The Junior Minister also addressed the Robert Mathavious Institute (RMI) Recognition and Closing Ceremony, where 98 students were recognised for completing programmes in compliance, governance, risk management, accounting and anti-money laundering.
Junior Minister for Financial Services, Economic Development and Digital Transformation, Hon. Lorna Smith, OBE, has highlighted the Virgin Islands Government’s commitment to strengthening the territory’s financial services industry through strong compliance, innovation and investment in local talent.
According to a Government Information Services (GIS) press release, Smith delivered the message while addressing industry professionals and students at two major financial services events this week.
Speaking at the British Virgin Islands Association of Compliance Officers (BVIACO) 8th Annual Compliance Conference 2026, Smith said effective regulation, transparency and alignment with international standards are increasingly viewed as competitive advantages for global financial centres.
Addressing the conference theme, “Effective Compliance is More Than Checking the Box,” she noted that investors continue to favour jurisdictions that offer stability, legal certainty and high professional standards.
Smith also pointed to the implementation of the Legitimate Interest Access Regime as a key policy milestone supporting the continued development of the territory’s financial services sector. She said efforts are also ongoing to strengthen the regulatory framework, address outstanding recommendations from the Financial Action Task Force (FATF) and maintain alignment with evolving international standards.
During the conference, Smith was awarded honorary membership by BVIACO in recognition of her contributions to the industry.
The Junior Minister also addressed the Robert Mathavious Institute (RMI) Recognition and Closing Ceremony, where 98 students were recognised for completing programmes in compliance, governance, risk management, accounting and anti-money laundering.
Congratulating what was described as the institute’s largest graduating class to date, Smith stressed the importance of education and professional development in preparing Virgin Islanders for opportunities within the financial services industry.
Reflecting on the week’s engagements, Smith said strong compliance, innovation and investment in people are helping to drive growth in the territory’s financial services sector.
She also referenced the Virgin Islands’ participation at Consensus 2026 by CoinDesk and welcomed recent recognition from the United States Department of Justice for assistance provided by the Attorney General’s Chambers in matters connected to the 1MDB investigation.
Smith said the acknowledgement demonstrates the Virgin Islands’ commitment to international cooperation, strong regulatory standards and combating financial crime.
“These efforts continue to reinforce the Virgin Islands’ position as a trusted, capable and internationally respected financial centre, well placed to lead with ambition, expertise and confidence in a rapidly evolving global marketplace,” Smith stated.
According to a Government Information Services (GIS) press release, Smith delivered the message while addressing industry professionals and students at two major financial services events this week.
Speaking at the British Virgin Islands Association of Compliance Officers (BVIACO) 8th Annual Compliance Conference 2026, Smith said effective regulation, transparency and alignment with international standards are increasingly viewed as competitive advantages for global financial centres.
Addressing the conference theme, “Effective Compliance is More Than Checking the Box,” she noted that investors continue to favour jurisdictions that offer stability, legal certainty and high professional standards.
Smith also pointed to the implementation of the Legitimate Interest Access Regime as a key policy milestone supporting the continued development of the territory’s financial services sector. She said efforts are also ongoing to strengthen the regulatory framework, address outstanding recommendations from the Financial Action Task Force (FATF) and maintain alignment with evolving international standards.
During the conference, Smith was awarded honorary membership by BVIACO in recognition of her contributions to the industry.
The Junior Minister also addressed the Robert Mathavious Institute (RMI) Recognition and Closing Ceremony, where 98 students were recognised for completing programmes in compliance, governance, risk management, accounting and anti-money laundering.
Congratulating what was described as the institute’s largest graduating class to date, Smith stressed the importance of education and professional development in preparing Virgin Islanders for opportunities within the financial services industry.
Reflecting on the week’s engagements, Smith said strong compliance, innovation and investment in people are helping to drive growth in the territory’s financial services sector.
She also referenced the Virgin Islands’ participation at Consensus 2026 by CoinDesk and welcomed recent recognition from the United States Department of Justice for assistance provided by the Attorney General’s Chambers in matters connected to the 1MDB investigation.
Smith said the acknowledgement demonstrates the Virgin Islands’ commitment to international cooperation, strong regulatory standards and combating financial crime.
“These efforts continue to reinforce the Virgin Islands’ position as a trusted, capable and internationally respected financial centre, well placed to lead with ambition, expertise and confidence in a rapidly evolving global marketplace,” Smith stated.
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