From left: Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7), with Minister for Overseas Territories (then Shadow Minister) back in May 2023, in the UK. Part of Premier Wheatley’s recent visit to the UK was a key meeting with the Minister for the Overseas Territories. Photo: GIS

Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) met with the The Right Honourable The Lord Brady of Altrincham and Sarah Champion, Member of Parliament (MP) for Rotherham, among others, while in the United Kingdom recently. Photo: Office of the Premier

While in London, Premier Dr the Hon Natalio D. Wheatley (R7) also had the opportunity to meet with the Speaker of the House of Commons, Rt Hon Sir Lindsay H. Hoyle MP. Photo: Office of the Premier

Premier Wheatley expressed his dedication to this issue during his visit to London, where he engaged in a series of productive meetings with the United Kingdom government, Members of Parliament, and leaders from other Overseas Territories.

The discussions focused on governance reform, the fight against illicit finance, and the shared priorities of the territories.

Engaging & productive discussion with Minister for OTs

At the core of Premier Wheatley’s visit was a key meeting with the Minister for the Overseas Territories, the Rt Hon Stephen J. Doughty MP.

He stated, "We had an engaging and productive discussion, and a communiqué outlining the outcomes of our dialogue will be issued soon."

Wheatley highlighted his participation in the UK-Overseas Territories Illicit Finance Dialogue, which convenes leaders and officials from the Overseas Territories alongside UK government representatives.

The meeting was attended by Baroness Margaret E. Hodge, the UK Government’s Anti-Corruption Champion. During this dialogue, the Premier emphasised the Virgin Islands' longstanding commitment to compliance and engagement with global regulatory bodies such as the Financial Action Task Force (FATF) and the OECD.

He noted, "The Virgin Islands has been a trailblazer in this area, having launched its Beneficial Ownership Secure Search (BOSS) System in 2018. We are now advancing this regime further by implementing the necessary guidance and technology to support legitimate access to beneficial ownership data by early 2026."

Premier invites Baroness Hodge to VI

The Premier underscored the importance of clarity, fairness, and collaboration in defining and applying legitimate interest standards across jurisdictions. Our approach includes safeguards for vulnerable individuals, such as minors or those at demonstrable risk, while supporting the global effort to trace financial flows and combat illicit financial activities.

During the Illicit Finance Dialogue, the Premier invited Baroness Hodge to visit the Virgin Islands, where she can meet members of the financial services industry, engage with regulatory authorities, and experience first-hand the spirit of our community.

While in London, the Premier also had the opportunity to meet with the Speaker of the House of Commons, Rt Hon Sir Lindsay H. Hoyle MP. He engaged with other Parliamentarians, including Lord Brady, Jack Rankin MP, Dr Al Pinkerton MP, and Sarah Champion MP, who each had meaningful discussions on matters important to the Virgin Islands.

"I extend my thanks to Minister Doughty and everyone we engaged with in London for their partnership and their continued commitment to fostering a constructive relationship between the United Kingdom and the Overseas Territories," he remarked.