British Virgin Islands

BVI to stage due diligence conference

The British Virgin Islands has announced that its inaugural Due Diligence and Compliance conference entitled ‘Preserving the Integrity of International Business' will be held on March 9-11.The conference, which is being sponsored by the BVI government in conjunction with the financial services sector, is designed to provide industry participants with in-depth information on recent developments in the cross-border fight against ‘white-collar' crime.

Caribbean hotels insurer goes into run-off

The Caribbean Hotel Association Insurance Company Ltd., which hit financial trouble soon after it started, has stopped writing new business after just two and a half years in business. The news comes after many member countries of the Caribbean Hotel Association, for whom the company was specifically set up to insure, failed to put their money where their mouths were and buy insurance from CHAIC.

BVI passes anti-money laundering legislation

Twelve months after a similar law was introduced in the Cayman Islands, the British Virgin Islands, which is home to more than 200,000 foreign companies, became the second Caribbean Dependent Territory to pass wide-ranging anti-money laundering legislation at the behest of the UK government. Bermuda is expected to be next, possibly before the end of the year.

John W. Henry sues Bank of Bermuda

Companies associated with John W. Henry, a futures fund manager with $1.9 billion under management, according to its own figures, is suing its former business partner, the Bank of Bermuda, for $300,000 at Bermuda Supreme Court.

Keith King: ‘Not Fit and Proper’

Isle of Man Financial Supervision Commission vs. Keith Leslie King - Notice of Direction - Isle of Man Financial Supervision Commission - December 5, 1995