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News

May 12th, 2021
$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.

February 26th, 2021
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.

January 8th, 2021
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.

November 15th, 2016
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.

October 28th, 2016
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.

October 27th, 2016
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.

May 23rd, 2014
Govt using FSC as its ‘piggy bank’ – Hon Fraser tells constituents

SEA COW’S BAY, Tortola, VI – With six drawings from the Financial Service Commission in amounts no larger than $5.7ml and the smallest being $2ml from January 10 to March 21 of 2014 the government has been accused of using the Financial Services Commission as its ‘Piggy bank’.

February 19th, 2014
HOA’s poor & ineffective operations peeve members!

ROAD TOWN, Tortola, VI - The public and former Members have already concluded that the House of Assembly of the Virgin Islands is held in low regard following the 2011 general elections that saw some new members elected.

November 25th, 2013
Winners of Money Matters BVI radio quiz awarded

ROAD TOWN, Tortola, VI- Designed to stimulate and test the knowledge of Class 5 and high school students in financial services, Money Matters BVI- the official brand of the Financial Literacy Programme of the BVI Financial Services Commission- recently partnered with ZBVI Radio to conduct its second radio quiz of 2013.

September 17th, 2013
Who will regulate National Health Insurance system?

ROAD TOWN, Tortola, VI – The question of which body will be responsible for regulating the pending National Health Insurance (NHI) system was raised recently on the Speak Your Mind TV show aired on September 14, 2013.

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