BVI FSC reminds the industry of filing deadlines and guidelines
On 28 June 2024, the BVI Financial Services Commission (FSC) published Industry Circular 23 to remind all regulated entities of their upcoming filing and submission deadlines. While the provided schedule is a helpful reference, entities are still responsible for timely submissions despite any potential errors or omissions in the schedule.
Due Date | Entity / Licence Type | Filing / Requirement | Submission Channel |
30 June 2024 | Professional Funds, Private Funds, Public Funds and Recognised Foreign Funds. | Mutual Fund Annual Return. | |
10 July 2024 |
| A list of internal audit reports prepared during Q2 2024, with a summary of areas covered by each report. | Banks and other entities under specialised supervision: specialisedsupervision@bvifsc.vg All other entities: prudentialsupervision@bvifsc.vg |
14 July 2024 |
| The names of all funds and licensed entities for which it provides AR Services. | |
15 July 2024 | Banks. | Prudential Returns for Q2 2024. | |
15 July 2024 | Money Services Business licensees – Class A. |
| Check, wire transfer, etc. |
31 July 2024 | Incubator Funds. | Semi-annual report for the period ending 30 June 2024. | |
Within six months of the financial year-end | All licensees and funds except where exempted. | Audited Financial Statements (must be accompanied by all relevant prescribed documents). | Hard copy and/or electronic copy via financialstatements@bvifsc.vg |
Within six months of the financial year-end |
| Financial Statements (not required to be audited). | Hard copy and/or electronic copy via financialstatements@bvifsc.vg |
* Class A I or Class II trust licensee that does not hold customer monies or has determined that due to its nature, size, and complexity, it does not require an internal audit function and is not required to file a list of internal audit reports.
BVI FSC’s Circular 23 can be found here.
