Commencement of Trusts Suite of Legislation

The Commission advises that His Excellency the Governor has executed the following

  1. Notice of Commencement 2016 – Legal Notice 47 of 2016.  This Legal Notice appoints 15thSeptember 2016 as the date on which the Trust Companies (Licensing and Supervision) Ordinance 2016 will come into operation
  2. Trust Companies Regulations 2016 – Legal Notice 48 of 2016, which will come into force on 15th September 2016
  3. Notice of Commencement 2016 – Legal Notice 52 of 2016 which appoints the 23rd September 2016 as the date on which the Trust Ordinance 2016 will come into operation

In addition the Commission has executed the Trust Companies Code 2016 – Legal Notice 49 of 2016, which will come into force on the 15th September 2016.

The referenced legislation and subsidiary legislation are  available from the Attorney General’s Chambers and can also be accessed  via the Commission’s legislation web page.

The International Organization of Securities Commissions (IOSCO) continues to address global challenges to securities markets

The International Organization of Securities Commissions (IOSCO) continues to address global challenges to securities markets. The 41st Annual Meeting of IOSCO was held in Lima, Peru  (8 - 12 May, 2016). During that meeting the TCI Financial Services Commission participated in the formal signing ceremony as one of IOSCO's newest Ordinary Members. IOSCO also held its public Annual Conference in Lima focusing on SME financing, investor protection and education, and the opportunities and challenges of new financial technologies (fintech).  Click here for the official media release.

BVI Publishes Beneficial Ownership Details

As has been reported in regional media, the British Virgin Islands has published the exchange of notes and technical protocols agreed with the United Kingdom government relating to beneficial ownership of companies ahead of the Cayman Islands. Click here

Appointment of New Managing Director

Mr. Niguel Streete, formerly Deputy Managing Director of the Grenada Authority for the Regulation of Financial Institutions (GARFIN), has been appointed to the post of Managing Director TCIFSC with effect from February 15, 2016. The contact details for the Managing Director are: email This email address is being protected from spambots. You need JavaScript enabled to view it., telephone number 649-946-5314.

FSC Action Plan: 2012-2016

The Financial Services Commission (FSC) was established in 2001 as an independent statutory body with responsibility for the administration of the regulatory framework for all financial services in the territory.

View Full Action Plan