Regulatory Blog

On 19 June 2025, the UK published the Sanctions (EU Exit) (Treasury Debt) Regulations 2025, which take effect on 10 July 2025. These regulations, made under the Sanctions and Anti-Money Laundering Act 2018, introduce targeted exemptions to UN-imposed asset freezes, allowing payments related to Treasury borrowing, including government gilts. This ensures key Treasury transactions can proceed despite existing sanctions.

On 23 June 2025, the Government of the Virgin Islands introduced a policy governing access to the Register of Beneficial Ownership for BVI Business Companies and Limited Partnerships. This initiative aligns with international standards for corporate transparency, anti-money laundering, counter-terrorism financing, and counter-proliferation financing, while safeguarding individual privacy.

On 20 June 2025, the Government of the Virgin Islands published a Proclamation bringing the Proceeds of Criminal Conduct (Amendment) Act, 2025 into force on 6 June 2025. This legislation introduces enhanced measures to combat money laundering, strengthen financial transparency, and facilitate international cooperation.

On 17 June 2025, the UK announced a new package of sanctions to weaken Russia’s economy and military. Unveiled during the G7 Summit in Canada, these measures aim to counter Vladimir Putin's continued aggression in Ukraine. They target key sectors like finance, military, and energy, underlining the UK’s commitment to defending Ukraine and upholding international security.

The United Kingdom introduced significant amendments to the Syria sanctions framework. Below, is a summary of the main changes and their broader implications.

On 30 May 2025, the BVI FSC issued an update under Industry Circular 22 of 2025, extending the filing deadline for certain statutory requirements under the BVI Business Companies Act (Revised Edition 2020). In addition, on 4 June 2025, the BVI FSC issued Industry Circular 23 of 2025, extending the filing deadline for certain statutory requirements under the BVI Limited Partnership Act (Revised Edition 2020).

On 20 May 2025, the UK introduced a sweeping sanctions package aimed at weakening Russia’s military and economic capabilities amid its ongoing war in Ukraine. This move underscores the UK’s commitment to international law and peace.

European Union has issued significant and far-reaching sanctions and restrictive measures on Russia and the Russian Economy. View a table of all the sanctions here

On 15 April 2025, the BVI Financial Services Commission issued Circular 15, an important update regarding the court-ordered restoration process. This circular outlines temporary measures and key procedural changes designed to streamline filings while the permanent system is finalised.

Following the invasion of Ukraine by Russia, the UK Government, alongside the member states of the European Union, the United States of America and other global stakeholders issued significant new sanctions. View a table of all the sanctions here

On 24 April 2025, the BVI Financial Services Commission issued Circular 16 updating the industry practitioners regarding Beneficial Ownership filings, Registers of Members, and restoring struck off or dissolved companies.

On 1 April 2025, the British Virgin Islands Financial Services Commission published its Q1 2025 newsletter, outlining several pivotal updates aimed at bolstering oversight and compliance in the financial services industry.