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FINTECH EXPERTS TO DISCUSS LEVERAGING TECHNOLOGY TO PROMOTE BUSINESS CONTINUITY AT UPCOMING WEBINAR
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BVI Finance is pleased to host a webinar titled “Leverage Technology to promote contact-less working and business continuity” on 17th June at 10:00am. Shankar Rachakonda, Partner at RKV International, and Chandra Alluri, FinTech practice lead at Radiant Digital, will present a webinar focusing on how to leverage technology to promote business continuity and to overcome the challenges with pandemic and other natural calamities.
Discussion will include:
- an overview of collaborative technologies in association with the Financial and Regulatory Technologies the BVI regulators should be considering;
- the proactive measures the BVI leadership should take;
- active participation of the industry and citizens to combat and avoid missteps using the technology, and
- how other nations are coping up with the pandemic.
Please submit all questions, in advance, to info@bvifinance.vg.
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HISTORIC TRAFFIC TURNAROUND TO BE LAUNCHED ON MONDAY, 15 JUNE
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The Government of the Virgin Islands has announced that the official launch of the historic Traffic Turnaround in Road Town will take place on 15th June 2020 after the final simulation over the weekend.
Minister for Transportation, Works and Utilities, Honourable Kye Rymer said: “The final simulation will take place on Sunday, 14th June beginning at 5:00 a.m. so that the public gets one final practice with all the adjustments and markings properly in place. Then on Monday, 15th June the official traffic turnaround and will take effect.”
Honourable Rymer added, “All new routes as advertised and aided by road signage and directional road markings should be followed. Let me urge motorists and pedestrians to be courteous to each other during this time of transition as it is the New Regular.”
Click here to read what you need to know about the traffic turnaround.
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BVI MUTUAL FUNDS ANNUAL RETURNS DUE 30 JUNE
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Administrators and other functionaries of BVI Mutual Funds are reminded that Mutual Funds Annual Returns (MFAR) are due on or before 30th June as prescribed by schedule 1 of the Financial Services (Prudential and Statistical Returns) Order, 2009.
Be reminded that the BVI Financial Services Commission will no longer be accepting Mutual Funds Annual Returns by post, mail, or email, and all filings complete through the electronic platform for submission: https://returns.bvifsc.vg/.
The MFAR replaced the former Mutual Funds Annual Survey and is required for all BVI funds. The online platform offers functionaries a secure environment to provide prudential, governance, and summary financial information, including simplified filing for SPCs and umbrella structures. For additional information, please send an email to fundreturns@bvifsc.vg.
To read the full circular from the FSC, click here.
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REGISTER NOW FOR OUR MIDDLE INVESTMENT SUMMIT 2020 WEBINAR
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Innovation is quickly changing the investment world as we know it. From innovative fund allocation to the rise of digital asset classes, investors need to respond both quickly and effectively to the evolving opportunities and ‘new norms’. On Thursday 18th June will we be hosting a webinar in partnership with the Middle East Investment Summit, titled Innovation in Funds - a hive of activity.
In this webinar, expert panelists will discuss, debate and aim to develop best-practice as the global investment community races to adapt to a new way of operating. We will look deeper into new fund strategies and regimes to keep up with the rate of change, exploring:
- Recent innovation in the world of funds
- Trends in PE/VC and hedge funds
- Reacting to new regulatory challenges
- Funds best suited for a Family Office
- Will any of the new and emerging priorities endure post Covid-19?
Confirmed speakers include: Philip Ireland, Partner, Maples; Tom Cochrane, Partner, Walkers; Simon Filmer, Global Lead – Company Formation, Vistra Group; Jeffrey Kirk, Managing Partner, Appleby, and moderated by Simon Gray, Head of Business Development and Marketing, BVI Finance.
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Rose Chapman, a top Compliance and Anti-corruption professional, has been appointed as Principal Tutor and also Compliance and AML Programme Manager for the Financial Services Institute at H. Lavity Stout Community College. Serving at organisations like Australia Mutual Provident, General Electric, Travelport and Willis Towers Watson, Rose has amalgamated an impressive resume boasting 20 years’ experience within leading international corporate environments. Most notably, she served as Financial Conduct Authority Controlled Functions of Compliance Officer (CF10) and Money Laundering Reporting Officer (CF11) at Willis Towers Watson.
Her reputation for developing compliance and anti-money laundering systems and controls by evolution rather than revolution precedes her and her work, which includes her development of training programmes to keep personnel at all levels ahead of the curve on regulatory changes.
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Chapman holds a Master of Law Distinction in International Corporate Governance, Financial Regulation and Economic Law at the Institute of Advanced Legal Studies, University of London and has also earned Distinctions in two Post Graduate Diplomas: Anti-Money Laundering Financial Crime, and Financial Services Regulatory Compliance from the International Compliance Association (ICA).
Her book Anti-money Laundering, a Practical Guide to Reducing Organisational Risk was published in May 2018.
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NICHOLAS BROOKES PROMOTED TO PARTNER IN OGIER'S BVI DISPUTE RESOLUTION TEAM
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Nicholas Brookes, Partner, Ogier
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Nicholas Brookes has been promoted to Partner in Ogier's BVI Dispute Resolution team.
A barrister with many years’ experience in dispute resolution and litigation, Brooks, who is referred to as ‘outstanding’ in Chambers Global 2020, joined Ogier in the BVI in 2014 and since then has worked on a large and varied range of high profile and high-value litigation cases.
He acted, from first instance through to the Privy Council, for the successful claimant in Zorin Khan v Gany Holdings (PTC), which established the proper approach of the Court to determining whether assets are those of the trust or the trustee. He is currently the First Vice President of the BVI Bar Association and has established a bench and bar advocacy program with a former Commercial Court judge, as well as assisting the Bar Association's pro bono clinic in the BVI.
Commenting, Ogier's Head of Dispute Resolution in the BVI, Brian Lacy, said: "Having worked on such high profile cases it has been great to see Nick develop into a real expert in his field with a reputation to match. His promotion further enhances Ogier's exceptional BVI Dispute Resolution team."
BVI Finance is pleased to congratulate Nicholas Brooks on his latest accomplishment!
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Every year, we advise dozens of clients seeking to continue their companies into the BVI. A continuation, known in other jurisdictions as a “re-domiciliation” or “migration” is, according to the BVI Business Companies Act, 2004 (as amended) (the Act), permissible so long as the law of the foreign jurisdiction also permits continuation. However, as experience demonstrates, some jurisdictions are harder to leave than others. This article seeks to demystify the process of continuing a foreign company into the BVI.
Click here to read the full article by Ellie Crespi
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UPCOMING EVENTS
June
BVI Finance Breakfast Forum
Webinar | 17 June | 10:00 a.m
BVI Finance Breakfast Forum
Webinar | 24 June | 10:00 a.m
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