Honourable Lorna Smith, OBE, Minister for Financial Services, Labour and Trade is scheduled to address a group of Compliance professionals at the Caribbean Regional Compliance Association (CRCA) Conference in St. Maarten on the October 17, 2024.

The conference, which is hosted by the British Virgin Islands Association of Compliance Officers and Practitioners (BVIACO), aims to inspire, inform, and encourage professionals in Compliance, Regulatory, and Anti-Money Laundering (AML).

The CRCA Conference is a critical platform for the region's financial professionals to address challenges, share best practices, and reinforce their commitment to maintaining the highest standards of financial integrity. The Minister’s presence underscores the Virgin Islands' ongoing dedication to compliance and regulatory excellence within the global financial services industry.

At the Mourant Financial Services Conference held in the British Virgin Islands on October 15, 2024, the Minister emphasised the importance of maintaining a high level of vigilance and integrity in the Virgin Islands' financial services sector. In her keynote address, she stated: "The BVI will always be a hostile environment to illegitimate financial activity. [Therefore] high standards of financial integrity and transparency that meet global standards are essential".

The Minister focused on the continued resilience of the Virgin Islands and as an extension the financial services industry in the face of adversity. She reinforced the Virgin Islands' unyielding commitment to upholding a robust regulatory regime. She stated "As a jurisdiction, we, in the Virgin Islands, have never wavered in our commitment to prevent those who would misuse our financial services system, from accessing it. We have developed a reputation for agility and innovation, and I know that your clients appreciate the legislative and regulatory regime of the Virgin Islands - our BVI advantage".

The Minister's participation in both conferences aligns with the government’s broader strategy to reinforce the Virgin Islands' position as a leading jurisdiction in financial services, and to be recognised for its high standards of regulatory compliance and its commitment to combatting financial crimes.