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International Cooperation and the Financial Services Commission

International Cooperation and the Financial Services Commission. Dawn J. Smith Director, Legal & Enforcement Division. Why?. fostering cooperation exchange of information banking and financial regulation/supervision money laundering terrorist financing. proliferation financing

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International Cooperation and the Financial Services Commission

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  1. International Cooperationand the Financial Services Commission Dawn J. Smith Director, Legal & Enforcement Division

  2. Why? • fostering cooperation • exchange of information • banking and financial regulation/supervision • money laundering • terrorist financing • proliferation financing • corruption • serious organized crime • uphold BVI law • preserve BVI reputation

  3. Competent Authorities(FSCA – s. 32, 33C) MoU: March 2007 Financial Investigation Agency and Financial Services Commission MoU: April 2014 Authorities of Inter-Governmental Committee • Attorney General’s Chambers • BVI Airports Authority • BVI Ports Authority • Department Of Immigration • Department of Trade and Consumer Affairs • Financial Investigation Agency • Financial Services Commission • Her Majesty’s Customs • International Tax Authority • Non-profit Organisation Registration Board • Office of the Director of Public Prosecutions • Post Office • Royal Virgin Islands Police Force • Virgin Islands Shipping Registry

  4. International Regulators & AuthoritiesFSCA ss. 33C, 33D • International Organisation of Securities Commissions (IOSCO) (2002) • Regional Regulatory Authorities (2011) • European Securities and Markets Authority (ESMA) (2013) • Office of the Superintendent of Financial Institutions (Canada) (2005) • Jersey Financial Services Commission (2007) • Iceland Financial Supervisory Authority (2010) • United States Bank Regulators (2010) • Liechtenstein Financial Market Authority (2014) • National Banking and Securities Commission of the United Mexican States (2006) • Commissioner of Financial Institutions of Puerto Rico (2005)

  5. Quarter 1 Statistics

  6. Useful Reference(published by the FSC (2007; revised 2013)

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