|
| |
FSC CEO KENNETH BAKER TALKS ABOUT BVI'S PROGRESS IN MITIGATING MONEY LAUNDERING
|
|
|
|
|
| |
|
The BVI’s progress in mitigating money laundering was highlighted during the LIVE broadcast of ‘What is Money Laundering?’, an interview with Kenneth Baker, Managing Director and CEO of the British Virgin Islands Financial Services Commission (FSC).
Mr. Baker asserted that the BVI, like other financial services jurisdictions, is already an active player in the fight against money laundering and other financial crimes, and in so doing, has made significant progress in legislation over the years.
“The BVI has made significant progress, but we have some ways to go. I anticipate that by the end of the year, the legislative process [for the anti-money laundering regime] will be complete.”
Click here to read more.
|
|
|
|
|
| |
THE EASTERN CARIBBEAN COURT OF APPEAL CONTINUES PROTECTION FOR NAM TAI SHAREHOLDERS
|
|
|
|
|
| |
|
The Eastern Caribbean Court of Appeal has delivered two decisions that have continued the protection afforded by the BVI Commercial Court to shareholders in Nam Tai Property Inc, a BVI company whose shares are listed on the New York Stock Exchange.
On 10 November 2021 the same Court of Appeal dismissed applications by Nam Tai and Greater Sail for a stay of the meeting ordered for 30 November pending appeals to the Privy Council and alternatively to change the record date for the meeting from 15 March 2021 as set by Jack J to a date in November.
Click here to read more.
|
|
|
|
|
| |
JOIN GLOBAL CURRENTS VIRTUALLY
|
|
|
|
|
| |
|
The name Robert Mathavious is synonymous with BVI Financial Services. Without his vision and leadership, the British Virgin Islands (BVI) would not have risen to be a leading jurisdiction in financial services. To celebrate his legacy and look ahead at fresh perspectives on the BVI's international business and financial services industry, join us at the Global Currents Conference on 17-18 November 2021.
Industry professionals will have the opportunity to learn and engage with leading experts in global finance with keynote speakers such as Dr. Mathavious; Managing Director and CEO of BVI FSC, Kenneth Baker; Premier of the Virgin Islands, Hon. Andrew A. Fahie; Former Managing Partner, Harneys, Michael Riegels; and Partner at King & Wood Mallesons, Eli Han.
Panel discussions will feature perspectives from BVI and international professionals emerging trends in key markets; global tax and regulation policy in an era of nationalism; talent management; Global Britain, and much more.
We invite you to join us virtually at a fee of $500.00, for what promises to be a one of a kind conference experience as we honour the legacy of Dr. Robert Mathavious and begin to chart the future for a sustainable financial services industry.
To learn more about speakers and panels visit the conference site where you can register today. Registration for virtual attendance ends on Wednesday, November 17 at 4:00PM.
|
|
|
|
|
| |
BVI INSOLVENCY EXPERTS ASSERT: "INSOLVENCY DOES NOT MEAN THE END OF A COMPANY"
|
|
|
|
|
| |
|
“Insolvency does not always mean the end of a company” - Insolvency experts shared this, along with the core aspects of insolvency during the ‘Debtor Focused Insolvency Webinar’, the third webinar in the BVI Insolvency 101 series, jointly hosted by RISA BVI and BVI Finance.
According to Mungo Lowe of Forbes Hare, once a company is insolvent, it triggers a series of events where normal rules are disapplied, and a statutory scheme comes down, by which a liquidator is appointed for the purpose of realizing, taking control of the company’s assets, realizing those assets, and then distributing the assets in accordance to the statutory scheme.
Click here to read more.
|
|
|
|
|
| |
SNAPSHOT: REGISTRATION OF CHARGES AND PRIORITY OF SECURITY IN BVI LAW
|
|
|
|
|
| |
|
A security document does not need to be filed or recorded with any governmental or regulatory authority, agency or court in the BVI in order to ensure the legality, validity or enforceability of such security document creating the security interest.
However, in order to ensure the preservation of the priority of such security interest, particulars of such security interest should be registered in the public Register of Registered Charges of the BVI company granting such security interest, by submitting an application in the approved form to the Registrar of Corporate Affairs in BVI pursuant to Section 163 of the BVI Business Companies Act, 2004 (the BCA). The effect of such a Section 163 filing is to create priority of that security interest over any subsequently registered or unregistered security interest.
Click here to read more.
|
|
|
|
|
| |
WHAT ARE THE ADVANTAGES OF CHOOSING THE BRITISH VIRGIN ISLANDS (BVI) AS THE SEAT OF ARBITRATION?
|
|
|
|
|
| |
|
In this special episode of Arbitration Life, Janette Brin, MBA and Hana Doumal sit down with Nicholas Burkill at BVI Arbitration Week. Nick is the BVI office head of dispute resolution, responsible for members of Ogier's dispute resolution team based in the BVI.
In this interview, Nick discusses his role as the Chair of the BVI Arbitration Group, his experience as a litigator and arbitration lawyer in the BVI, and advice for students and young lawyers who are thinking of pursuing a career as a litigator and arbitration lawyer.
Click here to watch the interview.
|
|
|
|
|
| |
BVI CORPORATE VEHICLES POISED TO ACCOMMODATE INVESTMENT IN EAST AFRICA
|
|
|
|
|
| |
|
BVI’s viability for scaling East African businesses was a major part of discussions during the recent East Africa CxO Roundtable, hosted by African Review and BVI Finance.
The webinar’s theme: “Facilitate Trade and Investment While Mitigating Risks” turned conversations towards how IFCs like the BVI, can serve as a conduit for development and finance in the East Africa region, especially with the commencement of the African Continental Free Trade Area (AfCFTA).
Click here to read more.
|
|
|
|
|
| |
BVI DECRYPTS THE LEGAL STATUS OF CRYPOTASSETS
|
|
|
|
|
| |
|
In Philip Smith and Jason Kardachi (in their capacity as joint liquidators) v Torque Group Holdings Limited, the BVI Commercial Court had to determine how cryptoassets should be characterised under BVI law and it also had to consider how such assets should be treated by a liquidator in an insolvent winding up.
Torque operated a Singaporean run cryptocurrency trading platform offering various crypto-related services. The majority of Torque’s cryptoassets were held in a wallet provided by Binance, an exchange located in Cayman (referred to in the judgment as the "Tran account"). Many customers had "user trading wallets" that allowed "access" to these assets by placing orders on Torque’s customer webpage/application. Other customers had "personal user wallets", which were wallets provided by Torque but which contained just the customers’ own cryptoassets and which they could deal with directly.
Click here to read more.
|
|
|
|
|
| |
HOW BVI FOSTERS ENTRPRENEURSHIP WITH ITS FINTECH REGULATORY SANDBOX
|
|
|
|
|
| |
|
The last year has shown how truly dependent we all are on smooth international supply chains and the business structures that enable frictionless, cross-border trade. Simon Gray is Global Head of Business Development and Marketing for BVI Finance; he explains how the British Virgin Islands has been helping to create our modern global village for the last 36 years, and how the BVI is continuously updating and upgrading its offering to foster entrepreneurship.
You can also watch the second half of this conversation with Simon Gray, where he discusses the ways the BVI is innovating in funds and trusts.
Click here to read more.
|
|
|
|
|
| |
|
We are getting ready for that exciting time of the year when we celebrate the BVI’s most dynamic industry and recognize the accomplishments of our leaders. This year’s Financial Services Week 2021 will be celebrated from Saturday 20th November 2021 to Thursday 25th November 2021 under the theme ‘Celebrating our financial services ecosystem through effective regulation’. #FSW2021
To register for the upcoming events please see below:
|
|
|
|
|
| |
O’NEAL WEBSTER IS RECRUITING A 4 TO 6 YEAR PQE ATTORNEY FOR ITS CIVIL/COMMERCIAL LITIGATION DEPARTMENT
|
|
|
|
|
| |
|
The successful candidate will be keen to develop their professional experience and training, with an emphasis on commercial matters, before the BVI Commercial Court. A background involving some exposure to complex commercial and/or business disputes is preferred although there is no requirement that past experience will be exclusively in this area.
The role will involve significant and in-depth legal research and drafting, especially of written submissions, and witness statements, quite often to tight deadlines for demanding professional clients.
Interested candidates may submit their résumés to the Managing Partner at recruit@onealwebster.com.
|
|
|
|
|
| |
|
|
|
UPCOMING EVENTS
BVI Insolvency 101 Webinar
16th November | 1:00 p.m.
|
|
|
|
|
|