BVI Finance Response to The Commission of Inquiry and Arrest of Premier

You may already have received news of the recent arrest of the Premier in the US and the separate issuance of a recent Commission of Inquiry report on 29 April 2022, a copy of which may be downloaded here British Virgin Islands Commission of Inquiry Report | Government of the Virgin Islands. In brief, the Report called into question methods of decision making by elected officials (usually, Ministers) in the absence of any criteria, without reasons or fear of reprisals. Amongst the recommendations for reform was one to address such shortcomings by reversion to direct rule by the Governor.

The BVI Finance, being the regulatory authority of the financial industry in the BVI, has issued the statement below which states that neither event is directly related with the financial services industry. In as far as Portcullis is aware, there does not appear to be any allegations of mismanagement in the financial services sector. The BVI FSC has also issued a further statement yesterday in its April newsletter at https://www.bvifsc.vg/library/bvi-fsc-newsletter-april-2022 affirming that The Commission of Inquiry has described the Commission as “an example of a statutory
board which has policies in place to promote good governance” and consequently did not see the “need to call for oral evidence on” its activities.

We shall be monitoring the situation very closely and shall provide updates as and when it is received.

In the interim, please do not hesitate to contact your relationship manager directly should you have any concerns.

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PORTCULLIS GROUP
www.portcullis.co

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英屬維京群島財政部回應調查委員會及總理遭逮捕新聞

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貴公司或許已聽聞下列兩則新聞：總理最近在美國遭逮捕及調查委員會最近在2022年4月29日另出具一份報告，該報告登載於British Virgin IslandsCommission of Inquiry Report | Government of the Virgin Islands。簡言之，該報告對於民選官員(通常指部長)在無任何標準、不具理由、亦不畏報復下逕行決策的方法表示懷疑。在眾多改革提議中，有一項乃建議回歸由總督直接統治，藉以因應上述缺點。

維京群島財政部(BVI Finance)身為維京群島金融產業的主管機關，已發出下列聲明，聲明兩事件皆不與金融服務產業直接相關。就保得利所知，似乎並無任何金融服務業不當管理的說詞。維京群島金融服務委員會昨日在其四月份公務通訊(https://www.bvifsc.vg/library/bvi-fsc-newsletter-april-2022)中發出進一步聲明，申明調查委員會已稱金融服務委員會為「備妥政策提高良好治理的一個法定委員會典範」，因此看不出對其公務業務有「要求口供證據的必要」。

本公司將密切注意情勢發展，並提供已知悉的最新資訊。

於此期間， 貴公司若有任何疑慮，請直接洽詢 貴公司的關係經理。

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保得利集團
www.portcullis.co