Walkers Professional Services (WPS) in the British Virgin Islands is pleased to announce that it is now offering Authorised Representative Services for entities regulated under the Securities and Investment Business Act (SIBA).
Having expanded to the British Virgin Islands (BVI) earlier this year, WPS is seeing significant demand for these services, which complement its existing client focused services offering.
The role of an Authorised Representative is key in the BVI Financial Services Commission's monitoring and supervision of licensees. The responsibilities of an Authorised Representative include:
- acting as the main point of contact for the licensee or mutual fund within the BVI;
- acting as the keeper of all records and other documents required to be kept by the licensee or mutual fund under the Regulatory Code and the Mutual Funds Regulations; and
- payment of all fees due to the BVI Financial Services Commission by a licensee or mutual fund.
In conjunction with Walkers law firm, WPS benefits from an infrastructure and scale that allows it to navigate ever-increasing regulatory demands on behalf of our clients, who benefit by accessing the expertise of Walkers' integrated, market-leading team and best in class legal and professional services.
Accordingly, the team at WPS can take care of all administrative tasks for clients, including:
- providing ongoing reminders and follow-ups for annual filings;
- acting as the main intermediary with the BVI Financial Services Commission;
- accepting documents on their behalf; and
- maintaining records
In addition, the WPS service offering is fully aligned with Walkers' market leading Regulatory and Risk Advisory practice, which is made up of multiple experts in the financial services, insurance and fintech sectors, and who advise clients on a comprehensive range of regulatory matters.