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Changes to LSC Guidelines

On 27 February 2013, the British Virgin Islands Financial Services Commission (the "FSC") advised Industry Practitioners of recent changes made to the Guidelines and Operating Procedures of the Licensing and Supervisory Committee (the "LSC").

The changes made to the LSC Guidelines are in respect to the delegation of authority, in certain instances, to the FSC's Directors regarding legislation and related activities.

With this change it is expected that the delegation of authority will reduce the time and resources allocated to matters which are considered routine and which can be quickly facilitated at the Division level.

For a copy of the Industry Circular No. 3 of 2013 (27 February 2013) - Changes to LSC Guidelines click here.