Form C - Declaration Form for an Exemption from Appointing a Compliance Officer

Summary

This is a standard declaration form used by BVI regulated entities to support an application for exemption from the requirement to appoint a Compliance Officer. A director or senior officer completes and signs the form on behalf of the regulated entity, attesting to the specific grounds on which the exemption is sought.

• Who signs: A director or senior officer of the regulated person, making the declaration on the entity's behalf
• Ground (a): The entity is a Class I, Class II, or Restricted Class II licensee without a physical presence in the Virgin Islands, and is either regulated in another named jurisdiction or is part of a group subject to regulatory supervision by a named supervisory body in a named jurisdiction
• Ground (b): The entity is a Class III or restricted Class III trust licensee, stating its number of employees
• Declaration content: Confirms the information provided is true and correct, and is dated, signed, and includes the declarant's name and address

Key obligations

• The declarant must truthfully complete and sign Form C, providing the entity's name, registered address, applicable licence class, jurisdiction of regulation or supervisory body details (for ground (a)), or number of employees (for ground (b))
• The declaration must be submitted to the Managing Director/CEO of the Financial Services Commission in support of an application for exemption from appointing a Compliance Officer

Applies to

Class I licensees, Class II licensees, Restricted Class II licensees, Class III trust licensees, Restricted Class III trust licensees