligations, and structured exit or renewal pathways for broader market deployment.

The Financial Services Commission of Mauritius has issued these Guidelines to establish minimum standards for using digital signatures as a legally valid substitute for wet signatures in licensing and regulatory submissions. Applicants and licensees must ensure their digital signatures meet specific criteria, including PDF format, AATL-issued certificates, PAdES LTV compliance, eIDAS Advanced Electronic Security standards, and embedded timestamps. The Commission mandates that digital signature software support automatic verifiability in Adobe Reader or Acrobat, generate Certificates of Completion for audit trails, and maintain ISO 27001 or SOC 2 Type 2 certifications to ensure long-term validity and regulatory acceptance.

The Financial Supervision Commission issued this ordinance to establish remuneration principles for insurers, reinsurers, management undertakings, and public entities. It mandates that these organizations adopt policies ensuring fixed remuneration constitutes a significant portion of total pay to prevent excessive risk-taking. The regulation further requires deferral of variable compensation, clawback provisions for misleading performance data, and transparent disclosure of pay structures to shareholders and the public.

The Financial Supervision Commission of Bulgaria establishes the regulatory framework for recognizing the legal capacity of responsible actuaries in insurance and social insurance sectors. The ordinance details the admission requirements, examination structure, and application procedures for both full and partial actuarial certification, including specific academic and professional experience mandates. It further defines the mandatory forms and content for actuarial reports and certifications issued under the Insurance Code and Social Insurance Code.

The Financial Supervision Commission of Bulgaria issued Ordinance No. 71 to establish detailed governance requirements for insurers and reinsurers operating in the Republic of Bulgaria. The regulation mandates sound management practices, including the segregation of responsibilities, documentation of significant decisions, and the implementation of robust risk management and contingency plans. It further requires periodic reviews of governance systems, adherence to specific remuneration rules, and the application of fit and proper criteria for key personnel.

The Financial Supervision Commission of Bulgaria issued Ordinance No. 51 to establish qualitative and quantitative requirements for the own funds and solvency capital calculations of insurers and reinsurers. The regulation defines the composition of basic and additional own funds, classifies them into three tiers based on loss-absorption capacity, and sets quantitative restrictions on eligible capital levels. It further details the supervisory approval procedures for permits, internal models, and specific transactions affecting capital adequacy.

The Financial Supervision Commission issued Ordinance No. 66 to establish additional requirements for classifying investment insurance products as non-complex under Article 342 of the Insurance Code. The regulation mandates that insurers and intermediaries assess whether contracts contain structures that obscure risks, specifically examining features related to contract changes, surrender values, costs, and beneficiary definitions. Compliance with these criteria ensures adherence to EIOPA guidelines and subjects violations to administrative penalties under the Insurance Code.

The Financial Supervision Commission of Bulgaria promulgated this ordinance to establish mandatory electronic procedures for registering insurance brokers, agents, and ancillary intermediaries. It requires insurers to verify applicant compliance before submitting standardized requests via the FSC Online Portal or email, with system validation strictly enforced through qualified electronic signatures. The regulation further outlines administrative penalties for non-compliance, defines transitional submission periods, and amends existing register-keeping legislation to align with the new digital framework.

The Financial Services Commission of Jamaica has issued updated Anti-Money Laundering, Counter Financing of Terrorism, and Counter Proliferation Financing guidelines to align with 2019 legislative amendments and FATF standards. Regulated businesses must implement enhanced customer due diligence, simplified due diligence for low-risk cases, and immediate asset freezing for proscribed persons under the United Nations Security Council Resolutions Implementation Act. The document establishes a risk-based supervisory framework and mandates strict recordkeeping, transaction monitoring, and reporting obligations to prevent financial crimes.

The Commission for Financial Supervision issued Order No. 75 to implement specific regulatory requirements for benchmark administrators under EU Regulation 2016/1011. The Order establishes detailed rules for the oversight function, data input management, and methodology transparency for small-significance benchmarks, while also setting governance and control standards for supervised data providers. Additionally, it defines requirements for critical and significant benchmark administrators regarding alternative methodologies, cloud services, and data storage.

The Legislature of the Virgin Islands enacted this amendment to strengthen confidentiality and feedback protocols for international legal assistance. The revised sections require the Attorney General and Governor to securely maintain outgoing letters of request and incoming assistance requests, while mandating timely feedback on the utility of exchanged materials. Furthermore, Section 11 creates a specific offence for manufacturing, possessing, or supplying scheduled substances known or suspected to be used in unlawful controlled drug production, with the Act commencing upon a date appointed by gubernatorial proclamation.

The Legislature of the Virgin Islands enacted this Act to amend the Drug Trafficking Offences Act, Revised Edition 2020, by increasing statutory penalties for various drug-related offenses. The legislation raises minimum and maximum imprisonment terms and fines for convictions under sections 33, 34, 35, and 36, while also introducing new provisions for account monitoring orders to aid investigations. Additionally, the Act inserts a new section 39A empowering courts to compel financial institutions to provide account information and updates section 47 to increase specific monetary penalties.

The Legislature of the Virgin Islands enacted the Financing and Money Services (Amendment) Act, 2023 to amend the principal Financing and Money Services Act, Revised Edition 2020. The legislation introduces revised statutory definitions for "controlling interest" and "significant interest" to clarify ownership thresholds and influence over licensees. Additionally, it amends Sections 9 and 14 of the principal Act to include "controlling interest" alongside "significant interest" in relevant regulatory provisions.

The Legislature of the Virgin Islands enacted the Insurance (Amendment) Act, 2023 to amend the Insurance Act, Revised Edition 2020. The legislation replaces the statutory definitions of "controlling interest" and "significant interest" with expanded criteria regarding voting rights, influence, and director appointments. Additionally, it amends Sections 21 and 45 of the principal Act to include "controlling interest" alongside "significant interest" in relevant regulatory provisions.

The Legislature of the Virgin Islands enacted the Proceeds of Criminal Conduct (Amendment) Act, 2023 to amend the principal Act regarding penalties, definitions, and investigative powers. The legislation increases maximum fines and imprisonment terms for various offenses, reduces certain statutory time limits, and introduces an account monitoring order mechanism to assist money laundering investigations. Additionally, the Act clarifies information sharing obligations within financial groups and updates references to specific sections of the principal Act.

The Legislature of the Virgin Islands enacted this Act to amend the BVI Business Companies Act, Revised Edition 2020, with retroactive effect from January 1, 2023. The legislation mandates that companies and foreign companies collect, maintain, and file beneficial owner information with their registered agents, while also imposing strict record-keeping requirements for registers of members and director lists. Non-compliance with these new obligations regarding beneficial ownership and document retention exposes entities to significant fines and summary conviction offenses.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Services Commission Act, Revised Edition 2020. The legislation inserts a new section 33G mandating that the Commission provide timely feedback on the use and usefulness of assistance received from or provided to foreign regulatory authorities and other persons. This requirement applies to the exchange of information, documents, or other materials in any form.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Investigation Agency Act, Revised Edition 2020. The legislation updates the definition of a foreign financial investigation agency and empowers the domestic Agency to act upon written request or on its own volition. It further mandates reciprocal feedback mechanisms regarding the use and usefulness of information exchanged with foreign counterparts.

The Legislature of the Virgin Islands enacted the Limited Partnership (Amendment) Act, 2023 to amend the Limited Partnership Act, Revised Edition 2020. The legislation modifies Section 108 by requiring that qualifying documents or information be retained for a period of five years from the date of dissolution of the limited partnership. The Act was passed on March 10, 2023, and comes into force on a date appointed by the Minister via Gazette notice.

The Legislature of the Virgin Islands enacted this Act to amend the Partnership Act, Revised Edition 2020, by introducing a comprehensive regulatory framework for limited partnerships. The legislation defines key terms and establishes Part VI, which governs the formation, registration, and operational restrictions of both local and international limited partnerships. It further details the liability protections for limited partners, naming conventions, and the duties of the Registrar of Limited Partnerships.

The Legislature of the Virgin Islands enacted the Banks and Trust Companies (Amendment) Act, 2023 to amend the principal Act regarding licensing, definitions, and governance. The legislation updates fit and proper criteria for license applicants, expands definitions of significant interest and trust business, and restricts the appointment of directors or senior officers without prior Commission approval. These changes aim to strengthen regulatory oversight and ensure compliance with capital and management standards for banks and trust companies.

The Legislature of the Virgin Islands enacted this Act to amend the Company Management Act, Revised Edition 2020, by expanding the statutory definition of company management to include partnerships and nominee services. The legislation updates licensing criteria to require fit and proper assessments for applicants and their controlling interests, while introducing a new definition for controlling interest that captures significant influence over licensees. Additionally, the Act mandates prior written Commission approval for the appointment of directors or senior officers by licensees and extends regulatory oversight to limited partnerships.

The Legislature of the Virgin Islands enacted the Counter-Terrorism (Amendment) Act, 2023 to amend the Counter-Terrorism Act, No. 33 of 2021. The legislation expands the definition of economic resources and criminalizes the financing of travel for terrorist purposes, including attempts, accomplice liability, and organizational direction. It also clarifies exemptions for information sharing under anti-money laundering group-wide programs and mandates immediate reporting of relevant matters.

The Legislature of the Virgin Islands enacted this Act to amend the Securities and Investment Business Act, Revised Edition 2020. It introduces a new definition of “controlling interest” and revises the existing “significant interest” criteria to clarify voting rights, distributions, and director appointments. The legislation updates Sections 6, 11, and 64 by appending “or controlling interest” to ensure consistent regulatory oversight across licensing requirements and corporate governance provisions.

The Financial Services Commission of the Virgin Islands issued this statutory instrument to amend the principal Anti-Money Laundering and Terrorist Financing Code of Practice. The amendments introduce new obligations for trustees and nominee service providers regarding beneficial ownership disclosure and enhance customer due diligence requirements for virtual asset service providers and money services businesses. Additionally, the document updates definitions, aligns references with the Proceeds of Criminal Conduct Act, and revises penalty schedules for specific regulatory breaches.

The Financial Services Commission of the Virgin Islands issued the Regulatory (Amendment) Code, 2023 to update the principal Regulatory Code. The amendments introduce new definitions for 'controller' and 'controlling interest' while refining the definition of 'significant interest' to enhance fit and proper criteria assessments. Additionally, the Code incorporates Virtual Assets Service Providers, updates licensing classifications, and clarifies the applicability of regulations to various financial entities and practitioners.

The Financial Services Commission issued this Order to mandate that BVI business companies file annual financial returns with their registered agents. The regulation requires companies to submit specific financial data, including balance sheets and income statements, in the prescribed format unless they qualify for statutory exemptions. These obligations commenced on January 1, 2023, with filing deadlines determined by each company's specific fiscal year end.

The Cabinet of the Virgin Islands issued these regulations to amend the Anti-Money Laundering Regulations of the Revised Edition 2020 under the Proceeds of Criminal Conduct Act. The amendments revise definitions of control and relevant business, establish specific monetary thresholds for wire transfers, and mandate notification to the Agency. Additionally, the regulations update compliance requirements by substituting the text regarding relevant persons' internal control systems and procedures.

The Financial Services Commission of the Virgin Islands issued this Code of Practice to amend Chapter III of the Insolvency Code of Practice, Revised Edition 2020. The amendments redefine residency requirements for insolvency practitioners by specifying criteria for habitual residence and allowing temporary absences of up to 180 days. Additionally, the Code updates fitness and propriety standards by referencing Schedule 1A of the Regulatory Code and corrects a reference in paragraph 4.2 to include 'of the Regulations'.

The Cabinet of the Virgin Islands issued these rules to amend the Insolvency Rules, Revised Edition 2020, pursuant to section 498 of the Insolvency Act. The amendments introduce Division 8A to establish procedures for the dissolution of insolvent companies upon completion of liquidation and require notifications to the VIDIC for regulated banks. Additionally, the rules substitute references to the Commission with the Government in Rules 327 and 329 and update the Insolvency Surplus Account provisions in Rule 328.

The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the fee structure under the Financial Services Commission Act. The new Schedule revokes and substitutes the previous fee schedule, establishing specific application and approval charges for various financial services entities including banks, trust companies, insurers, and company managers. These fees, denominated in US dollars, cover licensing, renewals, exemptions, and administrative costs, with most provisions effective April 1, 2023, and specific items related to Virtual Assets Service Providers commencing upon the operation of the relevant Act.

The Financial Services Commission of Mauritius amends the 2022 administrative penalty framework by replacing key calculation provisions in the Schedule to the principal rules. The updated regulations mandate that penalties for breaches lasting over twelve months be calculated using the licensee's relevant gross income, while licensees operating for less than a year receive pro-rata assessments. These amendments formally take effect on 18 November 2023, ensuring precise financial penalties aligned with operational duration and revenue.

The Financial Services Commission issued the 2023 Amendment No. 2 Rules to modify licensing procedures and fee structures under the Financial Services (Consolidated Licensing and Fees) Rules 2008. The amendment introduces a new paragraph permitting two board-resolved officers to jointly grant licenses for insurance, private pension, and captive insurance schemes. It also updates the First Schedule to establish specific processing and annual fees for external pension schemes operating as protected cell companies, with the rules taking effect on 2 October 2023.

The Financial Services Commission of Mauritius issued these amendment rules to update the licensing fee schedule under the Financial Services Act. The amendments insert a new table for Global Shared Services, establishing a USD 1,000 processing fee and a USD 2,500 fixed annual fee. These rules take effect on 28 January 2023, modifying the First Schedule to the principal 2008 licensing and fees regulations.

The Financial Services Commission of Jamaica issued these guidelines under the Trust and Corporate Services Providers Act, 2017, to mandate that licensed service providers establish adequate internal controls. The document requires licensees to implement risk-based policies, procedures, and systems to identify, assess, and manage business risks while maintaining accountability and regular review by senior management. Non-compliance with these standards constitutes an offence, and providers remain fully responsible for outsourced functions, necessitating rigorous monitoring and assurance of third-party controls.

The Financial Services Commission issued these amendment rules to update licensing requirements for employer-sponsored private pension schemes by mandating specific provisions in their constitutive documents regarding accrued benefits. The amendments define transfer values as the higher of actuarial cash equivalents or accumulated contributions net of expenses, while establishing strict one-month timelines for transfer requests and responses. These updated provisions automatically apply to all schemes licensed before 31 March 2023 and take full effect on 10 April 2023.

The Financial Services Commission of Mauritius issued these rules to govern the transfer of total accrued benefits for non-citizen members from domestic private pension schemes to overseas pension arrangements. The regulations mandate prior Commission approval and require sponsoring schemes to submit specific documentation, including governance resolutions, due diligence confirmations, and written requests from the non-citizen. The framework establishes a valuation method based on the higher of the cash equivalent transfer value or accumulated contributions with returns, while enforcing strict one-month timelines for notifying members, receiving responses, and completing the transfers.

The Financial Services Commission issued these amendment rules to modify the schedule of the 2013 Administrative Penalties Rules by introducing fixed daily penalty amounts for specific filing obligations. The amended schedule mandates a penalty of Rs 300 (US$10) per business day for non-compliance with audited financial statement filing requirements under the 2021 Virtual Asset and Initial Token Offering Services Act and the 2019 Custodian Services Rules. These provisions take effect on 1 June 2023, establishing clear financial consequences for regulated entities.

The Financial Services Commission of Jamaica issued Regulation CD to establish continuous disclosure obligations for reporting issuers. The regulation mandates the timely filing and publication of annual and interim financial statements, Management’s Discussion & Analysis, Annual Information Forms, and Material Change Reports. It further requires issuers to adhere to plain language principles, obtain board approval for filings, and utilize the Jamaican Electronic Filing and Retrieval System for submissions.

The Financial Services Commission of Mauritius establishes minimum technical competencies, qualifications, and experience requirements for licensees across the insurance, securities, and management sectors. The standards mandate that designated officers demonstrate competence through structured training or recognized qualifications while fulfilling annual Continuous Professional Development hours. Licensees must maintain detailed competency records for at least seven years and face regulatory sanctions if they fail to meet these prescribed requirements.

The Financial Services Commission of Mauritius has issued updated guidance establishing a comprehensive regulatory framework for Security Token Offerings and the licensing of Security Token Trading Systems. The notes classify security tokens as digital representations of traditional securities, mandate a minimum capital of 6.5 million Mauritian rupees for trading platforms, and require robust cybersecurity protocols, designated custody arrangements, annual IT audits, and strict AML/CFT compliance. Issuers may execute public or preferential offerings under existing securities legislation, while licensed trading systems must maintain operational control in Mauritius and adhere to international market infrastructure standards to ensure investor protection and market integrity.

The Financial Services Commission has amended the Securities (Preferential Offer) Rules 2017 to redefine "issuer" and exempt debt securities issued under private agreements or governed by public offer rules. The amendments require issuers to register debt security offers with the Commission at least fourteen days prior to issuance and submit retrospective data for securities outstanding between August 2016 and October 2023. Compliance is enforced through newly added schedules detailing pricing, investor allocations, and director acknowledgments.

The Legislature of the Virgin Islands enacted this Act to establish a comprehensive registration and supervision framework for Virtual Asset Service Providers (VASPs) operating within the jurisdiction. The Financial Services Commission mandates that entities providing virtual asset services, custody functions, or exchange operations obtain registration by meeting fit-and-proper criteria, maintaining financial soundness, implementing robust AML/CFT and cybersecurity safeguards, and submitting regular audits. The legislation grants the Commission and Financial Investigation Agency broad enforcement, exemption, and regulatory sandbox powers to oversee compliance, manage cancellations or revocations, and govern the evolving virtual asset market.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Services Commission Act, 2001, by expanding the regulator's crisis management and resolution powers to safeguard financial stability. The legislation introduces new definitions for financial distress and resolution proceedings, mandates the establishment of a public register for directors and senior officers, and strengthens cooperation mechanisms with domestic and foreign competent authorities. Additionally, the Act imposes specific obligations on licensees regarding early warning notifications, recovery plans, and the maintenance of resolution plans for systemically important entities.

The Legislature of the Virgin Islands enacted this Act to amend the Insolvency Act, Revised Edition 2020, by introducing new definitions and expanding the regulatory oversight of insolvent entities. The legislation grants the Virgin Islands Deposit Insurance Corporation and the International Tax Authority specific powers to apply for the appointment of liquidators and receive final reports for regulated persons, particularly banks. Additionally, the Act transfers administrative responsibilities and financial account management from the Commission to the Government.

Issued by the Legislature of the Virgin Islands, this amendment to the Banks and Trust Companies Act, Revised Edition 2020, mandates deposit insurance compliance and establishes a formal resolution framework for failing financial institutions. The law introduces precise definitions for bridge banks, systemically important banks, and controlling interests while requiring licensees to submit insurance policies within six months. It empowers the Financial Services Commission to place distressed banks into receivership or bridge bank status, enforces stricter audit reporting and compliance rules for systemically important entities, and updates statutory references to align with current insolvency and appeal legislation.

The Financial Services Commission of Mauritius classifies Non-Fungible Tokens into three functional categories to determine their regulatory obligations under the Securities Act and VAITOS Act. Digital collectibles not used for payment or investment are exempt from regulation, while NFTs functioning as securities require licensed marketing and trading platforms. All other virtual asset NFTs must secure appropriate registration or licensing, with non-compliance potentially triggering enforcement actions against issuers and platform operators.

The Financial Supervision Commission of Bulgaria issued these regulations to govern the Investor Compensation Fund, a legal entity responsible for compensating clients of investment intermediaries and asset managers in the event of insolvency or license revocation. The document establishes the Fund's five-member Board of Directors, detailing their appointment by the Commission and industry associations, their remuneration, and their specific powers regarding fund management, investment, and compensation payouts. It further outlines the operational procedures for Board meetings, voting mechanisms, conflict of interest disclosures, and the Fund's role in the restructuring of investment intermediaries.

The Cabinet of the British Virgin Islands issued this Order to amend the fee schedule in Part I of Schedule 1 to the BVI Business Companies Act, Revised Edition 2020. The amendments update existing filing fees for various corporate actions and introduce new fees for charitable company applications, voluntary liquidation processes, and company name restoration. This statutory instrument was gazetted on October 6, 2022, and is scheduled to come into force on January 1, 2023.

The Financial Services Commission of the Virgin Islands issued this statutory instrument to amend the 2020 Anti-Money Laundering and Terrorist Financing Code of Practice. The amendments introduce new definitions for beneficial ownership and politically exposed persons, expand the regulatory scope to include non-profit organizations and proliferation financing, and update reporting obligations. These changes align local regulations with international standards and enhance risk-based compliance requirements for regulated entities.

The Financial Services Commission of Mauritius updated its guidance notes to align Security Token Offerings with the Securities Act and the 2021 Virtual Asset and Initial Token Offerings Services Act. The framework mandates prior regulatory approval for public offerings, exempts designated sophisticated and expert investors, and requires licensed service providers to conduct rigorous due diligence while fulfilling strict disclosure obligations. Issuers and investors must ensure full compliance, as unlicensed financial services constitute a criminal offence and all STO investments remain at the investor's own risk without statutory compensation.

The Financial Services Commission of Mauritius has issued updated guidance notes establishing a comprehensive licensing and operational framework for Security Token Offerings and Security Token Trading Systems. The document defines security tokens as digital representations of traditional securities, outlines permissible issuance methods, and mandates that trading systems secure a Trading Securities System licence while maintaining minimum capital, professional indemnity insurance, and robust cybersecurity governance. It further requires licensed entities to implement strict anti-money laundering protocols, data protection compliance, and independent IT audits, while clarifying that investors bear the risks without statutory compensation.

The Financial Services Commission of Mauritius has issued updated guidance notes formally recognizing virtual assets as a distinct investment asset class for sophisticated investors, expert investors, and specialized collective investment schemes. Aligning with the 2021 Virtual Asset and Initial Token Offerings Services Act, the document clarifies regulatory definitions for virtual asset service providers while confirming that these investments remain high-risk and outside statutory compensation protections. The regulator mandates that participants conduct thorough risk assessments before committing capital, ensuring only financially literate and knowledgeable market actors engage with volatile digital representations of value.

The Cabinet of the Virgin Islands issued these regulations to amend the principal Anti-money Laundering Regulations, introducing comprehensive definitions for virtual assets and beneficial ownership. The amendments expand the scope of relevant businesses to include virtual asset service providers and gaming operators while establishing specific transaction thresholds for simplified due diligence measures. Additionally, the regulations update reporting officer requirements, align terminology with the Proceeds of Criminal Conduct Act, and increase the maximum penalty for offenses to $150,000.

The Cabinet of the Virgin Islands issued these regulations to amend the BVI Business Companies Regulations, 2020, primarily by reducing the statutory retention period for company records from seven to five years. The amendments also introduce new eligibility criteria for voluntary liquidators, requiring specific professional qualifications and experience, while establishing new obligations for liquidators to collect and transmit records to registered agents. Additionally, the regulations update compliance requirements for certificates of good standing and revoke outdated provisions regarding document legibility and record-keeping.

The Legislature of the Virgin Islands enacted this Act to amend the BVI Business Companies Act, Revised Edition 2020, introducing significant regulatory changes for business entities. The legislation prohibits the issuance of bearer shares, establishes new registration and reporting requirements for companies pursuing charitable or non-commercial purposes, and mandates the filing of annual financial returns with registered agents. Additionally, the Act updates definitions for voluntary liquidators, modifies registered agent obligations regarding money laundering compliance, and amends provisions concerning the maintenance of registers of directors and members.

The Commission for Financial Supervision issued Regulation No. 74 to establish strict requirements for the suitability, competence, and integrity of the management and supervisory bodies of market operators. The regulation mandates comprehensive policies regarding time commitment, conflict of interest management, diversity, and ongoing training for board members. It also introduces specific rules for outsourcing cloud computing services and sets transitional deadlines for compliance with these new governance standards.

The Commission for Financial Supervision issued Regulation No. 73 to establish additional requirements for market data operators and investment intermediaries regarding the disclosure, pricing, and non-discriminatory provision of market data. The regulation mandates the publication of a transparent market data policy, a cost-based pricing methodology, and the free provision of delayed market data to ensure fair access for all clients. It further introduces rules for cloud service outsourcing and aligns national provisions with specific European Securities and Markets Authority guidelines.

The Financial Supervision Commission issued Ordinance No. 72 to establish the specific information and documentation required to prove that candidates meet the integrity, reputation, and professional qualification standards for appointment as temporary or extraordinary managers of investment intermediaries. The regulation further defines the selection procedure, eligibility criteria, and contractual terms for independent valuers tasked with assessing restructuring plans under the Law on Recovery and Resolution of Credit Institutions and Investment Intermediaries. It mandates that all applications be submitted in Bulgarian with certified translations and establishes a non-public registry of interested parties to facilitate the Commission's oversight of financial sector governance.

The Financial Services Commission of Mauritius has issued these guidance notes to designate Virtual Asset Service Providers and Initial Token Offering issuers as financial institutions under the FIAMLA. Regulated entities must implement a risk-based approach that incorporates robust customer due diligence, enhanced monitoring of anonymity-enhanced transactions, and targeted financial sanctions compliance. The framework mandates continuous assessment of money laundering and terrorism financing red flags, requiring licensed entities to align internal policies with the VAITOS Act and submit suspicious transaction reports.

The Financial Services Commission of Mauritius has issued revised guidelines establishing comprehensive regulatory requirements for the issuance and listing of corporate and green bonds in Mauritius. The framework mandates a minimum MUR 100 million issue size for corporate bonds while exempting green bonds, and defines eligibility criteria, disclosure obligations, proceeds utilization, and ongoing reporting duties for issuers, corporate finance advisers, and issuing and paying agents. By aligning domestic practices with international standards, the guidelines streamline both public and preferential bond offerings, clarify greenwashing prevention, and ensure robust investor protection through structured underwriting, secondary market trading, and strict compliance monitoring.

The Financial Services Commission of Jamaica issued these supplemental guidelines to implement amendments to the United Nations Security Council Resolutions Implementation Act and related regulations. The document mandates that regulated entities immediately freeze assets of proscribed persons, conduct continuous customer screening, and submit regular reports to the Designated Authority. It establishes specific legal obligations, reporting timeframes, and penalties for non-compliance to ensure adherence to UN Security Council Resolutions regarding proliferation financing.

The Financial Supervision Commission issued Order No. 50 to establish detailed requirements for capital adequacy, liquidity, and governance of investment intermediaries in Bulgaria. The regulation defines specific capital buffers, liquidity standards, and remuneration policies while granting exemptions for small and non-interconnected entities. It also mandates strict supervisory oversight and reporting obligations to ensure compliance with EU prudential regulations.

The Cabinet of the Virgin Islands issued this Order pursuant to the BVI Business Companies Act, 2004, to amend the fee schedules in Schedule 1. The Order updates specific annual fees for companies under sections 182, 184, and 187, and introduces a new tiered structure for annual fees based on share authorization and company type under section 236. Additionally, it replaces fixed penalty amounts in Part II with percentages of the annual fee due for late payments.

The Financial Services Commission of the Virgin Islands issued this statutory instrument to amend the Regulatory Code (Recognised Exchanges) Notice, 2015. The amendment specifically inserts Fusang Exchange Ltd into the list of recognized exchanges in alphabetical order. This change was gazetted on January 6, 2022, pursuant to the powers conferred by section 2(1) of the Regulatory Code, 2009.

The Financial Services Commission of Jamaica proposes new market conduct guidelines to strengthen regulatory standards for securities dealers and enhance financial inclusion. The document mandates strict requirements for governance, conflict of interest management, client asset segregation, and suitability assessments to ensure fair dealing and integrity. It further establishes detailed protocols for confidentiality, complaint handling, marketing communications, and mandatory reporting of disciplinary actions or operational changes to the regulator.

The Financial Services Commission of Jamaica issued these guidelines to establish a prudential benchmark for the Retail Repo Mismatch Ratio, aiming to mitigate duration and liquidity risks in securities dealers' retail repurchase agreement business. The document defines the calculation methodology for the ratio and mandates a phased implementation schedule, requiring dealers to progressively reduce their RRMR from a monitoring range down to a final benchmark of 15% by December 31, 2020. Securities dealers exceeding specific thresholds during the transition period face enhanced supervisory measures, including mandatory action plans and potential enforcement actions, while an early warning indicator of 13.5% is introduced to ensure ongoing compliance.

The Financial Services Commission of Jamaica issued these guidelines to enhance investor protection by requiring securities dealers to register customer interests in repurchase agreements via pledges or segregated client holding accounts at JamCLEAR. Participating dealers must maintain clear records, perform ongoing reconciliations of liabilities and assets, and submit annual auditor verifications to ensure the segregation of client assets. Compliance is enforced through mandatory daily, weekly, and monthly reporting of assets and repo liabilities to the regulator starting in October 2010.

The Financial Services Commission of Jamaica issued these guidelines to enforce a large exposure framework for securities licensees, requiring them to identify, monitor, and manage risks associated with significant counterparty concentrations. The regulations establish a maximum exposure limit of 25% of a licensee's capital base to any single counterparty or group of connected counterparties, with specific exemptions for government securities and intra-day liquidity facilities. Licensees must implement robust board-approved risk management policies, report exposures quarterly, and adhere to a phased implementation schedule that fully enforces the limits by December 31, 2021.

The Financial Services Commission of Jamaica issued this guideline to regulate the conversion of pension plans from defined benefit to defined contribution structures. It mandates that such conversions constitute material changes requiring specific amendments, trustee resolutions, and member approval under the Pensions Regulations. The document details required submission documents and establishes principles for transparency, including the preservation of accrued benefits and accurate valuation of ancillary rights.

The Financial Services Commission of Jamaica issued these guidelines to establish suitability criteria for auditors of regulated entities in the securities, insurance, and private pensions sectors. The document mandates that appointed auditors must be properly licensed, possess relevant professional experience, maintain continuing education programs, and undergo quality assurance reviews. Additionally, auditors are required to demonstrate strict independence, objectivity, and impartiality to ensure the reliability of financial reporting for regulated entities.

The Financial Services Commission of Jamaica issued this consultation paper proposing amendments to the 2008 Guidelines for Issuers of Securities to enhance transparency and streamline registration processes. The proposed changes specifically target market conditioning restrictions, compliance with Sections 44-49 of the Securities Act, and procedures for issuers already listed on recognized stock exchanges. Additionally, the document outlines updated requirements for listing by introduction, ongoing reporting obligations, and the timetables for registering securities through public offerings.

The Financial Services Commission of Jamaica issued this consultation paper to amend the Guidelines for Exempt Distributions, aiming to provide clarity and enhance the regulatory framework for securities issued via exempt distributions. The proposed changes introduce stricter requirements for pre-notification, due diligence on accredited investors, and the maintenance of basic records, while also incorporating new reporting forms for outstanding exempt distributions. These amendments seek to address the significant growth in exempt funding by establishing clearer timelines for credit rating reports, filing deadlines, and marketing restrictions to ensure investor protection and market transparency.

The Financial Services Commission issued the Insurance (Returns) (Amendment) Rules 2022 to update statutory reporting requirements for licensed insurers. The amendment replaces Forms 4, 4A, 4B, and 6 in the Second Schedule with standardized schedules that detail revenue accounts, investment income, management expenses, and assets covering technical provisions across life assurance, pension, permanent health, and investment-linked business lines. These updated reporting templates mandate structured financial disclosures for insurers and officially commence on 3 September 2022.

The Financial Services Commission of Jamaica issued these guidelines to replace previous regulations and define the requirements for securities distributions exempt from prospectus registration. The document outlines specific exemptions for accredited investors, high-net-worth individuals, highly-rated debt, and private issuers, while mandating strict pre-notification and due diligence procedures. Issuers and licensed dealers must submit formal notices, offering memoranda, and periodic reports to the Commission to ensure compliance with marketing restrictions and record-keeping obligations.

The Financial Services Commission of Jamaica issued revised guidelines requiring insurance companies to establish a Board-approved Reinsurance Risk Management Plan to mitigate operational, legal, and counterparty risks. The document mandates rigorous due diligence on reinsurers, clear contractual terms ensuring genuine risk transfer, and specific insolvency protections to safeguard policyholders and creditors. Compliance involves annual reporting of reinsurance arrangements and a senior officer declaration confirming adherence to these standards, which take effect on January 1, 2022.

The Financial Services Commission issued these rules to amend the First Schedule of its consolidated licensing framework by introducing a new Money Lending category (FS-1.20) with specified fees of Rs. 43,000 (USD 1,000) and Rs. 82,000 (USD 1,900). The amendment formally updates the fee structure for financial service providers under the principal 2008 regulations. These rules took effect on 1 April 2022.

The Financial Services Commission of Mauritius has issued Amendment No. 2 to its Consolidated Licensing and Fees Rules, introducing a standardized fee structure for virtual asset service providers and initial token offering issuers. The amendment updates the First Schedule by establishing five specific virtual asset licence classes—broker-dealer, wallet services, custodian, advisory, and market place—alongside a dedicated class for token issuers. Each licence class now carries defined processing and fixed annual fees denominated in both United States dollars and Mauritian rupees, with the regulations taking effect on 7 May 2022.

The Financial Services Commission amended the First Schedule of its Consolidated Licensing and Fees Rules 2008 to establish a comprehensive fee structure for Variable Capital Companies. The updated schedule specifies processing and annual fees in Mauritian Rupees and US dollars, scaled according to the number of sub-funds, special purpose vehicles, and authorized fund classifications such as Special Purpose Funds and REITs. These regulatory changes commenced on 1 June 2022.

The Financial Services Commission of Mauritius amended the penalty schedule to establish a fixed US$ 10 per business day administrative penalty for non-compliance with the annual financial summary filing obligation. The rules delete a redundant reference to financial summaries in the existing schedule and explicitly codify this new penalty amount under section 71A(10) of the Financial Services Act 2007. These amendments commenced on 11 June 2022 and apply to all regulated entities required to submit their financial summaries annually.

The Financial Services Commission issued Amendment No. 4 to the Consolidated Licensing and Fees Rules 2008, updating fee structures and licensing requirements for global business and authorised companies. The amendments introduce quarterly proration for licence issuance fees, remove outdated category references, and establish a new table calculating first annual licence fees based on the month of grant. These revised charges and reinstatement schedules take effect on 1 July 2022, standardizing cost calculations for corporate and trust service providers while streamlining compliance obligations.

The Financial Services Commission issued Amendment No. 5 to the Consolidated Licensing and Fees Rules 2008, updating fee schedules for insurers and reinsurers. The amendment adds a specific charge of 0.35 percent of gross premiums, capped at USD 10,000, for structured investment-linked insurance business under items INS-1.1 and INS-1.1Av. These updated licensing requirements take effect on 3 September 2022, directly modifying premium calculations for affected policy issuances.

The Financial Services Commission of Mauritius has issued the Virtual Asset and Initial Token Offerings Services (Statutory Returns) Rules 2022 to establish comprehensive reporting and compliance obligations for virtual asset service providers operating in the jurisdiction. The rules mandate immediate notification of regulatory breaches, license modifications, and operational changes, while requiring prior approval for material business activity shifts and detailed annual submissions covering client metrics, risk assessments, cybersecurity reviews, and custody arrangements. Applicable to all virtual asset service providers carrying out business in or from Mauritius, these regulations commenced on 1 July 2022 and require annual reports to be filed within four months following the close of each financial year.

The Financial Services Commission of Mauritius issued these rules to establish supplementary obligations for virtual asset service providers, intermediary providers, and financial institutions handling cross-border and domestic wire or batch transfers of virtual assets. The regulations mandate that all such transfers be accompanied by accurate originator and beneficiary information, with batch files containing specific traceable identifiers like account numbers or national identification details. Furthermore, intermediary providers must retain transaction records for at least seven years and implement risk-based policies to execute, reject, or suspend transfers lacking required data.

The Financial Services Commission has issued Amendment No. 6 to the Consolidated Licensing and Fees Rules 2008, effective 26 November 2022. This amendment updates the First Schedule by introducing a new licensing category for Third Party Administrators under Insurance Service Providers. The updated schedule specifies applicable Insurance Act sections and establishes processing fees of Rs 25,000 or USD 1,000 alongside fixed annual fees of Rs 47,500 or USD 1,900.

The Financial Services Commission of Mauritius issued the Insurance (Structured Investment-Linked Insurance Business) Rules 2022 to establish a comprehensive regulatory framework for long-term insurers offering Structured Investment-Linked Insurance Business (SILIB). The rules mandate that insurers obtain prior regulatory approval, appoint approved custodians to safeguard and invest policy assets, maintain minimum liquidity and reserve funds, and adhere to strict anti-money laundering and disclosure standards. By setting clear parameters for asset management, performance fees, premium thresholds, and policyholder communications, the regulations ensure transparent risk allocation and protect beneficiaries while enabling insurers to internally manage or outsource SILIB fund administration.

The Financial Services Commission of Mauritius issued these Rules to license domestic entities providing Global Shared Services to related overseas financial firms. The framework mandates local operations, resident boards, proportional staffing and expenditure, dedicated infrastructure, robust risk management, professional indemnity insurance, and restricted activity scopes. Existing providers must apply for licences within six months of the 3 January 2023 commencement date.

The Financial Services Commission issued these rules to amend the Private Pension Schemes (Disclosure) Rules 2012 by inserting a new disclosure requirement into the First Schedule. This amendment mandates that pension schemes report whether they maintain a smoothing reserve. The rules officially came into operation on 16 April 2022.

The Financial Services Commission of Mauritius amended the technical funding requirements for private pension schemes by formally introducing and regulating smoothing reserves. The rules mandate that schemes maintaining such reserves must establish, approve, and file an investment reserve management policy detailing return allocation, reserve building, and risk appetite, while requiring annual actuarial disclosures and triennial reviews. Furthermore, the amendments clarify that sponsoring employers hold no claim on smoothing reserves and specify technical provision calculations for schemes operating both defined contribution and defined benefit sections.

The Financial Services Commission of Mauritius issued these rules to regulate how virtual asset service providers and initial token offering issuers advertise their products domestically and internationally. The regulations mandate that all advertisements remain fair, clear, accurate, and properly balanced regarding risks, costs, and performance data. They impose strict disclosure obligations, assign direct liability to service providers for third-party promotions, and establish specific conduct standards for digital platforms, cold calls, and inducements to protect consumers.

The Financial Services Commission amended the Financial Services (Family Office) Rules 2020 to establish a USD 5 million minimum aggregate value for assets and investments managed by a SFO or MFO. This change replaces the previous threshold in Rule 5 and applies to all licensed family offices operating under the principal rules. The amendment was issued on 21 September 2022 and is deemed to have taken effect retroactively from 30 September 2022.

The Financial Services Commission of Mauritius has issued these rules to mandate strict custody standards for virtual asset service providers holding client crypto assets. Virtual Asset Custodians must safeguard ownership through segregated or omnibus holding, obtain express written consent before using assets for their own account, and maintain reliable infrastructure alongside annual technology audits. The regulations further require rigorous internal record checks, two-monthly external reconciliations with third-party custodians, and prompt shortfall allocation to ensure accurate client asset tracking and risk mitigation.

The Financial Services Commission issued the Insurance (Long-Term Insurance Business Solvency) (Amendment) Rules 2022 to update solvency calculations for long-term insurers. The amendment introduces definitions for "custodian" and "structured investment-linked insurance business," while revising rule 12 to exclude assets backing linked and structured policies from an insurer's total assets. These revised provisions exempt specific collective investment scheme investments and custodian-held assets from the rule, taking effect on 3 September 2022.

The Financial Services Commission of Mauritius issued the Virtual Asset and Initial Token Offerings Services (Client Disclosure) Rules 2022 to mandate comprehensive, clear, and fair disclosure obligations for virtual asset service providers operating in or selling into the country. The rules require providers to transparently communicate client rights, conflicts of interest, execution factors, risk profiles (including volatility and security), fee structures, and custody arrangements before delivering services. Providers must maintain accurate records for at least seven years, ensure advertisements and performance claims are substantiated and not misleading, and comply with these standards effective 1 July 2022.

The Financial Services Commission of Mauritius has issued the Virtual Asset and Initial Token Offerings Services (Cybersecurity) Rules 2022 to mandate comprehensive cybersecurity and operational risk management for all virtual asset service providers operating in or from the jurisdiction. These rules require providers to establish robust internal controls, secure data confidentiality and integrity, conduct annual external audits, maintain documented business continuity plans with tested alternative sites, and ensure active senior management oversight alongside staff training. Providers must submit annual cybersecurity and operational resilience reviews to the Commission, regularly update their frameworks in response to emerging cyber threats, and appropriately integrate insurance without compromising core system resilience.

The Financial Services Commission of Mauritius has established a comprehensive framework for imposing administrative penalties on licensees under the Financial Services Act. The rules mandate that penalties be calculated as a percentage of relevant gross income, ranging from one to fifteen percent based on breach severity, while allowing for early settlement discounts, mitigating factors, and financial hardship reductions. Capped at ten million Mauritian rupees, the framework operates alongside existing sanctions and applies to breaches occurring on or after October 2022.

The Financial Services Commission of Mauritius issued these rules to impose comprehensive risk management and capital adequacy requirements on virtual asset service providers operating in or from the jurisdiction. The regulations mandate that providers establish and document robust risk assessment strategies covering credit, liquidity, operational, market, and concentration risks while maintaining sufficient unimpaired capital to meet obligations as they fall due. Providers must conduct annual compliance reviews within four months of each financial year end and may utilize insurance policies to mitigate risks, provided they carefully evaluate coverage types, insurer strength, claim timelines, and exclusion clauses.

The Financial Services Commission of Mauritius issued these rules to establish mandatory capital and liquidity standards for all virtual asset service providers operating in the jurisdiction. The regulations require firms to maintain unimpaired capital meeting either their own funds or prudential requirements, with specific minimum thresholds set for services such as custody, marketplaces, and broker-dealing. Additionally, the rules mandate precise calculations of fixed overheads, deductible expenses, and accurate financial reporting to ensure ongoing solvency and risk management.

The Financial Services Commission of Mauritius issued these guidelines to establish standardized regulatory expectations and procedures for issuing corporate and green bonds. The framework mandates eligible issuers to meet specific net asset and track record thresholds, requires a minimum MUR 100 million issue size for corporate bonds (while exempting green bonds), and enforces strict utilization of proceeds alongside dematerialized debenture structures. Issuers must navigate public or preferential offering routes, appoint licensed intermediaries such as Investment Dealers and Registrar and Transfer Agents, and comply with comprehensive disclosure and ongoing reporting obligations to ensure market transparency and mitigate greenwashing.

The Financial Supervision Commission issued Ordinance No. 2 to establish detailed requirements for the initial disclosure of information via prospectuses and ongoing disclosure by public companies and other securities issuers. The regulation mandates specific content, formats, and timelines for annual, half-yearly, and interim financial reports, as well as procedures for prospectus approval, publication, and notification of offering results. It further defines equivalence conditions for third-country reporting standards and imposes strict disclosure obligations on issuers undergoing insolvency or liquidation proceedings.

The Financial Services Commission of the Virgin Islands issued this notice to prohibit the use of specified words, phrases, and abbreviations in limited partnership names without prior regulatory approval. Under the Limited Partnership Act, 2017, the Registrar must refuse registration for any entity incorporating these restricted terms unless the Commission provides explicit written consent. When consent is granted for an abbreviated designation, the approved limited partnership may alternatively use the full name or add optional full-stops to the abbreviation.

The Legislature of the Virgin Islands enacted the Counter-Terrorism Act, 2021 to criminalize terrorism and the financing of terrorism while establishing frameworks for detection, prevention, and prosecution. The legislation empowers the Governor to designate terrorist entities and imposes strict prohibitions on dealing with their property, alongside mandatory reporting requirements for suspicious activities. It further grants police extensive investigative and counter-terrorist powers, including arrest without warrant and search authorities, to ensure compliance with international counter-terrorism conventions.

The Financial Supervision Commission issued Regulation No. 71 of 22.07.2021 to establish detailed governance and operational requirements for insurers and reinsurers in Bulgaria. The regulation mandates proportional management structures, strict separation of duties, documented decision-making, robust risk management, and business continuity plans tailored to each entity's size and complexity. It further enforces periodic system reviews, alignment with group-level policies, and timely reporting obligations to ensure financial stability and regulatory compliance.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Investigation Agency Act, 2003, thereby expanding the Agency's statutory powers and supervisory responsibilities. The legislation introduces new definitions for financial crimes, establishes a Board of the Agency, and mandates the supervision of designated non-financial businesses and professions as well as non-profit organizations. It further empowers the Agency to freeze accounts, require document production, and enforce fit and proper person tests to combat money laundering, terrorist financing, and proliferation financing.

The Legislature of the Virgin Islands enacted this amendment to replace references to the Director of Public Prosecutions with the Attorney General across multiple provisions of the 1993 Criminal Justice (International Cooperation) Act. The legislation establishes a new Council of Competent Authorities, composed of senior officials from financial services, law enforcement, and tax agencies, to coordinate policy, conduct risk assessments, and report on international cooperation matters. The Council operates with a three-person quorum, holds quarterly meetings, and may delegate functions or form sub-committees, with the Act commencing on a date to be proclaimed by the Governor.

The Cabinet of the Virgin Islands issued this Order to amend Schedule 1 of the BVI Business Companies Act, 2004, pursuant to advice from the Financial Services Commission. The amendment updates various statutory fees, including new charges for registered agent resignations, foreign company notices, and certified copies of corporate documents. It also introduces a general registration fee of $100 for transactions not otherwise specified in the Schedule.

The Commission for Financial Supervision issued Ordinance No. 70 to establish detailed requirements for the formation, maintenance, and calculation of funds for lifetime pensions and deferred payments. The regulation mandates specific methodologies for determining required fund sizes, calculating surpluses, and managing the transfer of assets from universal pension funds to ensure solvency. It further introduces new reserve requirements for guaranteeing lifetime pension payments and updates related administrative and accounting procedures for insurance companies.

The Commission for Financial Supervision issued Ordinance No. 10 to establish detailed requirements for the solvency margin, own funds calculation, recovery plans, and minimum liquid assets of pension insurance companies and their managed funds. The regulation defines the composition of own funds, sets the solvency margin at 4% of capitalized liabilities (minimum 3.75 million euros), and mandates specific investment diversification limits for capital coverage. It further prescribes the structure of recovery programs for non-compliant entities and establishes strict liquidity ratios and reporting obligations for universal, professional, and payment funds.

The Legislature of the Virgin Islands enacted this Act to amend the Drug Trafficking Offences Act, 1992, primarily by transferring investigative and reporting authorities from police officers and the Steering Committee to the Financial Investigation Agency. The legislation mandates that authorities investigate related drug money laundering offences concurrently with drug trafficking crimes and establishes the Agency as the sole recipient of suspicious transaction reports. Additionally, the Act updates terminology regarding external confiscation orders and expands the powers of officers to seize cash suspected of being linked to drug trafficking or money laundering.

The Legislature of the Virgin Islands enacted the Financing and Money Services (Amendment) Act, 2021 to amend the Financing and Money Services Act, 2009. This legislation inserts a new subsection into section 45A requiring the Commission to retain ten thousand dollars from quarterly transaction levy collections before transferring the remainder to the miscellaneous purposes fund. The Act was assented to on June 14, 2021, and is deemed to have come into force on May 4, 2020.

The Legislature of the Virgin Islands enacted this Act to amend the Proceeds of Criminal Conduct Act, 1997, by expanding the definition of property to include virtual assets and introducing new definitions for money laundering and terrorist financing. The legislation establishes a National Anti-money Laundering and Terrorist Financing Coordinating Council to oversee policy compliance and mandates that the Financial Investigation Agency serve as the central authority for receiving suspicious transaction reports. Additionally, the Act requires concurrent investigations of related money laundering offences, updates various procedural sections by replacing references to the Steering Committee with the Agency, and clarifies powers regarding the seizure of cash linked to criminal conduct.

The Legislature of the Virgin Islands enacted this Act to authorize the resealing of foreign probates and letters of administration, granting them full legal effect locally upon High Court approval. The Court mandates payment of applicable stamp duties and may require security for local creditors before sealing, while recognizing estates from 67 designated jurisdictions including the United Kingdom and the United States. The legislation repeals prior resealing laws, empowers the Governor to amend the recognized jurisdiction list via Order, and establishes court rules governing related procedures and fees.

The Commission for Financial Supervision issued Decree No. 69 to establish the maximum limits for technical interest rates used in calculating additional life old-age pensions and to define the specific mathematical formulas for these calculations. The decree mandates that technical interest rates must not exceed the seven-year average of the long-term convergence assessment rate published by the Bulgarian National Bank, with specific caps for early retirement pensions. It further details the precise actuarial formulas for determining pension sizes based on guaranteed payment periods, deferred payments, and individual account balances.

The Acting Minister of Finance of the British Virgin Islands issued this notice to appoint the effective date for the BVI Business Companies (Amendment of Schedule 1) Order, 2021. Exercising powers under section 1(2) of the Order, the Minister declared that the legislation shall come into force on July 1, 2021. This appointment was formally made and gazetted on May 31, 2021.

The Ag. Minister of Finance of the Virgin Islands issued this notice to appoint the effective date for the Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2021. Acting under the authority of Regulation 1(2) of the specified Statutory Instrument, the Minister formally declares that the regulations shall come into force on July 1, 2021. This declaration was made on May 31, 2021, and published in the Gazette to establish the legal commencement of the amended fee structures.

The Financial Supervision Commission issued Ordinance No. 7 to establish the procedures for acquiring, recognizing, and revoking the professional qualification of financial instrument brokers and investment consultants in Bulgaria. The regulation mandates that individuals must pass a Commission-organized exam or have their foreign qualifications recognized to obtain a certificate, which is then recorded in an official registry. It further outlines strict notification requirements for employment changes, annual activity reporting, and the grounds for revoking qualifications, including fraud or inactivity.

The Legislature of the Virgin Islands enacted this Act to amend the Trustee Act by inserting new sections 58B and 59A, which empower courts to vary trusts and set aside flawed fiduciary decisions. The legislation clarifies that settlor reservations or grants of limited beneficial interests do not invalidate trusts or trigger succession duties, while expanding statutory definitions of beneficiaries and office-holders. It further imposes a mandatory five-year record-keeping obligation on relevant trustees of applicable trusts and extends key trust provisions to foreign-governed trusts administered locally.

The Financial Services Commission of Mauritius has issued these guidelines to establish five fundamental principles for prudent mortgage underwriting and loan asset acquisition by insurers. Insurers must implement board-approved policies defining risk appetite, debt-to-income and loan-to-value limits, borrower credit assessments, and property valuation standards. The framework mandates robust internal controls, periodic supervisory reporting, and annual executive declarations to ensure ongoing compliance and effective risk management.

The Legislature of the Virgin Islands enacted this Act to amend the Financial Services Commission Act, 2001 by modifying Section 54A and inserting a new Section 54B. The amendments expand liability definitions for licensees and agents while establishing a formal waiver process for monetary penalties imposed for late document filings. This new framework allows the Commission to waive penalties under specific conditions involving agent default or acts of God, while retaining authority to sanction agents or licensees responsible for such failures.

The Legislature of the Virgin Islands enacted this amendment to modify Section 12 of the Virgin Islands Special Trusts Act, 2003. The legislation specifically replaces the statutory reference to "section 58" with "sections 58 and 58B" in subsection (4). The Act takes effect on a date designated by the Minister via Gazette notice, ensuring updated regulatory alignment for registered special trusts.

The Legislature of the Virgin Islands enacted this amendment to update the Administration of Small Estates Act by raising the small estate threshold to twenty-five thousand dollars and specifying Virgin Islands domicile. The legislation also increases a related administrative fee to twenty-five dollars and replaces Section 8 to impose fines up to five thousand dollars or imprisonment for up to twelve months on individuals who knowingly submit false statements to the Registrar. The Governor will determine the commencement date through a Gazette proclamation, bringing these procedural and financial updates into force across the jurisdiction.

The Legislature of the Virgin Islands enacted this Act to amend the 2003 Property Act by inserting a new section that validates dispositions in favor of unborn illegitimate children and clarifies the retrospective application of trust and disposition rules. The legislation explicitly shields prior property distributions from restitution or compensation claims triggered by this legal change, defining valid distributions as those unimpugnable under the prevailing law at the time of transfer. The Act will commence on a date designated by the Governor through an official Gazette proclamation.

The Financial Services Commission of Mauritius has issued guidelines establishing the regulatory framework for converting or shifting defined benefit pension schemes to defined contribution structures. Sponsoring employers must submit a comprehensive application pack containing actuarial valuations, amended constitutive documents, and evidence of member communication and consent to demonstrate full funding or address deficits through lump-sum contributions or approved contingency plans. The guidelines mandate clear disclosure of commuted values and benefit options, allowing members to either convert their accrued benefits into individual DC accounts or shift to future accrual under a DC scheme while preserving past service entitlements.

The Financial Services Commission of the Virgin Islands issued the Regulatory (Amendment) Code, 2021 to amend the Financial Services Commission Act, 2001. The Code updates Section 59 to expand the recognized international auditing standards for licensee financial statements and inserts Section 142A to mandate comprehensive claims handling records for licensed insurers and intermediaries. These requirements ensure that insurers maintain detailed documentation of claim inception, investigation, and settlement to demonstrate compliance and transparency to clients and regulators.

The Financial Services Commission of the Virgin Islands issued this 2021 Code to establish binding market conduct rules for insurers, intermediaries, and loss adjusters. The regulation mandates strict standards for honesty, transparency, and fair treatment, requiring comprehensive disclosure of policy terms, pricing, and risks to customers before and after contract inception. It further enforces obligations for prompt claims processing, effective complaint handling, and conflict of interest management, with the Commission empowered to enforce compliance through administrative penalties and fit-and-proper assessments.

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 (Limited Partnership Fees) Regulations, 2018. The amendment introduces specific fees for documents issued by the Registrar, including $75 for certified copies of certificates and $50 for uncertified copies, duplicates, or physical copies where electronic versions exist. Additionally, a $100 fee is established for any other certified or uncertified documents not otherwise specified in the Schedule.

The Financial Services Commission of the Virgin Islands issued this Order to amend the Financial Services (Prudential and Statistical Returns) Order, 2009. The amendments mandate the electronic filing of prudential and statistical returns and update reporting requirements for mutual funds, banks, and fiduciary services businesses. These changes include revised submission deadlines, new form structures, and specific data collection regarding client jurisdictions and business activities.

The Financial Services Commission of Mauritius issued these guidelines to require all long term insurers to calculate their minimum capital buffer, known as the Stress Test Requirement, by taking the higher of Termination and Ordinary Capital Adequacy Requirements. The framework provides detailed formulaic methods to quantify capital needs across ten specific risk categories, including lapse, investment, and foreign exchange risks. Insurers must apply prescribed valuation assumptions and margins while incorporating board-approved management actions to ensure sufficient assets cover future liabilities under adverse market conditions.

The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the Financial Services (Exemptions) Regulations, 2007. The amendments modify the Schedule by deleting the word 'professional' from paragraph 2(4)(a) and revoking sub-paragraph (i) of paragraph 6(1)(b). These changes were made on January 8, 2021, and the Regulations come into force on a date determined by the Minister via Gazette notice.

The Financial Services Commission has issued the Securities (Preferential Offer) (Amendment No. 2) Rules 2021 to amend the 2017 Principal Rules governing securities offerings. The amendments explicitly exclude securities offers made by collective investment schemes and closed-end funds, along with Permitted CIS Activities, from the application of these rules. Additionally, rule 8 restricts the definition of investor to those located in Mauritius, with all provisions taking effect on 4 September 2021.

The Financial Services Commission of Mauritius issued the Securities (Real Estate Investment Trusts) Rules 2021 to establish a comprehensive regulatory framework for collective investment schemes and closed-end funds operating as Real Estate Investment Trusts. The Rules mandate that authorised REITs secure a minimum 90 percent funding threshold, list on an Official Exchange within six months, and invest at least 75 percent of their gross asset value in income-producing real estate while capping aggregate borrowings at 45 percent. Furthermore, REITs must appoint independent functionaries including a licensed CIS manager and valuer, distribute at least 75 percent of their distributable income annually to participants, and submit audited financial statements within six months of each balance sheet date.

The Financial Services Commission amended the 2013 brokerage fee rules to establish a transparent pricing framework for debenture transactions on securities exchanges. Licensed investment dealers must now recover fair fees from clients, publish maximum rates online, and disclose all applicable charges to the exchange, clearing facility, and Commission. Setting fixed regulatory levies at MUR 2 or 0.0025 percent based on transaction value, the rules remove specific apportionment columns from the schedule and take effect on 3 April 2021.

The Financial Services Commission issued the 2021 Amendment Rules to regulate brokerage fees for exchange-traded funds on foreign underlyings. Licensed investment dealers must now charge fair, transaction-value-based fees and prominently publish their maximum rates online. The Commission retains authority to mandate downward fee revisions for excessive charges and requires dealers to clearly disclose all transaction-related costs to clients.

The Financial Services Commission issued Amendment No. 2 to the 2013 Securities Rules governing brokerage fees for exchange traded funds on foreign underlyings. The amendment updates rule 3 to reference the Schedule for consideration values and deletes four reporting columns—Investment Dealer, Securities exchange, Clearing and Settlement Facility, and Total brokerage fee claimed for apportionment—from the Schedule’s tables. These streamlined requirements take effect retroactively from 3 April 2021 to standardize fee disclosures and reduce administrative reporting burdens for market participants.

The Financial Services Commission of Mauritius issued the Financial Services (Peer to Peer Lending) (Amendment) Rules 2021 to update the regulatory framework for peer-to-peer lending operators. The amendment replaces the definitions of "escrow account" and "sophisticated investors" with "expert investor", increases the applicable lending limit threshold from three to five, and exempts expert investors from these limits when lending through P2P operators. It further mandates P2P operators to segregate lenders' and borrowers' funds in designated Mauritian bank accounts, with the rules taking effect on 6 March 2021.

The Financial Services Commission issued these rules to amend the consolidated licensing and fees schedule effective 4 September 2021. The amendments introduce a new fee structure for crowdfunding activities, specifying fixed amounts of Rs 40,000 or Rs 80,000 alongside a 0.35 percent charge on gross fees. Additionally, the rules impose an extra annual fee of Rs 200,000 for entities authorized to operate as real estate investment trusts across multiple existing license categories.

The Financial Services Commission issued the Securities (Exemption) Rules 2021 to exempt specific entities from designated provisions of the Securities Act. Closed-end funds authorized as real estate investment trusts are exempt from Section 88 of Part V, while crowdfunding licence holders receive a blanket exemption from all provisions. These exemptions commenced on 4 September 2021 and apply to the categories of persons specified in the accompanying schedule.

The Financial Services Commission issued Amendment No. 2 to the Consolidated Licensing and Fees Rules 2021, amending the First Schedule of the principal 2008 regulations. This amendment mandates an additional annual fee of Rs 200,000 (USD5,000) for entities authorized to operate as Special Purpose Funds. The revised licensing framework and fee structure officially take effect on 17 April 2021.

The Financial Services Commission of Mauritius has issued the Securities (Brokerage Fees for Government of Mauritius Securities and Bank of Mauritius Securities) (Amendment) Rules 2021 to modify existing brokerage fee regulations. The amendment removes the terms "total" and "apportioned" from Rule 3 and eliminates designated columns for Securities Exchange, Clearing and Settlement Facility, Investment Dealer, and Total Brokerage Fee from Parts I and II of the Schedule. These revised rules take effect on 3 April 2021, streamlining the fee structure for relevant securities transactions.

The Financial Services Commission issued the Securities (Disclosure Obligations of Reporting Issuers) (Amendment) Rules 2021 to modify the 2007 Principal Rules governing securities disclosures. The amendment introduces a new rule exempting specific securities offers from the Principal Rules and updates multiple existing rules to explicitly permit or require disclosure via website publication. Repealing rule 16A and taking effect on 4 September 2021, these changes streamline reporting issuer obligations by modernizing disclosure methods and clarifying applicability.

The Financial Services Commission issued these rules to amend the Securities (Public Offers) Rules 2007 by deleting paragraph (d) of item 43 and item 46 from Part VI of the schedule. The amendments remove specific regulatory provisions governing public securities offerings and take effect retroactively from 3 April 2021. Enacted under sections 93 and 155 of the Financial Services Act and Securities Act, the rules were formally made on 10 April 2021.

The Financial Services Commission amended the Securities (Solicitation) Rules 2020 to extend solicitation obligations to holders of Robotic and Artificial Intelligence Enabled Advisory Services Licences. The amendment modifies the principal rules' schedule by adding a specific item that classifies these licence holders under the existing regulatory framework. These rules officially come into operation on 12 June 2021.

The Financial Services Commission issued the Securities (Investment Advice) Rules 2021 to exempt specific licence holders from Section 30 of the Securities Act. The exemption applies specifically to holders of Robotic and Artificial Intelligence Enabled Advisory Services Licences, as detailed in the schedule. These rules took effect on 12 June 2021, streamlining regulatory compliance for AI-driven advisory service providers under the Financial Services Act framework.

The Financial Services Commission of Mauritius has issued the 2021 Rules to establish a dedicated licensing framework for entities providing robotic and artificial intelligence-enabled advisory services. Licensees must maintain a minimum capital of MUR 600,000, secure at least MUR 2 million in professional indemnity insurance, and operate with segregated client funds, robust local infrastructure, and strict algorithm governance. The regulations mandate rigorous client due diligence, transparent disclosures regarding automated advice and statutory compensation limitations, and biennial independent evaluations of the underlying software systems.

The Financial Services Commission of Mauritius issued the Financial Services (Crowdfunding) Rules 2021 to establish a mandatory licensing and operational framework for crowdfunding platforms operating domestically. The regulations require platform operators to maintain MUR two million in capital, implement robust governance and cybersecurity controls, and conduct thorough due diligence on issuers and retail investors, who are subject to a MUR 350,000 investment cap over twelve months. Platforms must segregate client funds, prominently disclose risk and failure rates, enforce a 48-hour withdrawal window, and manage conflicts of interest to guarantee transparency and fair treatment across the ecosystem.

The Financial Services Commission of Mauritius amended the Securities (Preferential Offer) Rules 2017 to clarify their territorial scope and update approval procedures for preferential securities offerings. The revisions exclude foreign-incorporated issuers and those offering exclusively to non-residents, while mandating shareholder approval with annexed information for equity offers and constitutional document compliance for debt offerings. Additional textual amendments refine cross-references, update regulatory authority identification under the IOSCO Multilateral Memorandum of Understanding, and establish an effective date of 3 April 2021.

The Financial Services Commission has amended the First Schedule to its Consolidated Licensing and Fees Rules 2008 by updating the fee structures for single and multiple Family Office licenses under Section 14. The amendment introduces specific Mauritian Rupee equivalents alongside existing United States Dollar amounts for processing, fixed annual, and variable annual fees. These revised fee schedules officially commence on 6 March 2021, directly adjusting licensing costs for family office operators.

The Financial Services Commission of Mauritius issued these Rules to establish a regulatory framework authorizing collective investment schemes and closed-end funds as special purpose funds. Authorized entities must conduct private placements exclusively to a maximum of fifty experienced investors with minimum subscriptions of one hundred thousand US dollars, while ensuring core management and administration activities remain based in Mauritius. The Commission retains full authority to impose conditions, withdraw or accept the surrender of authorizations for non-compliance, and mandates audited financial reporting while granting targeted disclosure exemptions.

The Financial Services Commission issued these amendment rules to modernize brokerage fee regulations for turnaround trades by replacing legacy definitions of CDS and SEM with licensed clearing facilities and securities exchanges. Investment dealers must now charge fair brokerage fees relative to transaction values, publish their maximum fees on company websites according to a prescribed schedule, and remit 0.005 percent of each transaction's consideration to the Commission. The regulator retains authority to mandate downward fee revisions when charges prove excessive or abusive, with the updated framework taking effect on 3 April 2021.

The Financial Services Commission issued these rules to amend the First Schedule of its Consolidated Licensing and Fees Regulations by adding a new category for Robotic and Artificial Intelligence Enabled Advisory Services. The amendment establishes application fees of Rs. 20,000 (USD 500) and annual fees of Rs. 76,000 (USD 1,900) under item FS-1.18. The updated licensing framework takes effect on 12 June 2021, formally integrating automated advisory providers into the existing regulatory structure.

The Financial Services Commission of Mauritius issued the 2021 Amendment Rules to strengthen solvency and asset management requirements for licensed funeral scheme managers. The amendments mandate that admitted assets remain invested locally and consistently cover admitted liabilities, while requiring liquid asset holdings to equal at least three months of certified expenses. Managers must promptly address asset-liability shortfalls by submitting actuary-certified solvency reports and remedial plans, alongside updated schedules detailing excluded assets and long-term cash flow projections.

The Financial Services Commission has amended the Securities (Authorization of Foreign Investment Dealers) Rules 2010 to streamline the authorization process for foreign investment dealers. The revised framework updates statutory definitions, mandates that applicants originate from IOSCO-MMOU adhering jurisdictions, and specifies detailed documentation requirements including foreign licenses and certificates of good standing. A designated officer must now serve as the primary regulatory liaison with clearly defined compliance functions, and these amendments officially take effect on 3 April 2021.

The Financial Services Commission issued the 2021 Amendment Rules to modify the operational framework for family offices under the Financial Services Act. The revised Rule 4 restricts clients exclusively to family members and their private wealth structures, while explicitly permitting wholly-owned and family-controlled multi-family or single-family office models. These amendments take effect on 6 March 2021, establishing clear compliance benchmarks for licensed family offices.

The Financial Services Commission of Mauritius issued these Guidelines to establish comprehensive criteria and ongoing assessment procedures for determining whether licensees, applicants, directors, officers, and shareholders meet the "fit and proper" standard. The document mandates that regulated entities implement internal controls, submit a Fit and Proper Person Questionnaire, and promptly disclose material changes or breaches to maintain their licenses. By applying a cumulative assessment of honesty, competence, and financial soundness, the FSC ensures high market conduct standards while protecting consumer interests and deterring regulatory abuse.

The Financial Supervision Commission issued Regulation No. 8 to establish detailed operational, risk management, and record-keeping requirements for central securities depositories and the central securities register in Bulgaria. The regulation mandates specific procedures for the registration and deregistration of financial instrument issues, the maintenance of accurate shareholder and investor registers, and the settlement of transactions in compliance with EU Regulation 909/2014. It further defines the liability of depositories for data accuracy, the issuance of ISIN codes, and the governance of settlement systems to ensure market integrity and investor protection.

The Minister of Finance of the Virgin Islands issued this Order under the authority of the Financial Services (Regulatory Sandbox) Regulations, 2020. The Order formally establishes the legal citation for the Financial Services (Regulatory Sandbox) Order, 2020. It mandates that the associated Regulations shall come into force on August 31, 2020.

The Financial Services Commission and the International Tax Authority have executed a Memorandum of Understanding to formalize their cooperation and information exchange regarding compliance, intelligence sharing, and mutual support. The agreement establishes standardized procedures for spontaneous and requested information sharing, designates specific points of contact, and mandates strict confidentiality while permitting onward disclosure with prior written consent. Applicable to persons regulated by the FSC or monitored by the ITA, the framework outlines cost-sharing arrangements, joint inspection support, and clear amendment or termination mechanisms without creating directly enforceable legal rights.

The Cabinet of the Virgin Islands issued these regulations under the Insolvency Act to amend the Insolvency Practitioners Regulations, 2004. The amendment introduces a new Regulation 5A requiring a non-refundable fee of five hundred dollars to accompany notices of proposed appointments for overseas insolvency practitioners. These regulations were gazetted on July 16, 2020, and came into force on August 1, 2020.

The Financial Services Commission of the British Virgin Islands issues this guidance to clarify licensing requirements for virtual asset activities under existing financial services legislation. The document distinguishes utility tokens from investment-type digital assets, outlining specific regulated activities such as custody, exchange operations, and debt instruments under the Securities and Investment Business Act. It establishes a six-month compliance period for existing intermediaries to secure necessary licenses or certificates, ensuring ongoing adherence to anti-money laundering and regulatory codes.

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.

The Cabinet of the Virgin Islands issued these Regulations under the Financial Services Commission Act, 2001, to establish a Regulatory Sandbox for testing innovative FinTech products. The Financial Services Commission is empowered to approve applicants who meet fitness and propriety standards, allowing them to test services with limited client exposure while being exempt from certain licensing requirements. Participants must adhere to strict ongoing obligations, including risk management, detailed reporting, and client disclosure, with the Commission retaining the authority to revoke approval for non-compliance or public interest concerns.

The Financial Supervision Commission issued Decree No. 38 to establish detailed requirements for the governance, suitability assessments, and internal organization of investment intermediaries and related financial holding companies in Bulgaria. The regulation mandates rigorous initial and periodic evaluations of the individual and collective fitness of management and supervisory board members, incorporating checks for reputation, integrity, and anti-money laundering compliance. It further specifies operational obligations for compliance units, risk management, and the handling of structured deposits and securities financing transactions to ensure market transparency and client protection.

The Financial Services Commission of the Virgin Islands issued a notice under the Financing and Money Services Act, 2009 to establish the payment schedule for transaction levies. The Commission determined that Class A licensees must pay the collected transaction levy on a quarterly basis rather than monthly. This new quarterly payment requirement takes effect from June 30, 2020.

The Financial Services Commission of the Virgin Islands issued this notice under Section 18(2) of the Financial Services (Exceptional Circumstances) Act, 2020. The Commission extended the operation of the Financial Services (Exceptional Circumstances) Order, 2020, which was originally set to expire on April 30, 2020. This extension prolongs the Order's validity for an additional three months, ending on July 31, 2020.

The Minister of Finance of the Virgin Islands issued this statutory instrument to exercise powers granted under Section 1(2) of the Financing and Money Services (Amendment) Act, 2020. The notice formally declares that the Act shall come into force on May 4, 2020. This appointment of the effective date was made by Andrew A. Fahie on April 30, 2020, and published in the Gazette.

The Legislature of the Virgin Islands enacted this Act to amend the Financing and Money Services Act, 2009 by introducing a new transaction levy and establishing a dedicated fund. Class A licensees are required to collect a 7% levy on cross-border money transmission services, with proceeds allocated quarterly to a miscellaneous purposes fund for specific social and economic programs. The legislation also increases penalties for unlicensed money services business operations and grants the Minister authority to adjust levy rates and allocation percentages via Order subject to legislative approval.

The Minister of Finance of the Virgin Islands issued this Order to declare the COVID-19 pandemic an exceptional circumstance requiring special measures for financial services administration. The Order applies specific provisions of the Financial Services (Exceptional Circumstances) Act, 2020 to all licensees and persons subject to financial services legislation. It remains in force from March 30, 2020, until April 30, 2020, while ensuring the Financial Services Complaints Tribunal continues its functions beyond the Order's expiry.

The Financial Services Commission of the Virgin Islands amended Section 15 of the Public Funds Code by inserting a new paragraph requiring fund property to be valued at least annually. This statutory instrument adjusts existing punctuation and structural references while formally establishing the annual valuation mandate for regulated entities. Deemed effective upon the commencement of the 2019 Amendment Act, the updated Code directly governs ongoing valuation compliance standards.

The Legislature of the Virgin Islands enacted this Act to empower the Minister and the Financial Services Commission to implement special measures ensuring the continuity of financial services business during declared exceptional circumstances. The legislation grants the Commission authority to waive administrative requirements, permit licensees to temporarily relocate operations to other jurisdictions, and disapply certain regulatory provisions to minimize disruption. Additionally, the Act establishes a Financial Services Complaints Tribunal to handle consumer grievances and modifies licensing rules for loss adjusters to maintain market stability.

The Financial Services Commission of Jamaica issued this guidance to ensure the orderly migration of pension business when an Administrator or Investment Manager discontinues operations. The document mandates that exiting entities submit a comprehensive transfer plan containing specific details such as affected plan lists, acquiring provider information, timelines, and customer notification strategies. These requirements aim to minimize service interruptions, maintain regulatory oversight, and ensure trustees are adequately informed to secure alternative service arrangements.

The Financial Services Commission of Jamaica issued these guidelines to clarify the implementation of the Securities (Prudential) Regulations, 2014, specifically regarding capital adequacy, leverage, liquidity, and stress testing. The document mandates that licensees maintain a minimum capital adequacy ratio of 10% and a leverage ratio of 6%, while requiring robust liquidity management strategies and comprehensive stress testing frameworks. These measures aim to strengthen prudential supervision by defining specific computation methods for risk-weighted assets and establishing expectations for board oversight and contingency planning.

The Financial Services Commission issues these guidelines to establish minimum standards for Conduct Review Committees at licensed securities dealers and investment advisers. The document mandates that committees protect investor interests by enforcing codes of conduct, managing conflicts of interest, and monitoring related party transactions. It further requires specific operational protocols, including quarterly meetings, financial literacy among members, and direct reporting to the Board of Directors.

The Financial Services Commission promulgated the Securities (Solicitation) Rules 2020 to exempt designated license holders from Section 31 of the Securities Act 2005. These rules specifically remove solicitation restrictions for holders of Trading Securities Systems Licences and Robotic and Artificial Intelligence Enabled Advisory Services Licences. Effective 11 June 2020 and updated by Government Notice No. 131 of 2021, the regulations facilitate automated trading and AI-driven advisory operations by clarifying their regulatory obligations.

The Financial Services Commission of Mauritius issued the Securities (Licensing) (Amendment) Rules 2020 to amend Rule 10A by excluding Trading Securities Systems licence holders from its scope. The amendment inserts a new paragraph that clarifies this exemption, preventing regulatory overlap for specific market participants. These rules took effect on 11 June 2020, establishing clear licensing boundaries for securities operations.

The Financial Services Commission of Trinidad and Tobago has proposed amendments to its early warning ratios to enhance the monitoring of registered insurance companies. The changes include revising the Net Investment Income Ratio to recognize accrued investment income and expanding the capital denominator for multiple ratios to include investment and capital reserves. Additionally, the maximum standard for the Test of Receivables is reduced to 25%, and the reporting template is modified to align with the Minimum Capital Test requirements.

The Financial Services Commission of Mauritius amended the licensing framework for market infrastructure providers by updating fee schedules in the First Schedule to the principal rules. The revision replaces item SEC-1.3, setting a Rs 250,000 processing fee and a minimum Rs 500,000 fixed annual fee for securities trading systems while leaving variable fees to the Commission's discretion. These updated licensing and fee requirements officially take effect on 11 June 2020.

The Financial Services Commission of Mauritius issued the Peer to Peer Lending Rules 2020 to regulate operators facilitating online lending platforms. The rules mandate licence requirements, capital thresholds, and strict borrowing and lending limits for both natural and legal persons. They further enforce comprehensive disclosure standards, due diligence procedures, segregated client funds, quarterly reporting, and a two-day cooling-off period while clarifying that platform-transacted funds do not qualify as statutory bank deposits.

The Financial Services Commission amended the Consolidated Licensing and Fees Rules 2008 to establish dedicated licensing categories for Single and Multiple Family Offices. The amendment specifies a USD 2,500 processing fee and USD 5,000 fixed annual fee for Single Family Offices, alongside a USD 5,000 processing fee and USD 10,000 fixed annual fee for Multiple Family Offices. These updated licensing provisions and fee structures officially take effect on 7 March 2020.

The Financial Services Commission issued these rules to revoke the 2017 exemption framework governing controllers and beneficial owners. This revocation reinstates standard approval requirements under the Financial Services Act for entities previously exempted from controller and beneficial owner assessments. Deemed effective from 9 July 2020, the rules formally took effect upon their promulgation on 22 October 2020.

The Financial Services Commission of Mauritius issued these rules to establish a comprehensive licensing framework for Family Office (Single and Multiple) entities operating within the jurisdiction. Licensees must maintain minimum capital of USD 35,000 to 70,000, manage at least USD 5 million in aggregate assets, and restrict their client base to defined family members and related wealth structures. The regulations further mandate the appointment of approved officers and money laundering reporting personnel, alongside requirements for professional indemnity insurance, integrated risk management, and annual compliance reporting.

The Financial Services Commission of Mauritius issued these amendment rules to modify the 2019 Global Business Corporations framework. The amendments specifically expand Rule 3 to include applicants for an Investment Banking Licence under section 79A of the Financial Services Act. These rules were formally made and deemed effective as of 11 June 2020.

The Financial Services Commission issued guidelines establishing a regulatory framework for the recognition and oversight of credit rating agencies to preserve financial market integrity. The document mandates an initial assessment of organizational structure, independence, and resources, followed by periodic reviews focusing on rating quality, conflict management, and transparency. It further requires agencies to disclose detailed methodologies, fee structures, and historical performance data while adhering to strict confidentiality and ethical standards.

The Financial Services Commission has issued draft guidelines requiring insurance companies to submit annual business plans that demonstrate realistic risk assessment and adequate capital. These plans must comprehensively cover executive summaries, marketing strategies, management structures, operational controls, and critical risk analyses including stress test results. Additionally, the document mandates detailed financial projections, capital adequacy discussions, and ongoing monitoring mechanisms to ensure regulatory solvency and strategic alignment.

The Financial Services Commission amended the administrative penalty framework by inserting a new schedule item that mandates a daily fine of Rs 300 (US$10) for each business day of non-compliance when filing Risk Management Framework documentation. This requirement applies to obligations established under the Insurance (Risk Management) Rules 2016 and the Insurance Act 2005. The amended rules commenced operation on 24 October 2020.

The Financial Services Commission of Mauritius issued these amendment rules to update the 2016 Investment Banking Rules by introducing new shareholder and Chief Executive Officer qualifications. License holders must now ensure that majority shareholders are regulated in Mauritius or an equivalent jurisdiction for at least five years, while the CEO requires a minimum of fifteen years relevant experience. Entities licensed before March 2019 that do not initially meet these criteria must submit a compliance plan to the Commission for approval within a specified timeframe.

The Financial Services Commission of Jamaica mandates that all insurance companies establish a Board-approved Reinsurance Risk Management Plan to mitigate operational, legal, and counterparty risks. The guidelines require rigorous due diligence on reinsurers, clear contractual terms ensuring genuine risk transfer, and specific insolvency protections to safeguard policyholders. Insurers must annually file detailed reports on their reinsurance arrangements and obtain senior officer declarations confirming compliance with these regulatory standards.

The Financial Services Commission issued these rules to amend the Insurance (Risk Management) Rules 2016 by replacing specific numerical references with the figure “6” in Rules 3 and 5. The updated provisions take effect on 24 October 2020 under the authority of the Insurance Act and Financial Services Act. These targeted adjustments ensure consistent regulatory thresholds without altering substantive risk management obligations.

The Financial Services Commission of Jamaica issued guidelines establishing fit and proper criteria for auditors and actuaries appointed under the Insurance Act, 2001. The document mandates that these professionals must be qualified, independent, and in good standing with recognized associations, while requiring specific experience levels and adherence to conflict of interest rules. It further outlines sanctions for misconduct and proposes legislative amendments to grant the Commission direct authority to regulate and approve these appointments.

The Financial Services Commission issued guidelines to clarify which individuals in insurance entities must register as sales representatives under the Insurance Act. The document defines a sales representative as anyone soliciting or negotiating insurance business and provides specific scenarios distinguishing registrable roles from exempt customer service or marketing functions. Enforcement actions for unregistered sales are mandated for flagrant breaches, though leniency is granted if registration applications were submitted more than six weeks prior to an examination.

The Financial Services Commission issued the 2026 Revocation Rules to formally repeal the Financial Services (Family Office) Rules 2020. Made on 21 May 2026, the revocation eliminates the prior regulatory framework for family offices and takes effect on 1 June 2026. This repeal streamlines compliance by removing the outdated principal rules under the Financial Services Act.

The Financial Services Commission issued the Securities (Licensing) (Amendment No. 2) Rules 2020 to amend the First Schedule of the principal licensing framework. These amendments modify the definitions of Relevant Qualification and Relevant field by granting the Commission discretion to recognize alternative qualifications and fields beyond those explicitly listed. The revised licensing criteria take effect on 3 September 2020 under the Financial Services Act 2007 and Securities Act 2005.

The Financial Services Commission of Mauritius issued the 2020 Amendment No. 4 Rules to update licensing requirements by replacing the Third Schedule of the principal 2008 regulations. The amended schedule introduces a comprehensive Personal Questionnaire mandating applicants and respondents to disclose detailed personal, academic, professional, and career history data alongside fitness declarations regarding convictions, bankruptcies, litigation, and politically exposed person status. Effective 1 November 2020, the rules empower the Commission to conduct background checks using the submitted questionnaire and impose criminal penalties for misleading information, thereby standardizing licensing applications.

The Financial Services Commission issued these rules to formally classify Peer-to-Peer Lending as a distinct financial service activity. The amendment adds a new schedule item specifying application and annual license fees of Rs 30,000 (USD 1,000) and Rs 60,000 (USD 2,000), plus a regulatory charge of 0.35 percent on gross peer-to-peer lending revenues. These licensing and fee structures commence on 15 August 2020, establishing clear financial obligations for new and existing providers in this sector.

The Financial Services Commission issued these amendment rules to modify the administrative penalty schedule for investment banking compliance. The changes insert a new schedule item establishing a fixed penalty of Rs 300 (US$10) per business day for failing to file annual reports as mandated by the 2016 Investment Banking Rules. The amended provisions commenced operation on 3 September 2020.

The Financial Services Commission of Jamaica issued these guidelines to regulate the issuance, registration, and operation of Jamaica Depositary Receipts (JDRs) within the jurisdiction. The document establishes strict eligibility criteria for JDR issuers, foreign securities, and custodians while defining their respective operational duties and disclosure obligations. It further details the specific registration requirements and procedural distinctions between unsponsored and sponsored JDR programmes to ensure market integrity and investor protection.

The Financial Services Commission of Jamaica issued these guidelines to define the requirements for securities distributions exempt from prospectus registration under the Securities Act. The document establishes specific exemptions for accredited investors, minimum purchase amounts, highly-rated debt, and private issuers, while mandating pre-notification via Form XD F-1 and post-trade reporting via Form XD F-2. It further regulates marketing activities, imposes resale restrictions including a six-month holding period, and requires compliance with the Companies Act for all exempt distributions.

The Minister of the British Virgin Islands issued this Order to formally apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral agreement with the Netherlands Antilles for exchanging tax information. The agreement requires competent authorities to share foreseeably relevant data regarding income, payroll, and property taxes from financial institutions and legal entities, while permitting on-site examinations abroad and enforcing strict confidentiality. It establishes procedural timelines for processing requests, defines statutory grounds for declining assistance, and enters into force upon mutual notification of domestic compliance to enhance international tax transparency.

The Commission for Financial Supervision issued Ordinance No. 67 to establish the electronic procedures for registering insurance brokers, agents, and intermediaries offering insurance products as an additional activity. The regulation mandates the use of an Online Portal for most registrations and specific email-based forms for brokers and cross-border EU intermediaries, requiring insurers to verify compliance before submission. It also amends Ordinance No. 15 to update registry requirements and defines administrative penalties for non-compliance with these electronic registration obligations.

The Commission for Financial Supervision issued Regulation No. 66 to establish additional requirements for classifying investment insurance products as non-complex under Article 342(5) of the Insurance Code. The regulation mandates that insurers and intermediaries assess contracts against specific criteria regarding financial instrument complexity, surrender options, value determination mechanisms, costs, and beneficiary clauses to ensure risks are understandable to consumers. It further defines administrative penalties for violations and provides precise definitions for terms such as voluntary bonuses and standard versus non-standard beneficiary clauses.

The Commission for Financial Supervision issued Ordinance No. 65 to establish uniform requirements for persons receiving market surveys under EU Regulation 596/2014. The ordinance mandates that these persons implement internal procedures, conduct training, and independently assess whether received information constitutes inside information. It further requires the maintenance of detailed registers of procedures, notifications, and assessments for a minimum period of five years.

The Financial Services Commission issued these rules to amend the 2008 Consolidated Licensing and Fees framework by updating specific licensing thresholds and completely replacing the First and Second Schedules. The revised schedules establish comprehensive processing, fixed annual, and variable annual fees for a broad range of financial service providers, corporate trust services, securities intermediaries, insurers, and pension schemes. These updated fee structures take effect on 1 July 2019 and apply to both local entities and Global Business Licence holders, with USD-denominated fees specified for international applicants.

The Financial Services Commission amended the licensing fee schedule under the Financial Services Act 2007 to introduce standardized fees for Investment Dealers, Representatives, and Foreign Investment Dealers engaged in derivatives trading. The rules update the First Schedule by inserting specific fee tiers for derivatives market participants and removing the "trading on SEM" designation from foreign dealer classifications. These regulatory amendments officially take effect on 16 November 2019 to streamline licensing charges across capital markets intermediaries.

The Financial Services Commission of Mauritius issued these rules to amend the 2011 brokerage fee framework for government and bank securities. The amendment systematically replaces all references to "CDS" with "Clearing and Settlement Facility" throughout the principal regulations. These updated provisions formally take effect on 16 November 2019.

The Financial Services Commission of Mauritius has issued these rules to establish a licensing and regulatory framework for entities providing custody services for digital assets. Licensees must maintain a local office and senior representative, meet minimum capital thresholds, and implement robust governance, risk management, and operational continuity protocols. The regulations mandate stringent technical standards for digital asset safekeeping, including quarterly system testing, external audits, strict key and seed generation procedures using air-gap machines or hardware security modules, and secure multi-location storage.

The Financial Services Commission of Mauritius issued the 2019 rules to exempt designated resident corporations from mandatory Global Business Licence applications. The regulations carve out pre-2019 entities, post-2018 corporations backed by development institutions or sovereign funds, and locally established trusts and foundations, while mandating a $500 USD processing fee for approval applications. The Commission retains discretion to process licence applications from these exempt categories, and the rules formally classify Global Business Licence holders, Authorised Companies, and pre-October 2017 licence recipients as specified persons under the Financial Services Act.

The Financial Services Commission amended its consolidated licensing regulations to establish a dedicated fee schedule for digital asset custodian services. By adding item FS-1.14 to the First Schedule, the rules mandate a Rs. 175,000 processing fee and a Rs. 350,000 fixed annual fee for this specific activity. The amendments are deemed to come into operation on 1 March 2019, formally integrating digital asset operations into the existing regulatory framework.

The Financial Services Commission issued the Securities (Licensing) (Amendment) Rules 2019 to update licensing categories and qualification requirements for securities dealers in Mauritius. The amendments introduce a new Investment Dealer (Derivatives) classification, define market-maker for futures contracts, and establish specific diploma and five-year experience prerequisites alongside updated schedule fees. These rules also grant exemptions from certain licensing provisions for dealers operating in Government of Mauritius and Bank of Mauritius securities segments, taking effect on 16 November 2019.

The Financial Services Commission has amended the 2013 brokerage fee rules for exchange traded funds on foreign underlyings by systematically replacing CDS with Clearing and Settlement Facility. This terminology update aligns the principal rules with current market infrastructure standards. The amended regulations come into force on 16 November 2019, ensuring consistent fee calculations across the securities market.

The Financial Services Commission issued these rules to amend the Securities (Authorisation of Foreign Investment Dealers) Rules 2010 by deleting rule 10. Made under sections 93 and 155 of the Financial Services Act 2007 and Securities Act 2005, the amendment streamlines the regulatory framework for foreign investment dealers. The rules were formally enacted on 18 October 2019 and take effect on 16 November 2019.

The Financial Services Commission issued these amendment rules to update the governance framework for private pension schemes under the Private Pension Schemes Act 2012. The amendments revise the definition of governing body to explicitly include a board of directors for protected cell companies and formally define that corporate structure. These rules take effect on 16 November 2019, ensuring updated regulatory compliance for pension scheme operators.

The Financial Services Commission issued these rules to explicitly classify protected cell companies as eligible bodies of persons under the Private Pension Schemes Act 2012. The regulations incorporate these entities into existing pension frameworks, subject to the restrictions outlined in the Protected Cell Companies Act 1999. The instrument was executed on 18 October 2019 and commenced operations on 16 November 2019.

The Financial Services Commission of Mauritius amended the Securities (Brokerage Fees for Debentures) Rules 2013 by replacing “CDS” and “SEM” with “Clearing and Settlement Facility” and “securities exchange”. These terminology updates align debenture brokerage fee calculations with current market infrastructure. The amended rules take effect on 16 November 2019.

The Commission for Financial Supervision issued Ordinance No. 64 to establish the professional qualifications, integrity standards, and appointment procedures for external auditors, independent experts, and actuaries overseeing supplementary pension funds. The regulation mandates that these appointed persons meet strict experience and clean-record criteria, and are selected through a competitive bidding process based on lowest price and professional experience. It further details the maintenance of official registers, grounds for exclusion from these lists, and the specific administrative measures for appointing personnel to enforce compliance with the Social Security Code.

The Commission for Financial Supervision issued Ordinance No. 63 to establish the content, frequency, and submission deadlines for supervisory reports of pension insurance companies and their managed funds. The regulation mandates monthly, quarterly, and annual reporting via a secure electronic portal using specific standardized forms for various fund types. Recent amendments update these requirements to align with EU regulations for PEPP funds and replace the Bulgarian lev with the euro upon its introduction in Bulgaria.

The Commission for Financial Supervision issued Ordinance No. 62 to establish the mandatory procedures for pension insurance companies regarding the storage, use, and destruction of documents and data related to supplementary pension insurance. The regulation mandates specific minimum retention periods for various document types, strict physical and environmental standards for storage facilities, and controlled access protocols to ensure data integrity and confidentiality. It further regulates the destruction process through expert commission review and allows for the outsourcing of storage activities under strict liability and oversight requirements.

The Cabinet of the Virgin Islands issued these regulations to amend the Segregated Portfolio Companies (BVI Business Company) Regulations, 2018, pursuant to the BVI Business Companies Act, 2004. The amendments modify Regulation 6 to simplify the statutory language regarding the incorporation of BVI business companies as Segregated Portfolio Companies. Additionally, the Schedule is updated to replace existing fee structures with new prescribed amounts for application, approval, and annual fees related to segregated portfolio companies.

The Cabinet of the Virgin Islands issued this Order to amend Schedule 1 of the Micro Business Companies Act, 2017. The amendment replaces the number "140" with "100" in column 3 of Part I for sections 5(1) and 113(2). This change was made on the advice of the Financial Services Commission pursuant to section 124(1) of the Act.

The Minister of Finance of the Virgin Islands issued a statutory instrument under the Micro Business Companies Act, 2017 to appoint the effective date for the legislation. This notice formally declares that the Act shall come into force on the 4th day of June, 2018. The appointment was made by Dr. D. Orlando Smith on May 25, 2018, pursuant to the powers vested in the Minister by section 1(2) of the Act.

The Commission for Financial Supervision issued Ordinance No. 59 to define the specific functions and duties of risk management, internal control, and internal audit units within pension insurance companies. The regulation mandates that these units establish risk identification and measurement methodologies, conduct regular internal audits, and ensure compliance with legal requirements while protecting the interests of insured persons and pensioners. It further requires these entities to report significant risks and violations to the management board and the Commission, ensuring independent oversight and adherence to international auditing standards.

The Legislature of the Virgin Islands enacted this Act to establish a simplified corporate framework for micro business companies limited by shares. The legislation defines strict operational constraints, including prohibitions on financial services activities and caps on annual turnover and gross assets. It further regulates the incorporation process, the exclusive management role of the principal shareholder, and the procedures for liquidation, dissolution, and restoration.

The Financial Services Commission of Mauritius issued this communiqué to amend Sections 4, 5, and 71(6) of the Financial Services Act 2007, granting Category 1 Global Business Companies greater flexibility to conduct business locally. The updated Guide to Global Business clarifies the criteria for determining local conduct and mandates adherence to FSC-issued guidelines. The regulator will enforce compliance through targeted actions against license holders that fail to meet these updated requirements.

The Financial Supervision Commission issued Decree No. 58 to mandate strict safeguarding of client assets, enforce product governance standards for financial instruments, and regulate the provision of inducements. The regulation requires investment intermediaries to maintain segregated accounts, conduct rigorous due diligence on custodians, and implement robust internal controls to prevent conflicts of interest and asset misuse. It further establishes detailed procedures for product creation, distribution, and the management of financial collateral agreements to ensure market stability and client protection.

The Cabinet of the Virgin Islands issued these regulations under the Limited Partnership Act, 2017 to establish detailed rules for limited partnership registration and operation. The document mandates specific requirements for partnership names, including restrictions on restricted words and procedures for registering foreign character names. It further defines eligibility criteria for liquidators, outlines the contents of the Register of Registered Charges and certificates of good standing, and imposes customer due diligence obligations on legal practitioners filing changes to registered agents.

The Cabinet of the Virgin Islands issued these regulations to establish the legal framework for incorporating and operating BVI insurer Segregated Portfolio Companies under the BVI Business Companies Act. The rules mandate strict application procedures, solvency margin requirements, and the appointment of insurance managers while governing the creation, termination, and reinstatement of segregated portfolios. Additionally, the regulations define administrative penalties for non-compliance and prescribe a detailed schedule of fees payable to the Financial Services Commission.

The Cabinet of the Virgin Islands issued these regulations to establish the legal framework for incorporating and operating BVI business companies with segregated portfolios under the BVI Business Companies Act, 2004. The rules mandate specific application procedures, solvency declarations, and reporting obligations to the Financial Services Commission for creating, managing, terminating, or reinstating segregated portfolios. Additionally, the regulations define permissible uses for such portfolios, financial statement requirements, and a schedule of associated fees and administrative penalties for non-compliance.

The British Virgin Islands Minister for Finance issued this Order to implement an automatic exchange of financial account information agreement between the British Virgin Islands and the United Kingdom. The Order applies Part 1 of the 2003 Mutual Legal Assistance Act to mandate British Virgin Islands financial institutions to identify United Kingdom reportable accounts, conduct due diligence under the OECD Common Reporting Standard, and annually transmit account balances, income data, and taxpayer details to UK authorities. It establishes strict confidentiality and data protection safeguards, outlines procedures for compliance monitoring and error correction, and defines the conditions for suspending or terminating the agreement.

The Commission for Financial Supervision issued Ordinance No. 57 to establish the mandatory format, content, and submission procedures for annual reports on occupational pension schemes managed by foreign insurers in Bulgaria. The regulation requires pension insurance companies to provide detailed financial data, including accumulated assets, contributions, and fees, in a written and electronically signed format. Recent amendments mandate that all monetary values be reported in euros and specify strict timelines for submitting monthly management data to the supervisory authority.

The Financial Supervision Commission issued Ordinance No. 56 to mandate the minimum content of investment policies for additional mandatory and voluntary pension funds in Bulgaria. The regulation requires these policies to explicitly define governance structures, liquidity needs, ESG factor integration, and specific asset allocation strategies including sub-funds under Article 214a of the Social Security Code. It further stipulates detailed requirements for risk identification, hedging procedures, and periodic review mechanisms to ensure robust investment management.

The Financial Services Commission issued the Captive Insurance (Pure Captive Insurance Business) (Amendment) Rules 2018 to amend the principal 2016 rules by introducing new substance requirements for captive insurers. Under the newly inserted Rule 23A, captive insurers must maintain an adequate number of suitably qualified personnel and incur minimum expenditure proportionate to their core income-generating activities at all times. These amendment rules came into operation on 1 October 2018, directly modifying the regulatory framework governing pure captive insurance business.

The Financial Services Commission of Mauritius issued these rules to amend the 2008 Consolidated Licensing and Fees framework by introducing updated definitions for Category 1 and Category 2 Global Business Licences. The amendments standardize terminology across key provisions and schedules by replacing "GBC 1" with "GBC / GBC 1" and expanding licence references to include Global Business Licences. A tiered variable annual fee schedule for registered agents managing authorised companies is established, with fees ranging from 2,000 to 5,000 USD based on company count, and the rules take effect on 1 January 2019.

The Financial Services Commission amended Mauritius licensing regulations by introducing standardized application forms, fixed processing fees, and a streamlined approval process for Authorised Companies. The Chief Executive may approve applications within seven days upon verifying legal compliance, business plans, and public interest considerations, while the Board retains referral authority. The rules also establish advance annual fees, tiered late payment charges, a twelve-month lapse threshold with reinstatement provisions, and an effective date of 1 October 2018.

The Financial Services Commission of Mauritius has issued updated Practice Notes mandating that Qualified Trustees and Management Companies maintain accurate, up-to-date registers of beneficial ownership information for all trusts under their administration. These entities must conduct robust customer due diligence to identify and verify natural persons exercising ultimate control, including settlors, trustees, beneficiaries, and protectors, while retaining all related records for a minimum of seven years. The notes align domestic obligations with FATF transparency standards, requiring trustees to keep beneficial ownership data readily accessible for regulatory inspection and apply risk-based measures to mitigate money laundering and terrorist financing risks.

The Financial Services Commission of Mauritius issued Amendment No. 2 to its Consolidated Licensing and Fees Rules, which amends the First Schedule by deleting two specific tables for investment dealers trading on the GBOT. This regulatory update streamlines licensing classifications by removing redundant listings for both domestic and foreign dealers operating on the exchange. Published as Government Notice 165 of 2018, the amended rules formally took effect upon gazettal on 1 December 2018.

The Financial Services Commission of Mauritius issued these amendment rules to modify the administrative penalty framework for licensed entities. The regulations amend Rule 3 of the principal 2013 rules by adding a new paragraph that caps penalties for specified violations committed after 31 December 2017 at 150,000 rupees (USD 5,000). Deemed effective from 1 January 2018, the amendments establish a clear monetary ceiling for regulatory enforcement actions against licensees.

The Financial Services Commission of Mauritius issued the Financial Services (Authorised Company) Rules 2018 to regulate entities authorized under Section 71A of the Financial Services Act. These rules prohibit Authorised Companies from conducting activities specified in the Fourth Schedule or deemed detrimental to Mauritius’s financial reputation and public interest. The regulations define eligible categories of persons, including Global Business Licence holders and existing Category 1 or 2 licence holders, and take effect on 1 October 2018.

Her Majesty in Council issued this Statutory Instrument to apply section 33 of the Copyright Act 1956 to specific international organisations. The Order declares that the United Nations Organisation, its Specialised Agencies, the Organisation of American States, the Council of Europe, and the Organisation for European Economic Cooperation are entitled to copyright protection. This legal mechanism ensures that original literary, dramatic, musical, or artistic works made or published by these bodies enjoy copyright subsistence in the UK.

Her Majesty in Council issued this Order to extend Part 1 of the Terrorist Asset-Freezing etc. Act 2010 to specified British Overseas Territories. The legislation modifies the Act to empower local Governors to designate persons and freeze assets, replacing the previous framework under the Terrorism (United Nations Measures) (Overseas Territories) Order 2001. These changes ensure the Territories have robust legal mechanisms to combat terrorism financing while adapting judicial and procedural references to local jurisdictions.

The Bulgarian Council of Ministers issued this Decree to establish procedures for information exchange and cooperation between the Commission for Financial Supervision and the Executive Agency "General State Labour Inspectorate" to protect employees who reported market abuse. It mandates that if an employee files a complaint regarding disciplinary dismissal linked to such a report, the authorities must verify the claim and can temporarily suspend the disciplinary proceedings for up to 14 days. The regulation ensures data confidentiality and defines strict timelines for inter-agency communication and investigation of alleged retaliatory dismissals.

The Legislature of the Virgin Islands enacted this Act to amend the Drug Trafficking Offences Act, 1992, by expanding the definitions of drug trafficking and introducing new confiscation powers. The legislation establishes procedures for postponed determinations, allows courts to issue confiscation orders against defendants who have died or absconded, and permits the reconsideration of cases where new evidence of benefit from drug trafficking emerges. Furthermore, the Act lowers the standard of proof for confiscation matters to the civil standard and mandates that courts draw inferences from a defendant's failure to provide required information.

Her Majesty in Council issued this Order to amend the Terrorist Asset-Freezing etc. Act 2010 (Overseas Territories) Order 2011 by expanding the definition of designated persons to include those designated by the UK Treasury or the European Council. The Order mandates that Governors of specified Overseas Territories must consult the Secretary of State before making, renewing, or revoking designations, and consult the Treasury for certain licence decisions. It also introduces provisions for licences granted outside the Territory, updates penalty amounts, and adjusts jurisdictional rules for criminal proceedings.

The Financial Services Commission promulgated these 2017 rules to exempt the issue or transfer of non-voting shares from the statutory approval requirement for controllers and beneficial owners. Under section 23(1) of the Financial Services Act, licensees must normally obtain Commission approval for share transfers, but this exemption removes that mandate specifically for shares carrying no voting rights. Enacted on 19 January 2017 under sections 23(4) and 93 of the Act, the rules streamline regulatory compliance by clarifying that non-voting share interests are excluded from the approval process.

The Financial Services Commission issued these rules to amend the licensing and fee schedule for insurance and reinsurance businesses operating as protected cell companies. The amendments insert specific initial and annual fee structures in United States dollars for long-term, general, external insurance, and professional reinsurance categories. These updated fee requirements take effect on 1 July 2017 under the authority of section 93 of the Financial Services Act.

The Financial Services Commission of Mauritius issued the Securities (Preferential Offer) Rules 2017 to regulate private placements and offers made exclusively to sophisticated or related investors. Issuers must secure shareholder approval, ensure fair pricing, complete allotments within twelve months, and submit comprehensive offer documents to the Commission within ten days of execution. The Rules establish minimum subscription thresholds, mandate director certifications for debt securities registration, and require retrospective reporting for historical issuances to ensure market transparency.

The Financial Services Commission of Mauritius requires licensed insurers to implement minimum standards for marketing, selling, and issuing insurance policies in digital format. Insurers must ensure online transactions feature authenticated electronic signatures, secure data confidentiality, clear product disclosures, and robust audit trails for record retention. Non-compliance exposes insurers to regulatory sanctions as the guidelines take effect on 1 July 2017.

Issued by the Chairman of the Commission on Financial Supervision, the Minister of Internal Affairs, and the Minister of Transport, this Decree establishes the technical and operational requirements for the electronic registers of the Guarantee Fund for Information Exchange and Protection. It mandates the real-time collection, storage, and exchange of data regarding motor vehicles and mandatory insurance policies between insurers, the Guarantee Fund, and the Ministry of Internal Affairs. The regulation ensures interoperability of information systems, defines data fields for vehicle and policy registries, and governs the automated verification of insurance contracts and bonus-malus classifications.

The Commission for Financial Supervision issues Ordinance No. 53 to establish detailed requirements for the accounting, asset and liability valuation, and technical reserve formation of insurers, reinsurers, and the Guarantee Fund in Bulgaria. The regulation mandates strict data quality standards, including completeness, suitability, and validation processes, to ensure accurate calculation of reserves for solvency supervision and mandatory accounting. It further specifies the electronic submission formats, digital signature requirements, and adherence to European Supervisory Authorities' guidelines for regulatory reporting.

Issued by the UK Parliament and enforced by the Treasury, this Act establishes a statutory framework for freezing the funds and economic resources of persons designated as involved in terrorism. The Treasury may issue final or interim designations, notify affected parties, and prohibit the dealing with or provision of funds and financial services to those individuals or entities. The legislation outlines renewal and revocation procedures, grants licensing powers to authorize specific transactions, provides exceptions for frozen bank accounts, and creates criminal offences for contraventions.

The Financial Services Commission of Mauritius issued this guide to establish the Online Submissions Platform for electronic Global Business Licence applications and fee payments. Management Companies are required to submit complete, certified documentation and process fees via Electronic Payment Instructions, as incomplete or unanswered applications will be automatically withdrawn after two months. By integrating with the Corporate and Business Registration Department, the system pre-populates applicant data, reduces paper duplication, and accelerates licence issuance for both financial and non-financial entities.

The Cabinet of the British Virgin Islands issued this Order to define the statutory functions and operational procedures of the Board governing the BVI International Arbitration Centre. The Order mandates the Board to provide strategic direction, appoint the Chief Executive Officer and Deputy Chairman, approve budgets and accounts, establish committees, and advise Cabinet on legislative amendments to the UNCITRAL Model Law. It further establishes procedural rules guaranteeing Board independence, requiring quarterly meetings with a three-member quorum, majority voting with casting vote provisions, and flexible meeting formats including video conferencing.

The Commission for Financial Supervision issued Ordinance No. 52 to establish the procedures and methods for pension insurance companies to deduct investment and payment fees from managed funds. The regulation defines specific daily and monthly calculation formulas for fees based on net asset values and investment returns, with payments due by the fifth working day of the following month. Recent amendments clarify the scope of applicable funds and adjust fee structures for additional mandatory and voluntary pension schemes.

Enacted by the Legislature of the Virgin Islands, this Act establishes the Virgin Islands Deposit Insurance Corporation and its associated Deposit Insurance Fund to provide limited compensation to insured depositors and promote financial system stability. The legislation mandates the Corporation to levy annual premiums and special contributions from member financial institutions, authorizes it to provide financial assistance and act as receiver or liquidator for failing institutions, and sets borrowing limits tied to insured deposit volumes. It further defines insurable deposit criteria, outlines resolution and bridge bank mechanisms for distressed banks, creates a Deposit Insurance Appeal Board, and imposes compliance, reporting, and penalty obligations on member institutions and their officers.

The Minister for Finance of the British Virgin Islands issued this Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral agreement with the Isle of Man. The agreement mandates the reciprocal exchange of foreseeably relevant information concerning income, payroll, and property taxes, establishing detailed procedures for requested, automatic, and spontaneous disclosures. It defines competent authorities, outlines confidentiality and cost-sharing rules, and sets the entry into force date for most matters as January 1, 2016.

The Commission for Financial Supervision issued Ordinance No. 51 to establish the qualitative and quantitative requirements for determining the own funds and solvency capital requirements of insurers and reinsurers in Bulgaria. The regulation implements the Solvency II framework by defining the classification of own funds into three tiers, setting eligibility limits, and detailing the supervisory approval procedures for capital instruments and distributions. It further outlines the specific oversight mechanisms for insurance groups and third-country entities operating through branches in Bulgaria.

The British Virgin Islands Minister of Finance enacted this 2016 Order to amend Schedule 1 of the Mutual Legal Assistance (Tax Matters) Order, 2013. The amendment modifies the bilateral agreement with Guernsey by replacing paragraph 1 of Article 11 and paragraph 2 of Article 14. These changes guarantee that Contracting Parties will not apply prejudicial tax measures while the information exchange agreement remains effective and authorize competent authorities to mutually agree on procedures for Articles 5, 5A, 5B, 6, and 10.

The Legislature of the Virgin Islands enacted this amendment to revise the Legal Profession Act, 2015 by updating practitioner qualification criteria, admission procedures, and temporary practice certificate requirements for non-resident legal practitioners. The legislation transfers regulatory consultation and regulation-making powers from the Council to the Cabinet, adjusts practising certificate validity periods, and clarifies the statutory definition of legal documents. It further establishes updated fee structures, modifies the Attorney General’s appointment and revocation powers for tribunal members, and sets transitional deadlines to ensure continuous compliance for existing legal practitioners.

The Legislature of the Virgin Islands enacted this Act to amend the Legal Profession Act, 2015 by validating practising certificates for specified periods, empowering the Council to issue Cabinet-approved guidelines on legal documents, and subjecting regulations to a negative House resolution. The inserted transitional provisions automatically extend practising certificates for existing barristers, solicitors, and attorneys until January 2017 or the issuance of targeted regulations, while establishing $1,000 and $1,500 fee tiers for residents and non-residents respectively. These measures maintain continuous legal practice and regulatory oversight during the statutory transition, deferring specific operational sections until their corresponding regulations and guidelines are formally promulgated.

The Financial Services Commission amended the First Schedule of its 2008 Consolidated Licensing and Fees Regulations to introduce two new fee categories for overseas family offices. The amendment distinguishes between single and multiple family structures, establishing specific licensing fees in both Mauritian Rupees and US Dollars. Tiered pricing applies to multiple family offices, charging a base rate for the first family and reduced fees for each additional family.

The Financial Services Commission of Mauritius has issued amended Competency Standards effective 1 January 2016, which eliminate the mandatory appointment of a Designated Officer for Collective Investment Scheme Managers. The consolidated framework establishes minimum technical competencies, structured continuous professional development hours, and record-keeping obligations for licensees across the insurance and securities sectors. Compliance with these updated standards remains mandatory, with non-compliance subject to regulatory directions and administrative sanctions under the Financial Services Act 2007.

The Financial Services Commission of Mauritius issued these Explanatory Notes to clarify the application and standards of its 2015 Guidelines for Promoters advertising non-banking financial products. The Notes mandate fair, transparent disclosures using plain language, requiring clear communication of licensing status, risks, costs, terms and conditions, and performance data across all advertising mediums. While excluding certain intermediaries and allowing relaxed disclosure for sophisticated investors, the document maintains that Promoters retain full responsibility for content accuracy and must file public-facing presentations with the regulator.

The Financial Services Commission of Mauritius has issued guidelines regulating the advertising and marketing of non-banking financial products to protect consumers and uphold professional standards. The regulations require promoters to ensure all promotional materials are fair, clear, complete, and accurately balance benefits with risks, while mandating pre-submission of advertisements at least seven business days before public dissemination. Furthermore, the guidelines establish specific conduct standards for internet and direct marketing communications, enforce strict disclosure of fees, costs, and performance data, and empower the Commission to impose regulatory sanctions on non-compliant promoters.

The Financial Services Commission issued these 2016 rules to amend Mauritius' captive insurance licensing framework by updating the First Schedule of the principal 2008 regulations. The amendment establishes a standardized classification table that assigns specific licence codes (CI-1.1 and CI-2.1), mandates a US$2,000 processing fee for pure captive businesses, and sets fixed annual fees of up to US$1,500 for captive insurance agents. These revised fee structures and code classifications take immediate effect upon gazette publication to standardize regulatory compliance for market participants.

The Financial Services Commission has amended the 2008 Consolidated Licensing and Fees Rules by inserting a new licensing category for Funeral Scheme Management into the First Schedule. This change establishes specific fee requirements of Rs 25,000 and Rs 50,000 for the newly classified activity. The updated regulations officially commence on 1 October 2016, directly applying to all relevant financial service providers.

The Financial Services Commission enacted these rules to amend the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 by removing a specific disclosure requirement. The amendment deletes the Schedule item that previously mandated reporting issuers to list the name and address of every associate of a senior officer. These rules came into operation on 25 April 2016, thereby simplifying ongoing reporting obligations for issuers.

The Financial Services Commission of Mauritius issued these Rules to regulate holders of an Investment Banking Licence by mandating specific corporate governance, capital, and operational standards. Licensees must maintain a minimum stated unimpaired capital of 50 million rupees, ensure their boards comprise at least five directors with forty percent independence, and appoint a Chief Executive Officer with fifteen years of relevant experience. The Rules further require documented internal controls, targeted insurance policies, and the submission of audited annual reports prepared under IFRS within ninety days of the balance sheet date.

The Financial Services Commission of Mauritius issued these rules to amend the licensing and fee structure for financial service providers under the Financial Services Act 2007. The amendments update the First Schedule by introducing specific processing and fixed annual fees in both Mauritian Rupees and US dollars for new and existing license categories, including global legal advisory services, investment banking, and corporate finance advisory. These revised fee schedules apply to designated financial service providers and activities, taking effect upon publication in the Government Gazette on 24 September 2016.

The Financial Services Commission issued the Securities (Licensing) (Amendment) Rules 2016 to establish a new Investment Adviser (Corporate Finance Advisory) licence category. The amendment mandates that only corporations may apply for this licence and requires holders to possess a relevant degree plus at least five years of investment business experience. It further sets the applicable fee and authorizes licence holders to deliver corporate finance advisory services through printed materials or other channels.

The Financial Services Commission of Mauritius issued these rules to regulate funeral scheme management businesses by mandating licensing, minimum capital reserves, and the strict segregation of client funds. Licensed managers must maintain asset-liability adequacy, secure professional indemnity insurance covering at least two million rupees, and submit regular actuarial solvency audits alongside annual business statements. Existing operators must obtain licences within six months of the rules' commencement, while all managers are required to keep investments in Mauritius and implement transparent complaints handling procedures for contract holders.

The Financial Services Commission mandates insurers to establish and maintain a comprehensive Risk Management Framework that integrates risk appetite statements, management strategies, business plans, own risk and solvency assessments, and dedicated risk functions. The rules require board oversight, annual compliance reviews by auditors and actuaries, and timely reporting of corporate events and updated frameworks to the Commission. Additionally, insurers must manage group-linked risks, ensure liquidity segregation, control outsourcing arrangements, and maintain accurate risk registers to safeguard capital targets and operational resilience.

Mauritius' Financial Services Commission issued these rules to regulate pure captive insurers under the Captive Insurance Act 2015, mandating a minimum paid-up capital of three million Mauritian rupees and a 100 percent solvency ratio calculated via asset and underwriting capital. The framework further requires approved auditors and actuaries, mandates substantive operational presence with adequate personnel and expenditure, and enforces strict investment diversification alongside the timely submission of audited financial statements, actuarial reports, and solvency certificates. Compliance with these provisions is enforced through Commission oversight, which retains the authority to approve contingency plans, reject non-compliant reports, and appoint auditors or actuaries directly when necessary.

The Financial Services Commission issued these 2016 amendment rules to revise brokerage fee structures for investment dealers trading exchange traded funds (ETFs) on foreign underlyings. The rules introduce a formal definition for debt securities and establish tiered fee schedules based on transaction values, applying a Rs 75,000 threshold to determine whether fixed or percentage-based rates apply. Updated schedules precisely allocate total brokerage fees among investment dealers, securities exchanges, the Commission, and the Central Depository System, taking effect on 4 April 2016.

The Financial Services Commission issued these amendment rules to modify the brokerage fee framework for Government of Mauritius and Bank of Mauritius securities. The amendment replaces the previous exemption clause with a provision explicitly stating that the brokerage fee rules do not apply to either the State or the Bank of Mauritius. These rules took effect on 13 June 2016 following their promulgation on 9 June 2016.

The Commission issued these rules under the Captive Insurance Act and Financial Services Act to revoke the Captive Insurance (Pure Captive Business) Rules 2016. The revocation takes effect on 26 February 2024, immediately replacing the previous regulatory framework for pure captive business operations. This action eliminates outdated provisions and establishes a streamlined legal basis for ongoing captive insurance activities.

The British Virgin Islands Minister of Finance issued this Order to implement the UK-BVI International Tax Compliance Agreement, mandating financial institutions to identify reportable accounts and report account holder data. Financial institutions must apply prescribed due diligence procedures, register with the Competent Authority by April 1, and submit annual reports by May 31 for both existing and new accounts. The Order authorizes third-party agents to perform due diligence, grants the Competent Authority inspection and cross-border data retrieval powers, and enforces a six-year record retention period alongside general penalties for non-compliance.

The British Virgin Islands Minister of Finance issued this Order to amend Schedule 1 of the 2013 Mutual Legal Assistance (Tax Matters) Order. The amendment inserts Articles 5A and 5B into the bilateral tax information exchange agreement with Guernsey, establishing formal frameworks for automatic and spontaneous data transmission between competent authorities. These provisions empower the parties to define exchangeable information items and procedures, while permitting mutual agreement on additional mechanisms for tax-related disclosures.

The House of Assembly of the Virgin Islands enacted this legislation to amend the Arbitration Act (Act No. 13 of 2013) by standardizing official publication references and clarifying regulatory rule-making powers. The Act inserts the word “Gazette” into Sections 1, 87, 95, 99, and Schedule 4, while Section 2 receives a corresponding editorial addition. Section 107 is substantially revised to empower the Board with rule-making authority, define fit and proper appointment criteria, and authorize the BVI IAC to exercise those powers if the Board remains unappointed, with commencement deferred to a Governor-appointed date.

The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, promulgated these rules to establish comprehensive procedures for trade mark registration and management under the Trade Marks Act, 2013. The regulations mandate specific filing requirements, including electronic submissions and designated forms TM1 through TM25, for applications covering standard, defensive, certification, and collective marks. They further govern the examination process, opposition proceedings, renewal and restoration of registrations, revocation or invalidation grounds, registrable transactions such as licences, and the conduct of hearings before the Registrar.

The Financial Services Commission of Mauritius issued these rules to amend licensing and fee provisions under the Financial Services Act 2007, Securities Act 2005, and Insurance Act 2005. The amendments specifically modify Rule 8(4) of the principal 2008 regulations by replacing a fifteen percent requirement with one percent. These rules are deemed to have commenced operation on 2 July 2015 and were formally enacted by the Commission on 15 July 2015.

The Financial Services Commission of Mauritius issued this Code of Business Conduct to mandate nine guiding principles that require all financial services licensees to uphold sound business practices and safeguard consumer interests. The framework obligates licensees to implement risk-aligned processes, segregate client assets, manage conflicts of interest, maintain adequate financial resources, and retain inspection-ready compliance records. Effective January 1, 2016, failure to adhere to these standards exposes licensees to regulatory enforcement while enabling the Commission and industry bodies to issue supplementary guidance.

The Financial Services Commission issued the Securities (Public Offers) (Amendment) Rules 2015 to amend existing prospectus regulations under the Securities Act 2005. The new rules insert a mandatory filing fee of 100,000 rupees for any person submitting a prospectus under section 76(1). These amendments officially take effect on 1 January 2016, applying to all subsequent public offer filings.

The Financial Services Commission of Mauritius issued the Private Pension Schemes (Auditor and Actuary) Rules 2015 to standardize the appointment, qualifications, and regulatory oversight of auditors and actuaries for licensed private pension schemes. The Rules require schemes to secure Commission approval for independent professionals within 90 days of licensing or upon a predecessor's departure, while enforcing strict timelines for resignation notifications, audited financial statement submissions, and extended scope examinations. Additionally, the regulations impose comprehensive whistleblowing duties on these professionals to report financial impairments or regulatory breaches directly to the Commission, while granting them statutory protection against civil, criminal, and disciplinary proceedings for good-faith disclosures.

The Financial Services Commission of Mauritius issued the Securities (Disclosure Obligations of Reporting Issuers) (Amendment) Rules 2015 to modify existing disclosure requirements for reporting issuers. The amendment specifically deletes the phrase “the Commission and” from both the heading and paragraph (1) of Rule 16A in the principal 2007 rules. These amendments take effect on 10 October 2015, streamlining the regulatory framework without altering substantive disclosure obligations.

The Minister of the British Virgin Islands issued this Order to apply Part 1 of the 2003 Mutual Legal Assistance (Tax Matters) Act to a bilateral tax information exchange agreement with the Republic of Korea. The agreement mandates both jurisdictions’ competent authorities to exchange foreseeably relevant tax data, conduct cross-border examinations, and maintain strict confidentiality while preserving domestic legal safeguards. Covering specific income, payroll, and property taxes alongside Korea’s broader tax regime, the Order establishes standardized procedures for information requests, cost allocation, and dispute resolution effective upon final ratification.

The Commission mandates that Global Business Category 1 corporations demonstrate substantial management and control within Mauritius to maintain their licensed status. Entities must appoint at least two qualified resident directors, maintain principal banking and accounting operations locally, hold director meetings in Mauritius, and satisfy at least one additional operational criterion such as maintaining local office premises, employing resident staff, or holding a minimum of USD 100,000 in local assets. Corporations bear the burden of proving that their local expenditures are reasonable relative to their business activities, turnover, and industry benchmarks, with related group entities permitted to fulfill these requirements on their behalf.

The British Virgin Islands Minister of Finance issued this 2014 Order to amend the tax information exchange agreement with the United Kingdom by inserting new Articles 5A and 5B into its Schedule. These articles establish frameworks for the automatic and spontaneous transmission of foreseeably relevant tax data between competent authorities, enabling them to determine exchange items and procedures. The arrangement takes effect upon mutual notification of completed domestic procedures, applying to information exchanged from the later notification date regardless of the taxable period.

The Minister of the British Virgin Islands issued this Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral agreement with the United Kingdom for automatic tax information exchange. The Order mandates BVI financial institutions to identify reportable accounts held by UK residents, apply due diligence procedures aligned with US Treasury regulations, and annually transmit account balances, interest, dividends, and gross proceeds to HMRC. Information for the initial reporting year of 2014 must be exchanged by September 30, 2016, with subsequent annual data submissions due within nine months after each calendar year-end to enhance international tax compliance and transparency.

The Commission for Financial Supervision issued Ordinance No. 49 to regulate the conditions and procedures for mandatory motor third party liability and passenger accident insurance in Bulgaria. The ordinance mandates specific content for insurance policies, introduces a unified methodology for assessing vehicle damage claims, and establishes strict rules for the issuance and use of Green Cards and guarantee fund signs. It further defines the obligations of insurers regarding claim processing, the handling of border insurance for non-EU vehicles, and the protection of vulnerable claimants.

The Minister of the Virgin Islands promulgated this Order to incorporate the Convention on Mutual Administrative Assistance in Tax Matters (as amended by its 2011 Protocol) into the territory’s domestic legal framework. It mandates comprehensive cross-border tax cooperation by standardizing procedures for information exchange, tax claim recovery, and the service of official documents. Deemed effective as of March 1, 2014, the Order operationalizes these multilateral obligations to enhance tax administration while protecting taxpayer rights and information confidentiality.

The British Virgin Islands Minister for Finance issued this Order to apply Part I of the 2003 Mutual Legal Assistance (Tax Matters) Act to a bilateral agreement with Japan for the exchange of tax-related information. The agreement mandates competent authorities to obtain and provide requested data regarding financial institutions, ownership structures, and trusts within sixty to ninety days, while permitting cross-border tax examinations. It establishes strict confidentiality safeguards, defines jurisdictional boundaries and applicable taxes, and permits either party to decline requests that conflict with public policy or disclose protected commercial secrets.

The Financial Services Commission of Mauritius has amended Section 3 of Chapter 4 of the Guide to Global Business to require Category 1 Global Business Companies (GBC1s) to demonstrate sufficient local substance. These entities must now maintain office premises, hold assets, employ staff, and utilize local service providers to satisfy the statutory "managed and controlled" test. All affected GBC1s must implement these operational requirements by 1 January 2015.

The House of Assembly of the Virgin Islands approved the Financial Investigation Agency's direction issued under Section 3 of the Proliferation Financing (Prohibition) Act, 2009. This approval validates Statutory Instrument 2011 No. 74, which addresses risks of terrorist financing, money laundering, and proliferation activities in specific countries. The resolution fulfills the statutory requirement for legislative approval within twenty-eight days to ensure the order remains in effect.

The Minister of the British Virgin Islands issued this Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral agreement with Poland governing the exchange of tax-related information. The agreement mandates competent authorities to provide requested data on covered taxes, financial institutions, and ownership structures, while permitting cross-border tax examinations and establishing strict confidentiality and legal privilege safeguards. It encompasses personal, corporate, payroll, property, and goods and services taxes, enters into force upon mutual domestic notification, and remains effective until either party terminates it through diplomatic channels.

The Financial Services Commission of Mauritius issued these guidelines to clarify the regulatory framework for resident corporations operating under Category 1 and Category 2 Global Business Licences. Holders of a Category 2 licence may conduct business locally if they demonstrate substantial economic impact, while Category 1 holders can operate domestically without prior approval provided they comply with relevant laws and submit annual audited reports confirming their local business percentage. The Commission determines whether the majority of a company’s activities occur outside Mauritius by evaluating either asset allocation for investment holding or revenue generation for product and service provision.

The Financial Services Commission of Mauritius establishes criteria for Global Business Licence holders to qualify as conducting business outside the country, requiring that their ultimate investment or service purpose targets non-resident markets rather than merely serving overseas clients from within Mauritius. The guidelines permit specific domestic transactions, such as maintaining local bank accounts, leasing Mauritian property, and employing resident staff, while mandating annual director certifications and auditor certificates to verify compliance and track the proportion of business conducted locally. Furthermore, the Commission retains authority to restrict or remediate domestic operations when licence holders fail to meet regulatory conditions or act detrimentally to Mauritius’s public and economic interests.

The Financial Services Commission of Mauritius has issued these Competency Standards to establish minimum technical competencies, qualifications, experience, and Continuous Professional Development requirements for licensees across the insurance, securities, and management sectors. The framework mandates that designated officers demonstrate competence through specified qualifications, relevant training, or industry experience, while maintaining at least ten hours of structured CPD annually. Licensees must retain detailed competency records for seven years and face regulatory directions or administrative sanctions for non-compliance.

The Financial Services Commission issued the Securities (Disclosure Obligations of Reporting Issuers) (Amendment) Rules 2014 to modify existing disclosure requirements for reporting issuers. The amendment inserts a formal definition for Exchange Traded Funds and explicitly exempts them from specific disclosure provisions under Rule 8. It further amends Rule 16A to exclude foreign investment transactions executed on foreign securities exchanges, with the rules taking effect on 22 December 2014.

The Financial Services Commission of Jamaica proposes a methodology for securities dealers to transfer exempt foreign currency securities to Collective Investment Schemes under a special limited exemption. The document outlines a global limit for these transfers based on December 31, 2013 holdings and establishes compliance formulas for foreign currency restrictions applicable to both dealers and schemes. Additionally, it mandates quarterly Foreign Currency Investment Projections to monitor eligibility and enforce prevailing caps on foreign asset holdings.

The Financial Services Commission of Mauritius has amended its consolidated licensing framework to update fee structures for pension scheme administrators. The revised schedule establishes a standard processing fee of Rs 30,000 and introduces variable annual fees ranging from Rs 10,000 to Rs 20,000 based on beneficiary counts. Deemed effective from 1 July 2014, these amendments operate under the Financial Services Act 2007 to standardize licensing costs across authorized financial service providers.

The Financial Services Commission of Mauritius issued these Rules to regulate the licensing, appointment, and administration of private pension schemes. Administrators must act in beneficiaries' best interests, collect contributions, maintain accurate records, and report material changes or resignations to the Commission within specified timeframes. The Rules establish clear procedures for authorisation, termination, and withdrawal of administrative functions while mandating fiduciary duties, anti-money laundering compliance, and transparent reporting to safeguard scheme assets.

The Financial Services Commission of Mauritius issued these rules to require private pension schemes to submit specified returns within six months after their financial year-end. Foreign pension schemes may fulfill this obligation by providing certified copies of English-language returns previously filed with their domestic supervisory body within one month. Commencing on 1 September 2014, the regulations establish clear compliance pathways under the Private Pension Schemes Act 2012.

The Financial Services Commission Mauritius issued this Practice Note to clarify licensing requirements for banks engaging in swaps and derivatives under the Financial Services Act 2007. It delineates exemptions for bilateral, proprietary, and normal-course transactions from FSC licensing, while mandating licenses for banks acting as intermediaries on OTC or exchange platforms. The guidance aligns domestic regulatory frameworks with G20 and IOSCO reforms aimed at enhancing transparency, mitigating systemic risk, and standardizing OTC derivatives markets.

The Financial Services Commission of Mauritius has amended the brokerage fee schedule for transactions involving Government of Mauritius and Bank of Mauritius securities. The revised schedule establishes tiered total brokerage fees ranging from 100 to 2,500 Mauritian rupees based on transaction values up to 20 million rupees, distinguishing between designated Investment Dealers and other market participants. These amended rules commenced on 25 August 2014, directly standardizing transaction cost calculations under the principal 2011 framework.

The Governor of the Virgin Islands issued these regulations to prohibit the flight, takeoff, or landing of any aircraft owned, leased, or operated by the Taliban or designated persons within Virgin Islands airspace. The prohibition applies to all aircraft regardless of registration status and incorporates the definition of designated persons from the Al-Qaida (United Nations UK 2012 Measures) Order. An exemption is permitted only when a flight secures advance approval from the United Nations Security Council Committee for humanitarian or religious purposes and receives explicit authorization from the Governor, with the rules taking effect on September 20, 2013.

The Minister of the Virgin Islands issued this 2013 Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to two international agreements concerning tax information exchange. The Order formally incorporates the bilateral pacts with Guernsey and Canada, establishing standardized procedures for requesting and providing tax-related data, designating competent authorities, and mandating strict confidentiality. It enables both jurisdictions to effectively administer domestic tax laws, conduct cross-border examinations, and safeguard information while preventing discriminatory or prejudicial tax measures.

The British Virgin Islands Minister for Finance issued this Order to formally incorporate an Addendum containing typographical corrections into the Schedule of the 2010 Mutual Legal Assistance (Tax Matters) Order. The amendment replaces specific designations in the Agreement and Protocol between the British Virgin Islands and the Kingdom of the Netherlands, substituting "Premier" with "Prime Minister" and correcting "O'Neil" to "Requesting" or "Requested". These corrections validate the original state of the Agreement and Protocol, ensuring accurate terminology for mutual tax assistance requests without altering substantive obligations.

The Minister for Finance of the British Virgin Islands issued this Order to amend the schedule of the 2011 Mutual Legal Assistance (Tax Matters) legislation. It incorporates targeted corrections and terminological updates to the 2009 Agreement and Protocol between the British Virgin Islands and the Kingdom of the Netherlands regarding Aruba. These amendments formally replace "O'Neal" with "Prime Minister", update signatory designations, and validate the revised treaty text as if originally enacted.

The Financial Supervision Commission issued Ordinance No. 48 to establish principles and requirements for remuneration policies in insurance, reinsurance, supplementary social security, collective investment management companies, and public companies. The regulation mandates that remuneration structures promote sound risk management, align with long-term interests, and include mechanisms for deferral, clawback, and conflict of interest avoidance. It further requires transparent disclosure, periodic review, and shareholder approval of remuneration policies, particularly for members of supervisory and management bodies.

The Financial Supervision Commission issued Decree No. 48 to establish principles and requirements for remuneration policies across Bulgarian insurance, reinsurance, supplementary social security, collective investment management companies, and public companies. The regulation mandates that remuneration structures promote sound risk management, align with long-term interests, and prevent excessive risk-taking by linking variable pay to performance and risk profiles. It further requires strict governance, including board approval, independent internal review, deferral mechanisms for variable compensation, and comprehensive public disclosure of remuneration practices.

The Financial Supervision Commission issued Ordinance No. 48 to establish principles and requirements for remuneration policies across insurers, reinsurers, supplementary social security funds, management companies, and public companies. The regulation mandates that remuneration structures align with long-term interests, risk management, and financial stability, prohibiting incentives that encourage excessive risk-taking. It further requires strict governance, including independent oversight, deferral of variable pay, clawback provisions, and comprehensive transparency regarding executive compensation.

The Financial Services Commission of Mauritius issued these rules to establish technical funding requirements for licensed private pension schemes, mandating regular actuarial valuations and reports. Defined benefit schemes must maintain a funding ratio of at least 100 percent (or 90 percent with compliant contribution rates), while defined contribution schemes calculate technical provisions based on member contributions, investment returns, and smoothing reserves. The regulations outline compliance procedures for managing underfunding through employer payments or approved contingency plans, specify surplus utilization limits to preserve a 105 percent funding ratio, and require governing bodies to maintain documented investment reserve management policies.

The Financial Services Commission of Mauritius issued these Rules to regulate the investment practices of licensed private pension schemes. The legislation mandates that each scheme maintain a prudent, written investment policy approved by its governing body and filed with the Commission, while imposing strict concentration limits on foreign investments, single-entity holdings, and real estate. It further standardizes the appointment of pension investment managers, defines fiduciary duties and risk management requirements, and sets a compliance deadline of 1 July 2015 for existing schemes.

The Financial Services Commission of Mauritius issued these Rules to establish a standardized administrative penalty regime for licensees who fail to comply with specified statutory and regulatory obligations. Licensees must pay fixed daily penalties, typically ranging from Rs 300 to US$10 per business day of non-compliance, with a statutory cap of 150,000 rupees (USD 5,000) per breach for incidents occurring after December 2017. These penalties are recoverable as civil debts, credited to the General Fund, and imposed without prejudice to other sanctions under the Financial Services Act 2007.

The Financial Services Commission of Mauritius issued the Securities (Licensing) (Amendment) Rules 2013 to amend the principal licensing framework by introducing a new Rule 10A. This amendment mandates that all securities transactions involving Mauritian-listed entities must be executed through licensed investment dealers, who are further required to verify compliance with statutory restrictions and identify foreign investors. The rules commenced operation on 1 April 2013 to enforce these obligations across the securities exchange.

The Financial Services Commission of Mauritius issued these 2013 rules to amend general insurance solvency requirements by capping aggregate investments in related companies at ten percent of an insurer's total assets. Insurers must comply with this limit by 30 June 2014, or apply to the Commission for a justifiable extension of up to six months. The amended provisions, which explicitly include receivables, deposits, and loans within the definition of investment, commenced operation on 1 July 2013.

The Financial Services Commission issued this rule under Section 155 of the Securities Act 2005 to formally revoke the Stock Exchange (Investment by Foreign Investors) Rules 1994. The revocation updates the regulatory framework governing foreign capital flows into Mauritian securities markets, ensuring alignment with current legislative standards. The rule officially takes effect on April 1, 2013, immediately replacing the prior regulations for all relevant market participants.

The Financial Services Commission of Mauritius issued these rules to amend the governance framework for private pension schemes under the Private Pension Schemes Act 2012. The amendments establish a statutory definition for "service provider" and replace existing governing body appointment provisions, permitting service providers promoting such schemes to appoint any number of members in compliance with the Financial Services Act 2007 and scheme constitutive documents. These rules commenced on 21 December 2013 to enhance regulatory alignment and operational flexibility for private pension schemes.

The Financial Services Commission of Mauritius issued these rules to establish a regulatory framework for recognizing foreign entities as remote custodians on licensed clearing and settlement facilities. Recognized entities must maintain a local Mauritian agent, satisfy anti-money laundering due diligence checks, and submit specified incorporation and regulatory evidence to obtain or maintain their status. The rules also prescribe applicable processing and annual fees, outline conditions for varying or withdrawing recognition, and amend existing licensing schedules to integrate remote custodians into the domestic securities market.

The Financial Services Commission of Mauritius issued these rules to amend the 2008 Consolidated Licensing and Fees Regulations by introducing a standardized fee schedule for Foreign Investment Dealers trading on the Stock Exchange of Mauritius. The amendments establish four distinct licensing codes that specify processing fees, fixed annual fees, and applicable brokerage charges based on dealer services. These updated licensing requirements officially commenced operations on 12 December 2013 under the authority of the Financial Services Act 2007 and Securities Act 2005.

The Financial Services Commission of Mauritius issued the 2013 Amendment Rules to update licensing and fee structures under the Financial Services Act 2007, Securities Act 2005, and Insurance Act 2005. The amendment modifies the principal 2008 Rules by adding two new financial service provider categories, Global Headquarters Administration and Global Treasury Activities, to the licensing schedule. These new categories are authorized under Section 14 of the Financial Services Act and take effect on 15 March 2013, establishing a standardized framework for their regulatory oversight and fee assessments.

The Financial Services Commission of Mauritius issued these rules to regulate brokerage fees charged by investment dealers for turnaround trades, defined as paired opposite transactions on the same security executed before settlement. Dealers must calculate fair fees based on transaction value and operational costs while prominently publishing their maximum brokerage fee online according to a tiered schedule. The Commission retains authority to mandate downward revisions for excessive charges and collects a fixed or percentage-based levy depending on whether the transaction value meets or exceeds fifty thousand rupees.

The Financial Services Commission of Mauritius issued the Securities (Investment by Foreign Investors) Rules 2013 to restrict foreign ownership in Mauritian Sugar Companies. Foreign investors must secure prior written Commission consent to hold fifteen percent or more of a sugar company’s voting capital, with investment dealers verifying transactions and notifying the Commission once foreign holdings reach ten percent. The Commission designates qualifying passive entities as exempt foreign investors, thereby relieving them from these ownership caps and notification requirements while retaining the authority to impose conditions or cancel exemptions.

The Financial Services Commission of Mauritius established these rules to regulate brokerage fees charged by investment dealers for debenture transactions on securities exchanges. Dealers must charge fair, cost-reflective fees, publish maximum rates online according to a prescribed schedule, and remit Commission levies of 0.0025 percent or MUR two based on transaction value. The Commission retains the authority to mandate downward fee revisions if current rates are deemed abusive.

The Financial Services Commission of Mauritius enacted these rules to amend the quarterly disclosure requirements for reporting issuers under the 2007 principal Rules. The revised Rule 8 requires issuers to publish an announcement containing key quarterly report data in at least one widely circulated local newspaper on the day after board approval. Furthermore, issuers must place a corresponding notice in two other local newspapers indicating that the accounts are available on their website or at their registered office.

The Financial Services Commission of Mauritius issued these rules to amend the principal disclosure regulations by defining foreign investors and mandating monthly reporting obligations for listed companies. These entities must now file detailed transaction returns with the Commission and their respective securities exchange, specifying investor names, dealers, trade dates, quantities, prices, and the aggregate voting share percentage held by foreign investors. The amendments commenced on 1 April 2013, thereby standardizing transparency and regulatory oversight of cross-border equity investments in Mauritian markets.

The Financial Services Commission of Mauritius issued these rules to amend licensing and fee structures for financial service providers. The amendments revise variable annual fee payment schedules, mandate quarterly payments for insurance businesses and advance payments for management licences, and cap aggregate annual fees for management licences at US$ 20,000. Updated tables in the First Schedule establish precise processing, fixed, and variable fees for Corporate and Trust Service Providers based on their administered entity counts and service types.

The Financial Services Commission of Mauritius amended the fee schedules for Corporate and Trust Service Providers by updating specific numerical codes in the First Schedule of the 2008 principal Rules. This amendment replaces figures ten and eleven with fifty and fifty-one, while updating two hundred and two hundred one to two hundred fifty and two hundred fifty-one respectively. The revised licensing and fee framework officially commences on 1 July 2013 under Section 93 of the Financial Services Act 2007.

The Financial Services Commission issued these rules to amend long-term insurance solvency requirements by capping aggregate investments in related companies at ten percent of an insurer's assets and broadly defining investment to include receivables, deposits, and loans. Insurers must comply with the new cap by 30 June 2014, and may apply for a Commission-granted extension of up to six months if they demonstrate just or reasonable cause. The amendment rules officially commenced on 1 July 2013 under the Financial Services Act 2007 and Insurance Act 2005.

The Legislature of the Virgin Islands enacted this Act to establish a mandatory registration and supervision framework for non-profit organizations to prevent their misuse for money laundering or terrorist financing. The legislation creates a Non-Profit Organisation Registration Board to manage applications and deregistration, while empowering the Financial Investigation Agency to monitor compliance, inspect records, and conduct inquiries. Registered entities are subject to strict obligations regarding financial reporting, record maintenance, and notification of changes, with administrative penalties and criminal sanctions enforced for non-compliance.

The Commission for Financial Supervision issued Ordinance No. 47 to regulate the information systems of pension insurance companies, mandating the implementation of an information security management system based on ISO/IEC 27001 standards. The ordinance requires companies to maintain unified electronic files for insured persons and beneficiaries, ensuring secure data exchange, electronic service provision, and the upkeep of specific operational registers. It further establishes administrative liability for non-compliance and outlines transitional provisions for integrating Pan-European Pension Product (PEPP) regulations into existing system requirements.

Her Majesty in Council issued this Order to implement United Nations Security Council resolutions combating terrorism within specified British Overseas Territories. It criminalizes the collection, provision, and making available of funds for terrorist purposes and empowers Governors to freeze assets of suspected individuals or entities. The legislation establishes reporting obligations for financial institutions, grants authorities powers to compel information disclosure, and defines penalties including imprisonment and fines for non-compliance.

The Governor in Council of the Virgin Islands issued this Order to designate specific countries and territories for the enforcement of external confiscation orders under the Proceeds of Criminal Conduct Act, 1997. The Order modifies the primary Act to facilitate cross-border recovery by establishing procedures for proving foreign court orders, admitting certificates from designated authorities as evidence, and defining the appropriate authorities for each jurisdiction. It further regulates the satisfaction of confiscation orders through currency conversion rules and allows for restraint and charging orders to secure assets pending proceedings in designated countries.

The legislative authority establishes a streamlined procedure for estates valued at two hundred and forty dollars or less. Eligible relatives apply to the Registrar for letters of administration or probate, which are granted without bonds or oaths after verifying estate value and identity. A fixed fee of one dollar and twenty cents covers all applications, while knowingly providing false statements triggers summary conviction with fines up to one hundred and twenty dollars or six months imprisonment.

The Bulgarian Financial Supervision Commission issued Ordinance No. 46 to establish the detailed procedures for paying compensation from the Investor Compensation Fund to clients of insolvent investment intermediaries and fund managers. The regulation defines the specific triggers for compensation, such as insolvency proceedings or license revocation, and mandates that all claims be calculated in Euros using National Bank reference rates. It further outlines the strict documentation requirements, submission deadlines, and administrative steps for the Fund's Board of Directors to evaluate and disburse funds through an appointed servicing bank.

The Financial Services Commission of Mauritius issued this Guide to standardize licensing conditions and streamline the application process for Category 1 and Category 2 Global Business Licences. Management Companies and Registered Agents must now submit complete applications using a prescribed checklist, conduct thorough customer due diligence on beneficial owners and controllers, and maintain original signatures with supporting legal certificates. Incomplete submissions will be returned, and applications deemed withdrawn if queries remain unanswered for two months, while the Commission retains discretion to assess each case on its merits and issue licences within one to four working days.

The Financial Services Commission of Mauritius issued these amendment rules to modify the disclosure obligations for reporting issuers under the Securities Act 2005. The rules amend Rule 3 of the principal regulations by requiring reporting issuers to notify the Commission of registration statement changes and submit an updated document within two weeks. These provisions commenced on 1 January 2013 to ensure timely and accurate market disclosures.

Issued by the Financial Services Commission of Mauritius, these rules amend the 2008 licensing regulations to update pension administrator classifications, remove specific specialized financial service codes, and establish a new fee schedule for private pension schemes. The revised framework specifies processing and annual fees in both Rupees and US dollars across multiple authorization codes under the Private Pension Schemes Act 2012. The amendments commenced on 1 November 2012 following their formal issuance on 31 October 2012.

The Financial Services Commission of Mauritius amended the licensing and fee schedules for securities, capital market intermediaries, and foreign investment dealers trading on the Global Business Exchange. The Rules update processing and fixed annual fees in both Rupees and US dollars, introducing tiered calculations based on the number of concurrent licenses held. These revised authorization tables and fee structures officially commenced operations on 1 October 2012.

The Financial Services Commission of Mauritius promulgated these Rules to standardize the licensing and authorisation frameworks for domestic private pension schemes and foreign pension schemes operating locally. The regulations dictate detailed application procedures, required documentation, processing fees, and substantive conditions regarding beneficiary protection, anti-discrimination practices, internal controls, and money laundering compliance. Additionally, the Rules mandate specific transfer value calculations for departing members, validate pre-2023 schemes' constitutive documents against statutory requirements, and define the validity periods for all issued licences and authorisations.

The Financial Services Commission of Mauritius issued these Rules to establish governance standards for licensed private pension schemes. The Regulations require governing bodies to maintain suitably qualified members, exercise fiduciary oversight over administration and investments, and obtain prior Commission authorisation to operate. Additionally, the Rules prescribe specific administrative functions, accountability measures, and reporting obligations to ensure timely benefit payments and protect beneficiaries' interests.

The Financial Services Commission of Mauritius issued the Securities (Licensing) (Amendment) Rules 2012 to introduce a new Investment Dealer (Equity Segment) licence category and formally define the Global Board of Trade. These amendments restrict designated investment dealer licences to trading exclusively on the GBOT and establish a 1,000,000 minimum stated unimpaired capital requirement for equity segment dealers. The rules were executed on 27 September 2012 and commenced operation on 1 October 2012, thereby updating the principal licensing framework.

The Financial Services Commission of Mauritius issued these rules to mandate transparent disclosure practices for licensed private pension schemes. Administrators and sponsoring employers must provide prospective members with eligibility summaries, deliver annual written benefit statements detailing contributions and accrued values, and disclose investment options, risks, costs, and performance metrics. The regulations also guarantee beneficiaries the right to request annual reports and constitutive documents, establish clear grounds for information refusal, cap disclosure fees at reasonable levels, and require timely notifications during scheme termination.

The Commission for Financial Supervision issued Ordinance No. 44 to regulate the operational requirements for collective investment schemes, management companies, national investment funds, and alternative investment funds in Bulgaria. The ordinance mandates strict liquidity management protocols, defines eligible assets including specific criteria for money market instruments and derivatives, and establishes detailed contractual obligations between investment companies, managers, and depositaries. It further sets forth rules for asset valuation, conflict of interest prevention, and investor protection measures to ensure the stability and transparency of the investment sector.

The Financial Services Commission of the British Virgin Islands issued this statutory instrument to restrict the use of specific words and phrases in company names under the BVI Business Companies Act, 2004. The Notice prohibits the Registrar from registering any company containing listed restricted terms unless the Commission provides prior written consent for their use. The Schedule enumerates these prohibited terms, which include financial and governmental designations such as 'Bank', 'Trust', 'Insurance', and 'Royal', along with their derivatives and abbreviations.

The Financial Services Commission of Mauritius has issued these guidelines to establish a unified code of conduct for Management Companies administering Global Business Companies. The rules mandate rigorous client vetting, segregation of client funds and assets, strict conflict-of-interest management, and verified source of funds to ensure robust anti-money laundering compliance. Persistent violations may trigger a license review, while standardized procedures for director appointments, bank account control, and complaint handling ensure consistent regulatory oversight across the sector.

The Virgin Islands Minister of Finance issued this Order to activate automatic exchange of information under Section 17 of the Mutual Legal Assistance (Tax Matters) Act, 2003. The legislation takes effect on January 1, 2012 and requires the competent authority to apply and transfer withholding tax for the 2011 tax year in accordance with Section 16 of the Act. This statutory transition establishes a continuous framework for international tax data sharing while preserving pre-2012 withholding obligations.

The Financial Services Commission of Mauritius issued these 2011 Rules to amend the Consolidated Licensing and Fees Regulations by updating specific annual licence fees in the First Schedule, raising Corporate and Trust Service Provider fees to 5,000 US dollars and Global Business Licence fees to 1,750 US dollars. The amendment replaces the "First Annual Licence Fee" and "Charges" tables with revised schedules that adjust fees based on application months and payment timing. Coming into force on 1 January 2012, the rules include a transitional provision ensuring licensees who prepaid their annual fees for the financial year ending June 2012 are exempt from additional payments.

The Financial Services Commission of Mauritius issued these Rules to establish fixed brokerage fees for transactions involving Government of Mauritius and Bank of Mauritius securities traded on a licensed exchange. Clients of investment dealers must pay tiered transaction fees based on the trade value, while primary dealers acting as liquidity providers are exempt. The regulations exclude direct transactions by the State and the Bank of Mauritius, applying to all other market participants according to two distinct fee schedules.

The Minister of the British Virgin Islands issued this Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral tax information exchange agreement with Portugal. The agreement mandates competent authorities to exchange foreseeably relevant tax and criminal tax information upon request, covering bank records, beneficial ownership, and cross-border tax examinations. It establishes strict confidentiality, safeguards against disproportionate costs or public policy conflicts, and ensures the exchange operates without prejudicial measures while remaining in force indefinitely until terminated by either party.

The Minister of the Virgin Islands issued the Mutual Legal Assistance (Tax Matters) (No. 4) Order, 2010, applying Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003, to an agreement with the People's Republic of China. This agreement establishes a framework for the exchange of information relating to taxes between the British Virgin Islands and China, covering individual income, enterprise income, payroll, and property taxes. It details the scope of information exchange, procedures for requests, confidentiality requirements, and conditions under which requests for tax-related information, including beneficial ownership, may be declined.

The Minister of the British Virgin Islands issued this Order to implement a bilateral information exchange agreement with Iceland covering civil and criminal tax matters. It applies Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to require competent authorities in both jurisdictions to exchange foreseeably relevant tax data, conduct cross-border examinations, and maintain strict confidentiality. The Order establishes standardized request procedures, cost allocation rules, legal privilege safeguards, and entry-into-force conditions to facilitate transparent tax cooperation without prejudicial measures.

The Minister of the British Virgin Islands issued this Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral agreement with Denmark for the exchange of tax information. The Order establishes detailed procedures enabling competent authorities to request, obtain, and share confidential data on income, payroll, property, and value-added taxes while ensuring requests demonstrate foreseeable relevance. It further mandates safeguards against disproportionate costs, legal privilege, and prejudicial tax measures to facilitate efficient cross-border tax administration without triggering "fishing expeditions."

The Minister of the Virgin Islands issued this Order to formally apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to bilateral agreements between the United Kingdom and the Virgin Islands. The Order incorporates treaties governing the exchange of tax-related information and the avoidance of double taxation, establishing detailed procedures for competent authorities to request, provide, and verify financial and ownership data across jurisdictions. It defines the scope of covered taxes, mandates confidentiality, permits cross-border tax examinations, and includes safeguards to prevent prejudicial measures based on harmful tax practices from disrupting the agreements.

The House of Assembly of the Virgin Islands approved the Direction Given by The Financial Investigation Agency Under Section 3 of the Proliferation Financing (Prohibition) Act, 2009. This approval validates the Agency's exercise of power to address risks of terrorist financing or money laundering in specific countries that threaten the interests of the Virgin Islands or the United Kingdom. The resolution fulfills the statutory requirement under section 11 of the Act to lay the order before the House for approval within twenty-eight days to ensure it remains in effect.

The United Kingdom government issued this Order to extend anti-terrorism financial measures to specified Overseas Territories including Anguilla, Montserrat, and the Falkland Islands. It establishes criminal offences for fundraising, possession, and funding arrangements involving terrorist property, while mandating disclosure duties for individuals in the regulated and public sectors who suspect such activities. The legislation further provides for account monitoring orders, extraterritorial jurisdiction for terrorist finance offences, and civil forfeiture powers for terrorist cash.

The Financial Services Commission of Mauritius issued these rules to establish a comprehensive regulatory framework governing corporate takeover offers for reporting issuers. The regulations mandate strict conduct standards including firm intention announcements, standardized pricing mechanisms with automatic upward revisions, and compulsory unconditional offers for acquirers exceeding 30 percent effective control. They further enforce equal shareholder treatment, restrict pre- and post-announcement dealings to prevent market distortion, and empower an independent adviser and Takeover Advisory Panel to oversee offer validity and minority shareholder protections.

The Financial Services Commission of Mauritius issued the 2010 Amendment Rules to update licensing requirements under key financial legislation. These rules specifically amend Rule 12 of the principal 2008 regulations by mandating that applicants submit a comprehensive business outline detailing their proposed activities. Enacted pursuant to the Financial Services, Securities, and Insurance Acts of 2005 and 2007, the amendments took effect immediately upon publication in the Government Gazette.

The Financial Services Commission amended the general insurance solvency framework to permit insurers to include legally subordinated loans in their available capital. The rules require these unsecured loans to exceed five years in original maturity, carry explicit policyholder priority, and remain redeemable only at the insurer’s discretion with prior Commission approval. Repayment of such loans is explicitly deferred until all policyholder and creditor claims are fully satisfied during winding up.

The Financial Services Commission of Mauritius issued these Rules to establish a comprehensive authorization framework for foreign investment dealers seeking to trade on licensed Mauritian securities exchanges. The framework requires exchange-submitted applications to demonstrate consistent home-jurisdiction regulation, IOSCO MMOU adherence, and proper documentation while mandating the exchange to conduct due diligence and monitor ongoing compliance. Authorized dealers must designate a local officer to serve as the primary regulatory contact and ensure all trades are settled through clearing members, with authorization remaining valid only while home-jurisdiction permissions persist.

The Governor of the Virgin Islands issued this proclamation to appoint the effective date for the Insurance Act, 2008. Exercising powers under Section 1(2) of the Act, the Governor declared that the legislation shall come into force on February 1, 2010. All subjects are required to take note of this date and govern themselves accordingly.

The Legislature of the Virgin Islands enacted this Act to empower the Financial Investigation Agency to impose directions on financial sector entities to mitigate risks of terrorist financing, money laundering, and proliferation activities. The Agency may require enhanced customer due diligence, ongoing monitoring, systematic reporting, or the restriction of business relationships with designated persons or countries posing significant risks. Non-compliance with these directions or licensing conditions constitutes a criminal offense subject to civil penalties, while the Agency retains broad powers to demand information and inspect premises to enforce these measures.

The Financial Services Commission of Mauritius issued the Securities (Licensing) (Amendment) Rules 2009 to introduce two new investment dealer licence categories for commodity and currency derivatives segments. These amendments modify Part III and the Fourth Schedule of the principal 2007 rules by granting targeted exemptions from existing licensing provisions and mandating a minimum stated unimpaired capital of MUR 1,000,000 for each new category. The updated licensing framework takes effect on 1 November 2009, thereby expanding the regulatory scope for derivatives market participants under the Financial Services Act 2007 and Securities Act 2005.

The Financial Services Commission of Mauritius amended the Financial Services (Consolidated Licensing and Fees) Rules 2008 to introduce two new licence categories for capital market intermediaries. The amendment updates the First Schedule by adding Investment Dealer licences for commodity and currency derivatives segments, each specifying corresponding Securities Act sections, processing fees of Rs. 30,000 (US$1,000), and fixed annual fees of Rs. 90,000 (US$3,000). These updated licensing and fee requirements commenced on 1 November 2009 under the authority of the Financial Services Act 2007, Securities Act 2005, and Insurance Act 2005.

The Commission for Financial Supervision issued Ordinance No. 41 to establish mandatory requirements for justifying the fair price of shares in public companies during transformations, joint venture agreements, and public offers. The regulation defines fair value calculation methods, including discounted cash flows, net asset value, and market multiples, while strictly regulating the weighting and application of these valuation techniques. It further mandates detailed disclosure of assumptions, financial coefficients, and macroeconomic factors to ensure transparency and objectivity in share pricing.

The Financial Services Commission of Mauritius issued these 2008 amendment rules to revise licensing definitions and establish a comprehensive fee schedule for financial service providers. The legislation amends the definition of "due date" and replaces the first schedule with detailed processing, fixed annual, and variable fees measured in both Rupees and US dollars across multiple license categories. These standardized charges apply to asset managers, investment dealers, insurers, collective investment schemes, and corporate trust service providers, with specific US dollar rates reserved for global business license holders.

The Financial Services Commission of Mauritius issued these rules under section 93 of the Financial Services Act 2007 to formally classify specific operations as other financial business activities. The regulations explicitly designate actuarial services, credit rating agencies, payment intermediary services conducted exclusively outside Mauritius, and foreign representative offices as qualifying activities under the Act's Second Schedule. Coming into effect upon publication in the Government Gazette, these rules were subsequently amended by Act No. 17 of 2018 to update their operational scope.

The Financial Services Commission of Mauritius consolidates licensing procedures and fee structures for financial services, global business, and authorized companies under the Financial Services Act 2007, Securities Act 2005, and Insurance Act 2007. The Rules mandate standardized application forms, processing fees, and detailed annual fee schedules featuring fixed and variable components based on license type and beneficiary count. They further establish fitness and propriety assessments through Personal Questionnaires while defining clear procedures for license issuance, termination, lapse, and reinstatement.

The Financial Services Commission issued these February 2008 guidelines to establish a standardized framework for insurers whose solvency or capital requirement ratios fall below statutory minimums. Insurers must submit a detailed contingency plan outlining the causes of shortfall, planned capital infusion, projected financial statements, and specific management actions to restore compliance. The document mandates quarterly monitoring reports comparing actual performance against projections, with non-compliance exposing licensees to regulatory directions and potential criminal sanctions.

The Financial Services Commission of Mauritius issued these rules to regulate the conduct, financial practices, and independence of licensed insurance and reinsurance brokers. Brokers must maintain separate fiduciary premium accounts, restrict remuneration to non-volume-based structures, and explicitly disclose broker fees and commissions to clients before policy placement. The regulations mandate strict reporting of audited financial statements and quarterly business placements, enforce ownership independence thresholds, and establish clear grounds for licence revocation or suspension.

The Financial Supervision Commission issued Ordinance No. 39 to establish the conditions and procedures for disclosing shareholdings in public companies and investment companies. The regulation mandates that shareholders and other entitled persons notify the Commission and the company immediately, but no later than four working days, when their voting rights cross 5% or 10% thresholds. It further specifies the required content of notifications, exemptions for market-makers and clearing activities, and equivalence rules for issuers from third countries.

The Financial Services Commission of Mauritius issued these rules to standardize the form, content, and filing requirements for prospectuses used in public securities offerings. The regulations mandate detailed disclosures regarding the issuer’s financial position, asset rights, risk factors, and management, while permitting simplified prospectuses or addendums under specific conditions. A fixed filing fee of 100,000 rupees applies to filings, and non-compliance triggers offences punishable by fines up to one million rupees.

The Financial Services Commission of Mauritius issued these rules to establish solvency margin and minimum capital requirements for general insurance businesses. Insurers must maintain a capital requirement ratio of at least 150 percent and calculate their minimum capital requirement by applying specified factors to balance sheet assets, policy liabilities, catastrophe provisions, and reinsurance ceded. The regulations further mandate strict investment concentration limits, define eligible capital components including subordinated loans, and require immediate notification and contingency plans if the ratio falls below target levels.

The Financial Services Commission of Mauritius issued these rules to establish comprehensive disclosure obligations for reporting issuers under the Securities Act 2005. Reporting issuers must maintain compulsory registration, promptly publish press releases or website notices regarding material changes, and submit audited financial statements within ninety days of each balance sheet date. The regulations further mandate quarterly financial reporting, detailed disclosures for asset acquisitions and related-party transactions, and strict insider notification requirements to ensure market transparency.

The Financial Services Commission of Mauritius issued these Rules to establish comprehensive solvency requirements for long-term insurers, mandating the use of a statutory solvency method with best-estimate assumptions and prescribed margins. Insurers must maintain a minimum capital requirement calculated as the higher of a stress test or Mauritian rupees 25 million, value assets at fair value, and adhere to strict investment concentration limits of up to 10 percent in listed entities. The Rules further require detailed actuarial reports certifying liability and asset valuations, bonus smoothing reserves, reinsurance arrangements, and ongoing compliance with prescribed valuation parameters.

The Financial Services Commission of Mauritius issued these rules under the Insurance Act 2005 to formally designate the African Reinsurance Corporation as an approved statutory reinsurer. This designation ensures the corporation qualifies for compulsory risk cession under Section 9(5)(b) of the Act, facilitating regulatory compliance for domestic insurers. The rules were executed on 28 September 2007 and are deemed to have come into operation on that same date.

The Financial Services Commission of Mauritius issued the Insurance (Returns) Rules 2007 to mandate insurers to submit periodic financial returns under Section 130 of the Insurance Act 2005. The rules prescribe specific reporting forms for general insurance business under the First Schedule and long-term insurance business under the Second Schedule. These standardized reporting requirements commenced on 28 September 2007 to ensure consistent regulatory oversight of insurer financial disclosures.

The Financial Services Commission of Mauritius promulgated these rules to establish comprehensive licensing frameworks for securities exchanges, investment dealers, advisers, and their representatives under the Securities Act 2005. The regulations define distinct licence categories, mandate minimum unimpaired capital thresholds, and prescribe specific qualification and experience requirements for representatives. Additionally, they outline application procedures, organizational and anti-money laundering standards, and conditions for licence modification or exemption.

The Commission for Financial Supervision issues Ordinance No. 34 to regulate hedging transactions by pension insurance companies for additional pension and payment funds to reduce investment risk. The ordinance mandates strict pre-trade risk analysis, counterparty creditworthiness requirements, and daily valuation of market and default risks. It further establishes specific limits on risk exposure relative to net assets and requires quarterly reporting on the effectiveness and impact of these hedging strategies.

The Commission for Financial Supervision issued Ordinance No. 33 to regulate the procedures, forms, and content requirements for individual applications to join an additional mandatory pension insurance fund or to resume insurance in a universal pension fund. The ordinance mandates that pension insurance companies maintain electronic registers of all applications, prohibits the offering of special privileges during the selection process, and establishes strict validation protocols involving the National Revenue Agency. It further defines administrative liability for violations and outlines the specific obligations of insurers to notify participants of changes in personal data and to report invalid applications.

The Commission for Financial Supervision issues Ordinance No. 31 to regulate the conditions, procedures, and requirements for the actuarial examination and the recognition of competence for responsible actuaries in Bulgaria. The regulation defines the structure of the exam, including basic and specialized modules, and establishes the criteria for granting full or partial professional competence in insurance and pension sectors. It further mandates the specific formats for actuarial certifications, reports, and annual actuarial statements under the Insurance Code and Social Security Code.

The Commission for Financial Supervision issues Ordinance No. 31 to regulate the examination process, qualification requirements, and recognition of competence for responsible actuaries in Bulgaria. The ordinance establishes the structure of the exam, including a basic module and three specialized modules, and defines the criteria for granting full or partial professional competence in insurance and pension sectors. It further mandates the specific formats for actuarial certifications, reports, and annual actuarial statements under the Insurance Code and Social Security Code.

The Commission for Financial Supervision issues Ordinance No. 29 to establish the minimum credit rating levels required for banks whose deposits may hold funds from supplementary pension and payment funds. The ordinance designates specific countries, international financial organizations, and stock markets whose indices are eligible for investment under the Social Security Code. It mandates that pension-insurance companies provide justification for using ratings from non-listed agencies and defines the legal framework for enforcing these requirements.

The Commission for Financial Supervision issues Ordinance No. 28 to regulate the professional qualification exams for insurance brokers, the recognition of qualifications from EU member states, and the registration of training organizations. The ordinance mandates that individuals seeking specific roles in insurance brokerage must pass a written exam administered by a commission, unless they possess recognized prior experience or qualifications. It further establishes strict requirements for the content of training programs, the conduct of exams, and the ongoing updating of educational materials by registered training providers.

The Governor in Council of the Virgin Islands issued these regulations under the BVI Business Companies Act, 2004 to govern the incorporation and operation of segregated portfolio companies that are mutual funds. The rules mandate specific application procedures for approval, require the appointment of designated functionaries, and establish strict protocols for the creation and notification of segregated portfolios to the Financial Services Commission. Additionally, the regulations impose ongoing compliance obligations regarding financial audits, name controls, and information updates, while defining a detailed schedule of fees and penalties for administrative services.

Issued by the Chairman of the Commission for Financial Supervision and the Chairman of the Management Board of the National Revenue Agency, this instruction establishes the procedure for the official allocation of individuals who failed to choose a universal or professional pension fund. The allocation is performed quarterly by a commission using weighted criteria including annual yield, fee levels, and the number of accepted individual applications. The process ensures that unallocated persons are assigned to funds based on these metrics and random selection for remaining slots.

The Commission for Financial Supervision issued this Ordinance to establish the conditions and procedures for investment intermediaries to value client assets for calculating annual contributions to the Investor Compensation Fund and determining compensation payouts. It mandates monthly market-value assessments of financial instruments and cash, specifying valuation methodologies for listed securities, unlisted shares, and foreign currency conversions to the euro. The regulation also defines exemptions for certain professional clients, requires the maintenance of valuation rules and records for five years, and outlines administrative penalties for non-compliance.

The Legislature of the Virgin Islands enacted this Act to amend the Insolvency Act, 2003 and make consequential provisions following its enactment. The legislation introduces numerous technical amendments to the principal Act, including updating definitions, clarifying procedural requirements for creditors' meetings, and establishing rules for the withdrawal or termination of company arrangements. It also modifies the powers and duties of administrators, insolvency practitioners, and the Official Receiver while introducing new sections to address specific insolvency scenarios.

The Executive Council of the Virgin Islands issued these regulations to establish the legal framework for transitioning from former insolvency laws to the Insolvency Act, 2003. The rules specify that proceedings commenced before the August 16, 2004 commencement date remain governed by the former law, while pending winding-up petitions are treated as applications under the new Act. Additionally, the regulations clarify the status of pre-Act receivers and insolvency practitioners, and preserve the prosecution of offences committed prior to the new regime's operation.

The Financial Services Commission of Mauritius issued these Practice Notes to establish a regulatory framework for Managed Corporate Service Providers (MCSPs) operating under management agreements with established Management Companies. The framework requires MCSPs to maintain segregated assets, records, and financial accounts, designate a Principal Officer, and demonstrate adequate resources while targeting conversion to fully-fledged operations within three years. Non-compliance exposes both the MCSP and its Managing Company to regulatory sanctions, including license revocation or directions to cease operations.

The Commission for Financial Supervision issued Ordinance No. 19 to regulate the creation, calculation, and maintenance of pension reserves by insurance companies managing voluntary pension funds and universal pension funds. The regulation mandates that pension reserves cover life annuities paid to retirees who outlive actuarial estimates, while separate guarantee reserves cover funding shortfalls in universal pension funds. It establishes strict accounting requirements, actuarial calculation methods using technical interest rates and mortality tables, and reporting obligations to the supervisory authority.

The Commission for Financial Supervision issued Ordinance No. 17 to establish the specific documents and content requirements necessary for obtaining permits for the transformation, merger, absorption, division, or separation of pension insurance companies and their managed funds. The regulation mandates detailed submissions including transformation agreements, expert valuations, financial reports, and actuarial calculations to ensure the protection of insured persons' rights and the financial stability of the entities involved. It further specifies the procedural requirements for voluntary termination and insolvency plans, ensuring comprehensive oversight of all structural changes within the pension insurance sector.

The Financial Supervision Commission of Bulgaria issued Decree No. 15 of 05.05.2004 to establish the procedures for maintaining, preserving, and providing public access to its electronic registers and physical files for a wide range of financial market participants. The regulation mandates that all registered entities, including regulated markets, investment intermediaries, insurers, and alternative fund managers, must submit specific circumstances and changes within seven days via standardized electronic or paper applications. It further details the mandatory data points for registration, the Commission's authority to impose administrative measures and sanctions, and the strict archival and integrity standards governing the automated information system.

The Commission on Financial Supervision issued Order No. 15 of 05.05.2004 to establish the procedures for maintaining, preserving, and providing public access to its electronic registers and card indexes for regulated financial entities. The regulation mandates that all listed entities, including investment intermediaries, insurers, market operators, and alternative investment fund managers, must submit registration applications and report changes within seven days via standardized electronic or paper forms. It further specifies the exact data points subject to registration, such as corporate identifiers, governance structures, licensing decisions, and imposed sanctions, while guaranteeing free public access to the registered information through the Commission’s official website and on-site facilities.

The Commission for Financial Supervision issues Decree No. 15 to establish the procedures for maintaining and storing its official registers and defining the specific circumstances subject to registration. The decree mandates that the Commission maintain electronic databases and physical card indexes for a wide range of financial entities, including regulated markets, investment intermediaries, insurance companies, and alternative investment fund managers. It further details the mandatory information to be recorded for each entity, such as identification codes, governance structures, and regulatory sanctions, while ensuring public access to this data through electronic means.

The Financial Supervision Commission issued Regulation No. 13 to establish the detailed procedural framework for public offers to purchase or exchange voting shares in Bulgarian public companies. It mandates mandatory offer triggers upon crossing specific voting thresholds, dictates strict pricing formulas based on fair value and market averages, and regulates competing offers, withdrawal procedures, and comprehensive disclosure requirements for offerors. The regulation further outlines shareholder notification obligations, suspension powers for the Commission, and the precise content specifications required in all public offer documentation to ensure market transparency and investor protection.

The Commission for Financial Supervision issued Ordinance No. 12 to establish the legal framework for determining minimum yields and managing reserves for additional voluntary pension funds in Bulgaria. The regulation mandates that pension insurance companies form and maintain specific reserves to guarantee minimum yields, detailing the calculation methods for weighted average yields and the procedures for covering shortfalls. It further outlines the administrative and financial mechanisms for releasing or supplementing these reserves based on asset thresholds and imposes administrative penalties for non-compliance.

The Financial Supervision Commission of Bulgaria issues Decree No. 11 to establish the specific conditions and procedures for granting licenses to regulated markets, market operators, investment intermediaries, and various fund management entities. The regulation mandates strict capital requirements, corporate structuring, and comprehensive documentation regarding governance, IT systems, and personnel qualifications for all applicants. It further details the submission processes, required forms, and specific evidentiary documents needed for licensing, approvals, and registrations under Bulgarian financial law.

The Financial Supervision Commission issued Ordinance No. 9 of 19.11.2003 to mandate daily and monthly valuation procedures for assets and liabilities of supplementary pension funds, payment funds, and pension insurance companies. It establishes precise methodologies for calculating net asset values, single share prices, and investment returns across various fund types, including mandatory, voluntary, occupational, and Pan-European Personal Pension Product (PEPP) sub-funds. The regulation further standardizes the maintenance of individual insured accounts, PEPP accounts, and analytical accounts for deferred payment funds, while specifying valuation fallback methods for securities and collective investment units lacking active market prices.

The Commission for Financial Supervision issued Ordinance No. 3 to regulate the procedures and requirements for insured persons to change their participation in additional pension funds and transfer accumulated funds between different pension insurance companies in Bulgaria. The ordinance mandates specific application formats, verification processes, and strict prohibitions against offering special privileges or gifts to induce fund changes. It establishes detailed timelines for processing applications, handling rejections and appeals, and executing fund transfers on a quarterly basis.

Enacted by the Legislature of the Virgin Islands, this legislation establishes a comprehensive regulatory framework for mutual funds, their managers, and administrators operating within or from the Territory. It mandates public funds to obtain registration and publish prospectuses with full financial disclosures, while private funds require recognition and licensed managers must secure operational authorization. The appointed Registrar of Mutual Funds, supported by an Advisory Committee, oversees compliance through maintained registers, audited financial statements, investor rights enforcement, and defined penalties for offences.

Her Majesty in Council issued this Order to extend and update copyright protection under the Copyright Act 1956 to literary, dramatic, musical, artistic works, sound recordings, films, and broadcasts originating from countries party to the Berne Convention and Universal Copyright Convention. The legislation applies UK copyright rules to foreign works, citizens, and incorporated bodies while specifying distinct commencement dates for sound and television broadcasts across listed nations. It further extends these protections to territories such as Gibraltar and Bermuda with tailored modifications and formally revokes twenty prior international copyright orders to consolidate the legal framework.

The Stock Exchange Commission of Mauritius issued these rules to regulate the formation, operation, and registration of investment clubs on its exchange. The regulations mandate that clubs notify the Commission within fourteen days, apply for registration within thirty days, maintain between five and thirty members, appoint designated officers, and utilize a licensed financial intermediary to manage contributions capped at 5000 rupees initially and 3000 monthly. Clubs must adhere to prescribed operational rules, submit required financial records and returns, and follow structured procedures for member admission, expulsion, dissolution, and proportional asset distribution.

The Financial Services Commission promulgated these rules to regulate foreign investment in Mauritian securities companies, mandating prior written consent for acquisitions that could establish management control or push foreign ownership in sugar firms to 15 percent. Transactions must be cleared through licensed investment dealers or resident custodians, which are required to submit daily purchase and sale reports to the securities exchange. The Commission retains discretionary power to designate passive entities as exempt foreign investors, thereby waiving the 15 percent sugar company cap while preserving its right to attach conditions or revoke status upon non-compliance.

The Stock Exchange Commission issued these 1992 rules to establish designation criteria and ongoing compliance obligations for approved investment institutions in Mauritius. Institutions must maintain a minimum twenty million rupees in paid-up capital, submit detailed annual and six-monthly financial reports, obtain Commission approval for major corporate actions, and ensure their appointed managers exercise due care and safeguard shareholder interests. The Commission retains inspection rights and may withdraw an institution’s approved status for rule non-compliance, insufficient public share subscription, or excessive concentration of investments.

The Stock Exchange Commission mandates relevant persons, including investment dealers and exchange staff, to maintain a designated register of their securities interests. Entries must be recorded within three days for transactions occurring after September 21, 1989, and within fifteen days of the rules' publication for earlier transactions. The Commission maintains these registers on-site using a standardized schedule that captures security details, transaction dates, parties involved, and financial consideration.