A central focus of both forums was the new Beneficial Ownership (BO) regime, emphasising the FSC’s role in maintaining accurate and up-to-date BO information. Discussions covered data transparency, operational efficiency, and regulatory compliance, providing vital insights to industry stakeholders.

Held on 16 January 2025, the Hong Kong forum attracted 120 stakeholders from across the Asia-Pacific region. Presentations covered new BO filing obligations, legislative changes, and operational procedures. Managing Director and CEO Kenneth Baker reiterated the FSC’s dedication to strengthening ties with Asia, describing Hong Kong as a crucial hub for financial services.

Key speakers included Deputy Managing Directors Brodrick Penn and Glenford Malone, alongside Senior Application Developer Siyeeda Brewley. Live demonstrations of the BO platform were particularly well received, increasing confidence in its functionality. Additionally, one-on-one meetings with industry representatives provided valuable feedback on regional challenges and opportunities.

Following the Hong Kong event, the delegation visited London for a Round Table discussion on 20 January 2025. With over 24 participants from the trust, corporate, and legal sectors, the event provided further insights into the BO platform and regulatory updates.

Mr Baker reaffirmed the FSC’s commitment to supporting industry players, encouraging open dialogue and engagement. The event initiated productive discussions, with attendees offering feedback and seeking clarity on compliance expectations.

For more information, the BVI FSC’s news release can be found here.