BVI FSC's New External Relations Unit Launched

BVI FSC’s New External Relations Unit Launched

Tortola, British Virgin Islands - 22 June 2023 - The Board of Commissioners, along with the Executive Team at the BVI Financial Services Commission (“the Commission”), in line with the Commission’s 2022 - 2024 strategic objectives, which call for a reconstruction of the frequency, modes, and priority placed on communication with industry partners and other audiences, has launched an External Relations Unit. External Relations operates under the Policy Development and External Relations Division and absorbs what was previously known as Corporate Communications, consolidating three main Commission functions: communications, media monitoring, and financial education. 

Communications
The communications function provides both an intermediary broad-brush and where necessary, segmented link between the Commission, and regulated entities, stakeholders, the media, and general public. As the collaborative pillar which curates the official voice of the Commission, it communicates and facilitates various modes of information exchange and ultimately manages the Commission’s public identity, relationships, and corporate branding mechanisms.  More specifically, External Relations via the communications function, manages the Commission’s website, intranet, newsletters, industry collaborations and announcements, advertisements, infographics, general requests for information, standard electronic and printed outputs, media relations, and publicity.

Media Monitoring
The media monitoring function is both an investigative and analytical one. It will allow the Commission to keep track of public mentions of BVI business companies and the entities that it regulates (especially in relation to their conduct), as well as provide opportunities to audit public statements concerning the Commission. Media monitoring patterns, as part of External Relations, will involve enabled tracking of news stories focused on BVI business companies, including licensees, and reactions thereto; general opinions regarding the Commission, its products and services; and published biases.  The data collected will then be funneled for evaluation and synthetisation of sources and ideas, and where necessary, a suitably orchestrated response.  

Financial Education
MONEY MATTERS BVI (MMBVI) is the Commission’s financial literacy education tool. It provides education regarding the Commission and available financial products and services.  Over the past decade MMBVI has forged solid relationships with licensees and community organisations, for the purpose of educating the public on available products, services, rights of financial services consumers, and the attendant responsibilities.  The remit of MMBVI extends to educating prospective users of financial services products, such as school-aged children, and often traverses into the related area of personal financial management.

The activated External Relations Unit of the Commission is expected to bring about strengthened capability for information gathering and sharing; thence, the BVI financial services industry, along with the other audiences served by the Commission, can look forward to improved frequency, greater harmony and diversity in the way information is shared and stakeholders are engaged.   Correspondingly, External Relations will be reaching out to industry personnel on a broad spectrum of matters; it will also solicit and accept unsolicited feedback on the work of the Commission.

If you or your firm would like to be placed in the External Relations directory and thereby be called upon to contribute professional expertise to initiatives on the External Relations agenda, we invite you to reach us on externalrelations@bvifsc.vg.

About Us
The BVI Financial Services Commission is the autonomous regulatory agency responsible for regulating and supervising financial services conducted in and from within the territory. 

Any questions concerning the new External Relations Unit or this notice may also be directed to:

External Relations Unit
BVI Financial Services Commission
18 Pasea Estate Road, Tortola VG1110
British Virgin Islands
Tel: (284) 494-4190
Fax: (284) 494-5016 
Email: externalrelations@bvifsc.vg