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News
VI freezes estimated US $400M in assets linked to Russia
PASEA ESTATE, Tortola, VI - The [British] Virgin Islands has begun taking all requisite steps to ensure that it adheres to its international obligations as an Overseas Territory of the United Kingdom relating to sanctions against Russia.
Dr Mathavious always strived to be 'top of his game' - Mrs Kharid T. Fraser
SCRUB ISLAND, VI – Dr Robert A. Mathavious, regarded as the father of VI’s financial services sector has been hailed as a man who always strived to be at the top of his game and “Being the best” according to Mrs Kharid T. Fraser, the Deputy Chair of the FSC Board of Commissioners.
FSC now in hands of ‘younger, well prepared & talented team’- Dr Mathavious
WICKHAM'S CAY II, Tortola, VI – Retried former Managing Director and Chief Executive Officer (CEO) of BVI Financial Services Commission (FSC) Dr Robert A. Mathavious says as he comes to the end of the road of his decades' long financial career, he does so with the knowledge that the sector is in capable local hands.
Some VI banks are treating customers ‘horrible’ - Skelton-Cline
BAUGHER'S BAY, Tortola, VI – Radio Talk show Host Claude O. Skelton-Cline has called on the banking sector in the VI to improve their customer service, which he says is resulting in ordinary citizens suffering as a result of the poor service from these institutions.
$2.3M collected from 7% money transfer services fee so far- Premier Fahie
DUFF'S BOTTOM, Tortola, VI- Figures released during the Eighth Sitting of the Third Session of the Fourth House of Assembly (HoA) at Save the Seed Energy Centre in Duff's Bottom on May 11, 2021, by Premier and Minister of Finance Honourable Andrew A. Fahie (R1), shows that the 7% fee on money transfer services in the Virgin Islands has brought in over $2.3 Million to government.
Kharid T. Fraser appointed Deputy Chairman of FSC Board of Commissioners
PASEA ESTATE, Tortola, VI- The Cabinet of the Virgin Islands on February 17, 2021, decided that Robin F. Gaul be appointed Chairman of the Financial Services Commission’s Board of Commissioners and that former Accountant General Mrs Kharid T. Fraser being appointed Deputy Chairman.
Dr. Robert A. Mathavious formally retires as CEO of BVI FSC
ROAD TOWN, Tortola, VI - Following a long career of over thirty-five years in public service, Dr. Robert A. Mathavious OBE, has formally retired from the BVI Financial Services Commission as both its Managing Director and Chief Executive Officer effective 31 December 2020.
Mossack Fonseca slapped with heaviest fine ever by FSC
ROAD TOWN, Tortola, VI- In what is regarded as the heaviest fine ever issued by the Financial Services Commission (FSC), trust company Mossack Fonseca & Co (VI) was fined $440,000 for what Government has described as its contravention of numerous sections of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI Regulatory Code.
MF confirms VINO story on concerns of survivability of NBVI!
ROAD TOWN, Tortola, VI- It was our newsroom that again first and accurately reported in an article on October 27, 2016 that the Financial Services Commission (FSC), the state regulators, had raised serious concerns about the survival of the National Bank of the Virgin Islands (NBVI) and in particular its unsustainable Non-performing Loan Portfolio.
Serious concerns raised by FSC about survival of NBVI!
ROAD TOWN, Tortola, VI- The National Bank of the Virgin Islands (NBVI), which has the Government as its only shareholder, continues to be an institution of concern by the Financial Services Commission (FSC), the state regulator of Banks and the Financial Services industry.
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