Overview

The Securities and Investment Business Act, 2010 was introduce in the British Virgin Islands on 17 May, 2010. This note from Conyers Dill & Pearman contains a brief overview of SIBA and highlights some of the key changes which will be introduced by the new legislation.

SIBA augments the BVI’s regulatory regime to ensure it complies with international best practice and implements standards laid down by the International Monetary Fund (IMF) and the International Organisation of Securities Commissions (IOSCO). More specifically, SIBA establishes four broad pillars of regulation, namely the regulation of:
1. investment business;
2. the public issues of securities;
3. market abuse; and
4. mutual funds.

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