Industry Circular 9: FATF AML/CFT Compliance Due Diligence - October 2025
The British Virgin Islands Financial Services Commission issued Industry Circular 9 (2026) advising that FATF issued its October 2025 public statements identifying jurisdictions with strategic AML/CFT deficiencies. The Commission directs all persons subject to the Anti-Money Laundering Regulations, 2008 and the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008 to apply appropriate due diligence measures when dealing with customers or transactions connected to FATF-identified jurisdictions. For jurisdictions under increased monitoring, standard enhanced CDD applies; for high-risk jurisdictions subject to a FATF call for action, enhanced CDD and countermeasures are required.
Launch of Legitimate Interest Transactions and Request to Inspect BO Register
The BVI Financial Services Commission announces the launch of Legitimate Interest (LI) transaction functionality on 1 April 2026, establishing new timelines for BO Register inspections: Registered Agents have 5 days to file a Notice of Objection, a further 5 days to file an Application Opposing Disclosure, 3 days to file Intent to Appeal, and 21 days thereafter to file a Notice of Appeal. Filing links for all registers are extended to 31 May 2026. The maximum total Transitional Penalty per entity is $1,400 (USD 600 for months 1-3, USD 800 for months 4-6), with an additional filing fee of USD 125.00 applicable after 31 March 2026.
Industry Circular 13 of 2026 - Early Office Closure: Flash Flood Watch
The British Virgin Islands Financial Services Commission issued Industry Circular 13 of 2026 on April 13, 2026, announcing an early office closure due to a Flash Flood Watch. The circular serves as an administrative notice to stakeholders regarding temporary disruption to the regulator's operations. No compliance obligations or regulatory changes are imposed by this notice.