International Cooperationand the

Financial Services Commission

Dawn J. SmithDirector, Legal & Enforcement Division

Why?

• fostering cooperation

• exchange of information

• banking and financial regulation/supervision

• money laundering

• terrorist financing

• proliferation financing

• corruption

• serious organized crime

• uphold BVI law

• preserve BVI reputation

Competent Authorities(FSCA – s. 32, 33C)

MoU: March 2007

Financial Investigation

Agencyand

Financial Services Commission

MoU: April 2014

Authorities of Inter-Governmental Committee

• Attorney General’s Chambers• BVI Airports Authority• BVI Ports Authority• Department Of Immigration• Department of Trade and Consumer Affairs• Financial Investigation Agency• Financial Services Commission• Her Majesty’s Customs• International Tax Authority• Non-profit Organisation Registration Board• Office of the Director of Public

Prosecutions• Post Office• Royal Virgin Islands Police Force• Virgin Islands Shipping Registry

International Regulators & AuthoritiesFSCA ss. 33C, 33D

• International Organisation of Securities Commissions (IOSCO) (2002)

• Regional Regulatory Authorities (2011)

• European Securities and Markets Authority (ESMA) (2013)

• Office of the Superintendent of Financial Institutions (Canada) (2005)

• Jersey Financial Services Commission (2007)

• Iceland Financial Supervisory Authority (2010)

• United States Bank Regulators (2010)

• Liechtenstein Financial Market Authority (2014)

• National Banking and Securities Commission of the United Mexican States (2006)

• Commissioner of Financial Institutions of Puerto Rico (2005)

Quarter 1 Statistics

Useful Reference(published by the FSC (2007; revised 2013)