New Fees in effect from 1 January, 2011

Tortola – British Virgin Islands – 17 December, 2010 – The BVI Financial Services Commission (the "FSC") would like to remind regulated persons and members of the public that fees applicable under financial services legislation will change with effect from 1 January, 2011. The Financial Services Commission (Fees) Regulations, 2010 (the "Regulations"), which were made by Cabinet on the advice of the FSC were published in the 14 October, 2010 issue of the Virgin Islands Gazette and replace the Financial Services Commission (Fees) Regulations, 2005.

Similarly the Insolvency Practitioners (Amendment) Regulations, 2010 (the "Insolvency Regulations") were also published in the 14 October, 2010 issue of the Virgin Islands Gazette. The Insolvency Regulations replace the Insolvency Practitioners Regulations, 2004. Persons are further reminded of the Financial Services Commission (Securities and Investment Business Fees) Regulations, 2010 which were gazetted in April, 2010.

The Regulations cover application fees, annual licence fees and other fees due under various financial services legislation. The Regulations and copies of all financial services legislation may be accessed at the Commission's website, www.bvifsc.vg.

For further information, please contact:

Corporate Communications
BVI Financial Services Commission
Pasea Estate, Tortola, British Virgin Islands
Tel: (284) 494- 4190
Fax: (284) 494-5016
Email: corpcomm@bvifsc.vg