BVI FSC and Gibraltar FSC signed Memorandum of Understanding

The British Virgin Islands Financial Services Commission confirmed in the Press Release the signing of Memorandum of Understanding with the Gibraltar Financial Services Commission. The signed document, concerning the supervision of Managers of Alternative Investment Funds, allows for the exchange of information between the two jurisdictions, on matters related to the supervision and oversight of AIFMs, their delegates and depositaries. So, under the MoU, BVI- and Gibraltar regulated funds can operate in both jurisdictions.

The Memorandum was signed on 13 July by Robert Mathavious, the Managing Director/CEO of the BVI FSC, and Samantha Barrass, CEO of the Gibraltar Financial Services Commission. It is stated in the document how information will be exchanged between the financial regulators, the ways how it will be used, as well as confidentiality, share of information, and the procedures of executing requests for assistance.

Currently, the BVI FSC has signed 27 MoUs related to the supervision of Managers of Alternative Investment Funds.