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UK opens inquiry to review relations with VI, other OTs
WESTMINSTER, London, UK - The United Kingdom’s (UK) House of Commons’ Select Committee on Foreign Affairs has announced a formal inquiry on future of UK Overseas Territories (OTs) after the protestations that erupted following a decision to have territories such as the Virgin Islands (VI), establish public registers for companies with beneficial ownership.
2 Prime Ministers ousted over offshore accounts in BVI
ROAD TOWN, Tortola, BVI- The British Virgin Islands (BVI), through the BVI Finance Centre, released a report earlier this year which claimed that the BVI supports some 2 million jobs globally through its legitimate offshore regime.
Judge all financial centres on the same criteria- E. Benito Wheatley
ROAD TOWN, Tortola, VI- With the Virgin Islands (VI) many times unfairly labelled as a “tax haven” and demonised by the international media and certain developed countries that are also financial services jurisdictions, BVI London Office Director and United Kingdom/European Union Representative Mr E. Benito Wheatley has called for a level playing field among offshore and onshore international finance centres.
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.
VI snubbed from anti-corruption summit in London
ROAD TOWN, Tortola, VI- On the heels of the Panama Papers and the Virgin Islands and the international attacks on the Virgin Islands’ financial services industry, it has come as a major surprise that the Virgin Islands, along with Panama, was not invited to the first worldwide anti-corruption summit in London this week.
We must ensure VI doesn't harbour the ethically challenged - Dr Robert A. Mathavious
ROAD TOWN, Tortola, VI- Chairman and CEO of the BVI Financial Services Commission (BVIFSC) Dr Robert A. Mathavious said the territory must ensure it does not become a haven for the ethically challenged.
British PM Cameron benefitted from offshore financial industry
CNN
David W.D. Cameron and his wife, Samantha, profited from shares they had in a Panamanian-based trust set up by his late father, the British Prime Minister told CNN affiliate ITV News in an exclusive interview.
Fmr PS Willock takes on hostile BBC journalist in defence of VI Financial Services
ROAD TOWN, Tortola, VI- With the recent Panama Papers leak causing a shakeup in Governments across the globe and much negative attention being directed to the Virgin Islands and other financial services jurisdiction in the region, a private citizen and publisher of Virgin Islands News Online has come out in strong defence of one the territory’s main economic pillars, even while Government and other stakeholders remain silent.
Protesters tell embattled Iceland PM to ‘go to Tortola’
ROAD TOWN, Tortola, VI- Angry protesters descended on the streets of Iceland’s capital, Reykjavik on April 4, 2016, outraged by their Prime Minister’s alleged offshore accounts in the Virgin Islands that were brought to light in the so-called Panama Papers.
Iceland's PM resigns over offshore company linked to VI
ROAD TOWN, Tortola, VI- The Prime Minister of Iceland has resigned following massive protests in the wake of the Panama Papers investigation which revealed how the world's wealthy avoid tax.
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