Form D Application for Approval of an Authorised Representative

Summary

Form D is the standard BVI Financial Services Commission application form used to seek approval of a proposed Authorised Representative under the Securities and Investment Business Act framework. It is a fillable form rather than a rule, and it collects biographical, employment, ownership and fitness and propriety information to support the Commission's assessment of the individual.

• Personal details: Name, incorporation number if a corporate applicant, date and place of birth, nationality, identification numbers, previous names, addresses and residency history
• Education and memberships: Institutions attended, qualifications obtained, and professional body memberships
• Employment history: Positions held over the past seven years (or longer if relevant), employers, regulators involved, responsibilities, and reasons for leaving each role
• Ownership structure: Details of shareholders and controllers of the applicant, including shareholding percentages and voting rights
• Fitness and propriety questionnaire: A series of yes or no questions covering refusals of approval, dismissals from positions of trust, criminal convictions or investigations, bankruptcy, civil liability findings, and regulatory sanctions against associated entities, with written details required for any yes answer
• Relevant business experience: A statement of whether the applicant or an associated person has practical experience in business requiring authorisation under the Securities and Investment Business Act
• Declaration: A signed declaration by the proposed Authorised Representative confirming the information and documents submitted are true, accurate and authentic

If the applicant is a corporate entity, items covering identity, education, memberships, employment and fitness and propriety must be completed by each director, and at least one director must be ordinarily or habitually resident in the Virgin Islands. The final section is reserved for internal Commission use to record processing and the approval, denial or deferral decision.

Key obligations

• The proposed Authorised Representative must complete and sign the declaration confirming that all information and documents submitted are true, accurate and authentic
• Any yes answer to a fitness and propriety question must be accompanied by full written details attached to the application
• If the applicant is a corporate entity, items 1 to 4 and item 6 must be completed by each director, and one or more directors must be ordinarily or habitually resident in the Virgin Islands
• If the applicant or an associated person has relevant practical experience, a detailed explanation must be provided as a properly marked attachment

Applies to

Proposed Authorised Representatives, Applicants under the Securities and Investment Business Act, Corporate entity applicants and their directors