PRESS RELEASE 6 August
2007
Commission signs MOU with BVI Financial Services
Commission
The Jersey Financial Services Commission (the “Jersey
FSC”) and the British Virgin Islands Financial
Services Commission (the “BVI FSC”)
have signed a memorandum of understanding (“MOU”)
that will further co-operation between the two regulatory
bodies.
The MOU establishes a formal basis for co-operation, including
the exchange of information and investigative assistance.
Such collaboration should help to protect investors and depositors
and to promote the integrity of financial services markets
in Jersey and the British Virgin Islands.
John Harris, Director General of the Jersey FSC, said, “I
am delighted that we have been able to conclude formal arrangements
for sharing regulatory information with the British Virgin
Islands Financial Services Commission. A number of finance
industry firms have a presence in both jurisdictions and this
Memorandum of Understanding will ensure that where regulatory
information needs to be exchanged it can be done in a rapid
and efficient manner.”
Robert Mathavious, Managing Director and Chief Executive
Officer of the BVI FSC, said, “As leading international
finance centres, Jersey and the BVI have cooperated formally
and informally on regulatory matters over a number of years.
I am delighted that this Memorandum of Understanding will
enable us to work more closely together to the benefit of
both of our regulatory regimes. For the BVI FSC, the Memorandum
is a further sign of our commitment towards effective international
cooperation that builds our capacity as a world-class jurisdiction.
“The business communities in the BVI and Jersey already
work closely together in many ways. The Memorandum of Understanding
will provide them with further assurance of being able to
rely on high quality regulation in both jurisdictions.”
- Ends -
For further information please contact: -
John Harris
Director General
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822011
Fax: + 44 (0) 1534 822001
Email: j.harris@jerseyfsc.org
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