Simon Schilder, Michael Killourhy, Tim Clipstone, Nicholas Plowman (Lexology): Annual return reporting requirements for all fiduciary services licensees (September 9, 2021)

Simon Schilder, Michael Killourhy, Tim Clipstone, and Nicholas Plowman, of Ogier, have made available for download their article “Annual return reporting requirements for all fiduciary services licensees”, published on Lexology. The article begins as follows:

The Financial Services (Prudential and Statistical Returns) (Amendment) Order 2021 came into force on 15 February 2021.

The British Virgin Islands Financial Services Commission has introduced new annual return reporting requirements for certain categories of licensees, including:

– trust companies;

– investment managers or investment advisors; and

– fund administrators.

Licensees caught by these new regulatory requirements are now required to prepare and submit an annual return, together with an anti-money laundering and countering the financing of terrorism return (an AML/CFT return).

Click here to see the full article: “Annual return reporting requirements for all fiduciary services licensees”

Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.