An important notice came from the British Virgin Islands Financial Services Commission (the Commission) on March 23, 2020. The Commission acknowledged the possible business disruptions that the global pandemic COVID-19 may present for certain licensees in complying with the upcoming deadline of March 31, 2020 for the payment of annual licence fees.
In light of the circumstance, the Commission will not apply, nor issue, penalty fees for late submission until after April 30, 2020. Notwithstanding, the Commission is encouraging those who are able, where practical, to comply with the March 31, 2020 deadline.
The extension applies to:
- Investment Business Licensees
- Mutual Funds
- Approved Managers
Please do not hesitate to contact Christopher Simpson (csimpson@onealwebster.com) or Kerry Anderson (kanderson@onealwebster.com) should you require further information or assistance in connection with the foregoing.
