Preparing for the next round of regulatory assessments This presentation was given during the 2nd VFSC Symposium on Virtual Assets by Rick McDonell, the former Executive Secretary of the FATF and APG. He reviewed the latest developments in global financial regulation and shared some pro tips on how to prepare for the next round of...
Defining the regulatory framework for Class D Financial Dealer Licences A presentation on the upcoming “Virtual Assets and Virtual Assets Providers Act” was given during the 2nd VFSC Symposium on Virtual Assets by Joshua Tarinako, Managing Supervisor at VFSC, and Loretta Joseph, an Australian consultant for the VFSC who was instrumental in drafting the Bill...
Charting the roadmap for global compliance A who’s who of Vanuatu’s financial industry and its regulators converged at Port Vila’s Warwick Le Lagon resort on June 27 to discuss the new licence for virtual asset service providers (VASP) and to review the jurisdiction’s best strategies to avoid global regulatory watch lists. This was the second...
Watch the full symposium in three parts
Vanuatu fintech pioneers see a bright future despite short-term hurdles At a recent symposium, Vanuatu’s budding fintech industry was widely hailed as a strategic sector for the economy. While there are still a few challenges, all participants agreed that the opportunities promise a bright future for the country’s youth. The Symposium “Virtual assets: Navigating the...
A core group of 60 brokers remain after licensing rules were strengthened. Industry insiders cite Cyprus as an inspiration for Vanuatu’s future. This article first ran on June 22, 2023 on FinanceMagnates.com. Just five years ago, Vanuatu had 600 active Financial Dealer Licenses (FDL). Today, there are only 60, but the jurisdiction has traded quantity...
PUBLIC NOTICE In light of the recent APA Insurance Indemnity (PI) cover fraud, the Commission as the regulator of the Financial dealers hereby instructs all Financial Dealers Licensees (The “FDL”) currently holding APA Insurance PI cover to secure an alternative cover from an approved Insurer immediately. The Commission requires the affected FDL to inform the...
Following last year’s amendment to the Financial Dealer Licensing Act of 2018, our regulator, the Vanuatu Financial Services Commission (VFSC), is now requiring all applicants for a Financial Dealer License (FDL) to establish a physical presence as well as economic substance in Vanuatu. In practical terms, this means that, from October 2022 onward, every FDL...
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