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On April 1, 2025, the British Virgin Islands Financial Services Commission (“BVI FSC“) published its Q1/2025 Newsletter, sharing key updates on regulatory changes across the financial services sector. The newsletter reflects the BVI FSC’s continued focus on strengthening oversight, updating legislation, and staying engaged with fast-growing areas like virtual assets. Here’s a brief main points covered.

The BVI FSC’s Compliance Inspection Unit (“CIU“) is rolling out a major round of onsite inspections starting in 2025 and running through the first quarter of 2026. These inspections will focus on higher-risk sectors like Trust and Corporate Service Providers (“TCSPs“), Investment Businesses, and Virtual Asset Service Providers (“VASPs“). The aim is to assess how well firms are managing internal controls, complying with AML/CFT/CPF rules, conducting internal audits, and training their staff.

Regulatory Impact

• At least 45 entities
• Key Inspection …..