Financial Services (Exemptions) (Amendment) Regulations, 2021

Summary

This is a short technical amendment to the Financial Services (Exemptions) Regulations, 2007 in the British Virgin Islands. It changes wording and revokes one sub-paragraph within the Schedule to those Regulations, altering the scope of certain exemptions under that framework.

• Paragraph 2(4)(a): The word professional is deleted from this provision of the Schedule (Part I) to the Financial Services (Exemptions) Regulations, 2007.
• Paragraph 6(1)(b): Sub-paragraph (i) of this provision is revoked, removing that specific condition or category from the exemption provision.
• Commencement: The Regulations come into force on a date to be fixed by the Minister via Notice published in the Gazette, not on the date of gazetting or making.

The amendment itself does not create new filing or reporting duties; its effect is to narrow or adjust the wording of existing exemption criteria under the 2007 Regulations, which may change whether particular persons or activities qualify for exemption.

Applies to

Persons or entities relying on exemptions under the Financial Services (Exemptions) Regulations, 2007

Deadlines

• such date as the Minister may, by Notice published in the Gazette, determine: Commencement date of the Financial Services (Exemptions) (Amendment) Regulations, 2021