The British Virgin Islands Ministry of Finance published a release on the RISA BVI & South Square Conference 2025, where Honourable Lorna G. Smith, OBE set out the Territory’s strategic response to the Financial Action Task Force (FATF) grey listing. She outlined a plan for the financial services sector focused on innovation and strengthening regulatory frameworks, and stated an expectation of achieving removal from the FATF grey list within two years. Held at Peter Island Resort, the conference brought together insolvency and restructuring professionals to discuss cross-border recognition issues, including the treatment of solvent liquidations and approaches to proceedings outside a company’s place of incorporation, with perspectives from key common law jurisdictions. The event was co-chaired by Tracy Cook (RH Restructuring) and Toby Brown (South Square) and concluded with a keynote by Hilary Scarlett of Scarlett & Grey, and was positioned as a forum for the Government of the Virgin Islands to engage with international partners on global restructuring standards.
Ministry of Finance (British Virgin Islands) 2025-06-18
British Virgin Islands Ministry of Finance outlines strategy to seek removal from the FATF grey list within two years
The British Virgin Islands Ministry of Finance outlined its strategic response to the Financial Action Task Force grey listing at the RISA BVI & South Square Conference 2025, aiming for removal within two years. The conference, held at Peter Island Resort, focused on cross-border recognition issues and was a platform for engaging with international partners on global restructuring standards.