Premier and Minister of Dr the Honourable Natalio D. Wheatley (R7), has confirmed that his administration has yet to receive an official copy of a letter purportedly sent by United Kingdom (UK) Members of Parliament (MPs) concerning the Territory's Open Register of Beneficial Ownership of Companies. Photo: YouTube

Premier Dr the Honourable Natalio D. Wheatley (R7) has slammed misleading narratives being pushed by certain UK parliamentarians and media houses in the United Kingdom. Photo: Britannica

UK MPs, including Andrew J.B. Mitchell, left, and Joseph E. Powell, right, have urged the VI to adopt fully open registers to prevent corruption and money laundering. Photo: Internet Source

Opposition Member Hon Myron V. Walwyn (R6) wanted to know why the Premier had not convened an informal meeting of the House of Assembly to discuss the UK MPs letter’s potential impact on the financial services sector. Photo: YouTube

Speaking in the House of Assembly during its February 13, 2025, session, Premier Wheatley told members, “I have not received a letter. I checked every email, and I still haven’t seen this letter which was being spoken about."

The letter, widely circulated online, was reportedly published on the social media platform X (formerly Twitter) and while the Premier acknowledged its public availability (publicly), he maintained that his administration was still verifying whether it was ever formally dispatched to his Office.

"The person taking the lead on this matter is the director of the London Office, Ms Tracey Bradshaw; She is verifying whether the letter was sent physically and has not yet arrived or in what form it was meant to be provided to me.”

VI has 'strong track record of cooperation'

The letter from UK MPs forms part of a broader wave of scrutiny directed at the Virgin Islands' financial services sector. Media outlets in the United Kingdom have recently published critical reports alleging that the VI facilitates illicit financial activities but Premier Wheatley strongly refutes these claims, emphasising the jurisdiction’s track record of cooperation with UK law enforcement agencies.

UK MPs, including Andrew J.B. Mitchell and Joseph E. Powell, have urged the VI to adopt fully open registers to prevent corruption and money laundering.

Mitchell, a former development minister, accused the VI of helping criminals launder illicit funds, stating, “This is nothing other than a shameful bid to continue to manage stolen funds and assist in money laundering from sources close to the sex trade and the drugs trade.”

He added, “If the BVI wishes to travel under the British rule of law, under our flag, and under our monarch, they must also accept our values.”

But, according to Premier Wheatley, "UK law enforcement agencies have repeatedly confirmed the Virgin Islands' strong track record of cooperation. This was even verified in oral evidence provided before the UK Foreign Affairs Committee on the UK Sanctions Strategy on February 4, 2025.”

Citing the testimony of financial services professionals during that hearing, the Premier said, "If you speak to people at the National Crime Agency, the Serious Fraud Office, or other relevant agencies, they will tell you that whenever we want information from those jurisdictions and request it under the exchange of notes, we get that information."

He added that this statement directly contradicted misleading narratives being pushed by certain UK parliamentarians and media reports.

Potential impact

During the session, Opposition Member Hon Myron V. Walwyn (R6) queried the Premier why the government had not convened an informal meeting of the House of Assembly to discuss the letter’s potential impact on the financial services sector.

According to the de facto leader of the ‘Alliance’ within the opposition ranks, "The financial services sector, as the Premier has indicated in this House, is the bread and butter of the territory; We have MPs from the administrator of the BVI, the United Kingdom, fighting against the financial services sector, and weeks after authenticating the letter, no response via letter or contact has been made with the MPs. I find that mind-boggling.”

In response, Premier Wheatley reiterated that his administration was taking measured steps, adding, "....rest assured, we will write a carefully crafted response to those MPs to let them know that what they have characterised of the BVI is far from the truth.”

Further defending the government's approach, Premier Wheatley noted that it had responded to related media reports, including an article in The Guardian he reminded, "The article was responded to, but as it pertains specifically to this letter, we’re still verifying in what form it was supposed to be delivered to me.”

London VI All-Party Parliamentary Group

To counter misinformation and strengthen engagement with UK policymakers, the Premier also revealed plans to re-establish the BVI All-Party Parliamentary Group (APPG) in London.

"This group will serve as a direct channel for engagement with UK parliamentarians, ensuring that they are well-informed and positioned to provide a knowledgeable and supportive voice for the Virgin Islands," he explained.

Additionally, government, he said, is finalising a consultancy engagement to appoint a public relations firm to safeguard the territory’s reputation and develop a strategic communications approach centred on financial services.

Additionally, he also proposed the establishment of a parliamentary committee dedicated to financial services matters, with Hon Lorna G. Smith OBE (AL) and Hon Marlon Penn (R8) expected to play key roles.