BVI Financial Services Commission concludes Memorandum of Understanding with European Securities and
Memorandum of Understanding allows BVI Mutual Fund Industry to market in the EU and to EU Investors.
31 May 2013, the British Virgin Islands Financial Services Commission (FSC) announced that the European Securities and Markets Authority (ESMA) approved a cooperation agreement between the FSC and European Union securities regulators.
The agreement was negotiated by ESMA on behalf of EU securities regulators with responsibility for the supervision of alternative investment funds (AIFs), including hedge funds, private equity funds and real estate funds.
This ensures that the BVI Mutual Fund Industry will be able to market its products within the European Union.
The MOU between the FSC and EU securities regulators is further evidence that the FSC remains committed to fulfilling its international obligations relating to information exchange and combating illicit activity that may involve the use of regulated financial services structures. In addition, it demonstrates the recognition and importance of BVI funds in the global funds industry.