British Virgin Islands-Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector Volume II-Detailed Assessment of Observance of Standards and Codes
April 5, 2004
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This report provides an assessment of the British Virgin Islands’s (BVI) compliance with the Basel Core Principle for effective banking supervision. The BVI has the preconditions for effective banking supervision. It has specific legislation governing international cooperation and mutual legal assistance. The BVI has designed its antimoney laundering (AML)/combating the financing of terrorism supervisory legislation to apply broadly to banks and trust companies, insurance business, and parallel areas. The financial services commission is responsible for both prudential supervision and ensuring compliance with AML measures.
Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Financial institutions, Financial services, Insurance, Insurance companies, Mutual funds
Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), beneficial owner, business organization, business plan, Caribbean, compliance officer, CR, Global, Insurance, Insurance companies, ISCR, legal power, managing director, mutual fund, Mutual funds
Pages:
129
Volume:
2004
DOI:
Issue:
093
Series:
Country Report No. 2004/093
Stock No:
1VGBEA0022004
ISBN:
9781451840117
ISSN:
1934-7685
