BVI Government Discusses Foreign Account Tax Compliance Act

The British Virgin Islands jurisdiction has started to discuss the Foreign Account Tax Compliance Act (FATCA) with the US Department of the Treasury. According to BVI Premier Orlando Smith, who told this to reporters on August 20, 2013, the territory is talking about the “intergovernmental agreement” with the US to comply with FATCA.

The Premier expressed the opinion that this course of action is the best for the BVI, and noted that its financial services industry complies with it.

The Foreign Account Tax Compliance Act provides that the Inland Revenue Service obtains information on accounts of US taxpayers, held abroad at foreign financial institutions. If foreign financial institutions fail to disclose information on their US clients, account ownership, and changes on the account balance, it will result in the requirement to withhold 30 percent tax on US source income.

In August, the Cayman Islands has concluded negotiations with the United States on agreements for automatic information exchange under the Foreign Account Tax Compliance Act, and Bermuda and the Bahamas have also expressed their intention to comply with FATCA.

Brian Obvi,
Offshore Analyst

Article any source

BVI Dominates by Volume of New Offshore Company Incorporations

According to a report from Appleby Global, one of the world’s largest providers of offshore legal, fiduciary and administration services. the British Virgin Islands jurisdiction “continues to dominate” by the volume of new offshore company registrations, with a six-fold lead over the Cayman Islands, which is the nearest comparator of the BVI.

The Group’s latest On the Register Report is devoted to the analysis of company incorporations in the British Virgin Islands, Cayman Islands, Bermuda, the Crown Dependencies, Mauritius and Seychelles, and how activity in these offshore jurisdictions compares to financial centres such as the UK and Hong Kong. 

Appleby stated in the release that the number of new offshore company registrations decreased both in the BVI and the Cayman Islands in the second half of 2012, with a 12% drop to 29,225 new company registrations in the British Virgin Islands, and 13% drop to 4,176 new registrations in the Cayman Islands. Appleby reported an overall decrease of 3.6% in company incorporation activity in the major offshore markets in the second half of 2012, indicating the impact of uncertain global economic conditions on the majority of the offshore markets.

By words of Farah Ballands, the partner and global head of fiduciary & administration services at Appleby, “There are signs that 2013 will be a watershed year in terms of seeing a universal return to pre-2009 activity levels across the offshore jurisdictions.”

Brian Obvi,
Offshore Analyst

Article any source

BVI and Other Financial Centres Sign Up for UK Strategy to Enhance Tax Transparency

UK Chancellor of the Exchequer George Osborne welcomed the news that British Overseas Territories with significant financial industry sector, among them the Cayman Islands, the British Virgin Islands, Anguilla, Bermuda, Montserrat and the Turks and Caicos Islands, signed up for the UK government’s strategy on global tax transparency. This strategy will allow these financial centres to automatically share information bilaterally with the UK, and multilaterally with the G5 countries - the UK, France, Germany, Italy and Spain. 

Under the agreement, much greater levels of information about bank accounts, including those held by trusts, will be exchanged, marking a turning point in the fight against tax evasion and illicit finance. The parties involved in the agreement will know the names, addresses, dates of birth, account numbers, account balances and details of payments made into those accounts. This will increase the level of international transparency and will make it much harder for people to escape paying taxes.

This year, Britain’s Prime Minister David Cameron identified tax transparency as a key priority for the summit of the G8. The jurisdictions, including BVI, have also committed to take action to ensure they are at the forefront of transparency on BVI company ownership. Osborne has invited other countries to join the initiative.

Brian Obvi,
Offshore Analyst

Article any source

BVI FSC Issued 29th Volume of Quarterly Statistical Bulletin

Twenty-ninth volume of Quarterly Statistical Bulletin was issued by the British Virgin Islands Financial Services Commission, providing statistics and information on the financial services activities in the territory in the fourth quarter of 2012. According to the statistics of the Registry of Corporate Affairs, 14,783 new companies were incorporated in BVI during this period, as compared to 16,251 companies in the third quarter of 2012, and 12,974 in the fourth quarter of 2011. Cumulative number of companies newly registered in the BVI was 459,005 as at 31 December 2012. In the fourth quarter of 2012, 36 Limited Partnerships and 21 Private Trust Companies were registered.

According to Banking and Fiduciary services statistics, total assets of BVI-registered commercial banks in the fourth quarter of 2012 were $2,472,3mln; deposits were $1,827mln; total shareholders’ equity $400,7mln; net interest income was $44,3mln.

In Investment Business sector, 6 new Investment Business Licences were granted in the reported period. In Mutual Funds sector, 27 new licences were issued, of which 19 are professional and 8 are private licences. The Bulletin includes year-by-year statistics, from the fourth quarter of 2009 to the fourth quarter of 2012, showing the dynamics of how cumulative number of Active Mutual Funds was changing in this period. From Q4 2009 to Q4 2012, the number of Active Public Funds decreased from 216 to 151; the number of private funds decreased from 816 to 577; and the number of professional funds fell from 1,905 to 1,590.
There were 23 Insolvency Practitioners in the British Virgin Islands by the end of the fourth quarter of 2012.

Also, in the fourth quarter of 2012 there were 55 Enforcement Matters in the sector of Legal and Enforcement and International Co-operation. Ongoing Supervision Matters Referred to LSC included 103 matters in Banking and Fiduciary Services, 259 in Investment Business, 139 in Insurance and 10 in Insolvency Services.

Brian Obvi,
Offshore Analyst

Article any source

Government Investigates Global Leak of Information on BVI Companies

The BVI government is investigating the ways how the US-based International Consortium of Investigative Journalists (ICIJ) received information on BVI companies, which is private. According to BVI Premier and Minister of Finance Dr Orlando Smith, this is an “illicit” leak of information used to attack the BVI financial services industry, which is actually fully compliant with the law and international guidelines.

The names of many BVI offshore company owners have been published by ICIJ, in collaboration with the Guardian newspaper and other international sources. This became the result of the leak of internal files of offshore incorporation agencies in the British Virgin Islands and some other tax havens – one of the biggest information leaks in history, which revealed many individuals and the details of their financial dealings through offshore accounts. 

This leak has already caused global reaction from governments and politicians. For example, Britain’s prime minister David Cameron is under pressure to act against the secretive offshore industry at June's G8 summit, as leaked evidence continued to show that politicians and tycoons from all over the world have used the BVI to hide their funds. Also, this week the European Commission announced an action plan to combat tax fraud and evasion, which was approved by Britain, France, Germany, Italy and Spain.

Orlando Smith said in his statement: "While the overwhelming majority of persons use international financial centres for legitimate purposes, there are those that will abuse the system. Where wrongdoing is discovered, appropriate enforcement action is and will be taken. We continually review our legislative regime to ensure transparency, co-operation and compliance with international standards."

Brian Obvi,
Offshore Analyst

Article any source

BVI Named a Major Financial Centre by The Economist

In a special report by The Economist, a well known weekly news magazine publishing reports on politics, economics, business and finance, BVI has been recognized as a major financial centre playing a strong role in the global economy. It is stated in the report that offshore financial centres have recently been under attack but have been resilient to it, and the future of respected international finance centres like the British Virgin Islands and their staying in business is guaranteed.

The report, named “Storm survivors”, also acknowledges the importance of Asia to the BVI jurisdiction, as the BVI companies are used for initial public offerings and international investments. Among the reasons why investors are using the BVI for international arbitrage, there are highlighted the ease of raising funds, cheaper access to capital markets, speed of setting up a company (or investment vehicle) and access to reliable courts. 

The executive director of the BVI International Finance Centre Elise Donovan commented on the report, saying that “The Economist has highlighted some positive attributes about the BVI. It has shown us in a true light as a stable, well regulated and neutral jurisdiction which makes a significant contribution to the liquidity of the global economy.”

She also said some words on the role of Asian market for the BVI: “Asia is of the utmost importance to us. In less than 10 years, China will be the largest economy in the world. We have built a strong relationship with China and we must continue to build on those foundations and ensure the BVI remains an attractive proposition for Asian businesses.”

Brian Obvi,
Offshore Analyst

Article any source

Financial Services Day Held by BVI International Finance Centre

Last week, the BVI International Finance Centre hosted Financial Services Day, as part of the BVI Senior Students Career Expo which took place on February 11-14 at the Multipurpose Sports Complex. Financial Services Day has the aim to educate secondary school students on the importance of the BVI financial services industry and its many career opportunities.

The Exhibitors of the Financial Services Day included key industry players – the Financial Services Commission, BVI Bank Association, BVI Association of Professional Accountants, BVI Bar Association, Virgin Islands Shipping Registry, Financial Investigation Agency, BVI Airports Authority, Restructuring and Insolvency Specialists Association, Association of Registered Agents, the Society of Trust and Estate Practitioners, and insurance companies.

IFC Executive Director Ms. Elise Donovan in her introductory remarks spoke about the contribution of the financial industry to the economy of the Territory, stating that “more than 60 percent of the revenues that goes into the Government’s Treasury come from financial services.”She encouraged students to consider careers in the financial services sector, which is so important to the British Virgin Islands.

The BVI IFC hosted the BVI Senior Students Career Expo beginning from 2007, in previous years this was held only for students of the Elmore Stoutt High School (ESHS).

Brian Obvi,
Offshore Analyst

Article any source

BVI Premier Speaks on the Development of Financial Services Industry

The Premier and Minister for Finance of the British Virgin Islands Orlando Smith had discussed the future of the BVI as a financial centre with business leaders. He said that the BVI government has the aim to strengthen the position of the territory as a leading offshore financial centre that adheres to international standards, and to set the BVI apart from its competitors by developing innovative new offerings.

The Premier and Minister for Finance noted that the BVI, which once had unique position in the world of financial services, now has a community of competitors in this niche, as well as in tourism sector. He said that the territory must “rise to the challenges of keeping the twin pillars of economy not only sturdy but resilient.” By words of the Premier, the BVI should review its business models, and to improve or increase the products offered, because what once was an “extraordinary idea,” has now become “the new normal.”

Orlando Smith pointed to changing international standards on tax transparency and information exchange. He stressed that the BVI government must increase its efforts to inform the international community on all the steps taken by the jurisdiction to adopt leading international standards and improve co-operation with tax authorities of other countries. Also, he said that particularly close attention should be focused on the “correctly themed marketing of our tourism and financial services products, and currently efforts are fully underway to rebrand the BVI product."

To boost the ties of the BVI territory with emerging markets, particularly Asian, the BVI government plans to establish a representative office in Hong Kong.

Brian Obvi,
Offshore Analyst

Article any source

New Volume of Statistical Bulletin Issued by BVI FSC

This week, the Commission published the twenty-eighth volume of its Quarterly Statistical Bulletin, comprising statistics and analysis of BVI financial services industry for the third quarter of 2012. In the three month period, ended September 2012, 16,251 new companies and 20 limited partnerships were incorporated on the territory – more than in the second quarter of the year. As compared to the previous years, the number of company incorporations in the third quarter of 2012 was less than in the same quarter of 2011 (17,056), but more than in the years 2010 and 2009 (15,946 and 13,368, respectively). According to the Registry of Corporate Affairs, cumulative number of active business companies achieved 473,707 as at 30 September 2012, and cumulative number of limited partnerships achieved 496.

By the Banking and Fiduciary Services statistics, banking sector of the British Virgin Islands showed the following figures in the third quarter of 2012 (in thousands of US$): Cash items in the amount of $689,815, loans and advances in the amount of $1,600,974, total assets - $2,438,154, total shareholders’ equity - $449,670, net income - $31,235.

In the Investment Business, 3 new Investment Business licenses and 29 Mutual Funds licenses were granted in the reported period. Cumulative number of active mutual funds in Q3 2012 was 157 public funds (181 in Q3 2011), 591 private funds (718 in Q3 2011), and 1,610 professional funds (1,728 in Q3 2011).

In the sector of Legal and Enforcement and International Cooperation, 51 enforcement matters were registered in the reported period, and 31 formal requests for international cooperation, requiring the disclosure of non-public information. There were 14 enforcement actions, 12 of them – before the Enforcement Committee. Among the matters referred to the Licensing and Supervisory Committee in the third quarter of 2012, 79 related to Banking and Fiduciary Services, 332 related to Investment Business, 46 – to Insurance, and 7 – to Insolvency Services.

Brian Obvi,
Offshore Analyst

Article any source

Harneys Issued Second Edition of “British Virgin Islands Commercial Law”

In the last weeks of 2012, the international offshore law firm Harney Westwood & Riegels announced the publication of the 2nd edition of practitioner’s textbook ‘British Virgin Islands Commercial Law’. Since it was first published in February 2012, it remained the first and only textbook focusing solely on British Virgin Islands law and practice, comprising Harney’s expertise as the oldest and largest law firm in this offshore jurisdiction.

The publication is an authoritative source of information and advice for lawyers and other professionals who work with corporate structures and transactions, providing a deep analytical view of BVI legal background, related to business companies, partnerships, credit and security, investment funds, insolvency, dispute resolution, taxation and trust legislation. 

There are some changes in the law of the British Virgin Islands that occurred since the 1st textbook was edited, including the passing of the BVI Business Companies (Amendment) Act 2012 was passed and the accompanying BVI Business Companies Regulations 2012.

Brian Obvi,
Offshore Analyst

Article any source

BVI Corporate Law Updated by Amendments and Regulations

The British Virgin Islands Financial Services Commission announced that the BVI Business Companies (Amendment) Act, 2012 and associated BVI Business Companies Regulations 2012 came into force on 15 October 2012, amending the original BVI Business Companies Act, 2004. Both the Act and the Regulations actually are the first significant update to the corporate law regime of the British Virgin Islands since 2006, and introduce a number of measures aimed at streamlining, clarifying and improving the administration of BVI Business Companies.

The BVI Business Companies (Amendment) Act, 2012 includes 85 new and amended provisions which clarify certain issues within the Act, and codify some existing practices. Some of the key changes that have been made affect such important issues as company names, share class conversion and bearer shares, Notice of Amendment, the Registrar of Companies, registered agents and registration procedure, voluntary liquidation and dissolution, fees, and security interests of the companies. All the changes are beneficial to the BVI regime and aimed to increase its attractiveness as one of the leading offshore jurisdictions worldwide. 

BVI Business Companies Regulations, 2012 have been developed to complement the implementation of some of the provisions of the Act. The Regulations have a total of 29 new provisions and three new Schedules.

The BVI Business Companies (Amendment) Act, 2012 and BVI Business Companies Regulations 2012 can be found on Commission’s website at www.bvifsc.vg.

Brian Obvi,
Offshore Analyst

Article any source

UK Receives Feedback on BVI and Other Overseas Territories

The UK government received feedback as part of its consultation on the review of its relationship with country's overseas territories, including BVI and other Caribbean territories. It was stated that the government should support its Overseas Territories to develop sustainable economic models, and provide assistance to ensure good governance by local governments.

One of the most often named challenges that interfere with economic development in the British Overseas Territories was the need for the diversification of jurisdictions' economies. Economic diversification was raised by various respondents to the consultation.

According to the official submission of the Premier of the British Virgin Islands, the contraction of tourism and financial services has had “multiplier effects across all sectors of the society”. This issue was also raised in the official response by the government of the Cayman Islands.

The respondents also said that transparency, poor planning and corruption were the most prominent issues in relation to good governance and stated that the UK could assist with solving these problems by providing audits and advice to local authorities. This issue was raised by residents of the British Virgin Islands, the Cayman Islands and Montserrat.

Brian Obvi,
Offshore Analyst

Article any source

Advisory Warning No.2 Issued by BVI FSC

Advisory Warning No. 2 of 2012 was published by the British Virgin Islands Financial Services Commission on 29 February, 2012, relating to the Stand Online Ltd./ Fidelity Ltd. - the companies which offered investment opportunities on the websites at www.stockcastle.com, and presented itself as being incorporated and registered in the British Virgin Islands.

The BVI FSC informed the public that Stand Online Ltd. / Fidelity Ltd. is not, and has not at any time been incorporated or registered in the British Virgin Islands jurisdiction, or licensed by the Financial Services Commission. The Commission urged the public to exercise extreme caution in conducting any transactions with Stand Online Ltd. / Fidelity Ltd.

Also, the Commission has been advised that neither of the entities has any affiliation to Fidelity Corporate Services Ltd. and Fidelity Management Services Limited – the companies which are licensed by the FSC, and have all the rights to offer incorporation and investment services in the British Virgin Islands jurisdiction.

Brian Obvi,
Offshore Analyst

Article any source

BVI FSC Publishes Financial Statistics for Q2 and Q3 of the Year

Last week, the BVI Financial Services Commission published the twenty-third and twenty-fourth volumes of its Quarterly Statistical Bulletin, providing information on financial services activities in the territory in the second quarter and the third quarter of 2011, respectively.

In the second quarter period, ended 30 June 2011, there were 15,689 business companies newly registered in the BVI, as compared to 12,815 in the same quarter of 2010. Also, there were 13 Limited Partnerships registered in the second quarter of the year. According to the Banking and Fiduciary Services statistics for commercial banks, in this period total assets were US$2,419 mln, cash items were US$717,028 mln, loans and advances were US$$1,529 mln, total liabilities were about US$2 mln.

Total number of Licensed Insolvency Practitioners, including Full and Restricted Licenses, in the second quarter of 2011 was 25. In the sphere of Legal and International Cooperation, there were 24 International Cooperation Matters, and 44 Enforcement Matters. The Licensing and Supervisory Committee (LSC) in these three months has reviewed 538 matters.

The twenty-fourth volume of the BVI Financial Services Commission's Quarterly Statistical Bulletin, providing information on financial services activities in the third quarter of 2011, informs about 17,056 business companies incorporated in this period. Cumulative number of business companies as at 30 September 2011 was 457,331. In the third quarter of 2011, 12 Limited Partnerships were established, cumulative number of Limited Partnerships was 545.

According to the Banking and Fiduciary Services statistics, total assets in this period were US$$2,450 mln, cash items were US$724,6 mln, loans and advances were US$1,582 mln, total liabilities were US$2,028 mln.

According to Legal and International Cooperation Statistics, in the third quarter of 2011 there were 38 International Cooperation Matters, and 31 Enforcement Matters; 357 matters were reviewed by the Licensing and Supervisory Committee.

Brian Obvi,
Offshore Analyst

Article any source

International Law Firm Opens Offices in BVI and Singapore

International financial services provider Bedell Trust has announced plans to open new offices in the British Virgin Islands and Singapore. After this, in addition to continuing to service its European-based clients out of Jersey, company's British Virgin Islands legal team, based at Bedell Cristin Jersey, will establish physical presence both in the BVI and Singapore. The BVI law team will also closely co-operate with the Channel Islands offices in providing multi-jurisdictional financial services solutions to customers from Asia.

Bedell Trust will also form an affiliation with an established BVI corporate management services company to support the provision of BVI corporate services to its clients. The company announced that the developments "are central to the Bedell strategy to provide multi-jurisdictional legal and fiduciary services in the key locations where our international client base demands them”.

Brian Obvi,
Offshore Analyst

Article any source

BVI Premier Discusses Dormant Accounts with BVI Bank Association

The government of the British Virgin Islands continues its consultations on the proposed dormant accounts bill, which has already had its first reading in the House of Assembly of the British Virgin Islands on April 19, 2011.

On June 3, 2011, Premier and Minister of Finance Hon. Ralph T.O'Neal, OBE and Financial Secretary Mr. Neil Smith had a meeting and discussion on this matter with the members of the British Virgin Islands (BVI) Bank Association.

The Bill titled “Dormant Accounts Act, 2011” is aimed to provide a framework by which unclaimed assets are ceded to and managed by the Government of the British Virgin Islands. It will also include protocols for the management of accounts and will clearly outline procedures for the claimants.

Brian Obvi,
Offshore Analyst

Article any source

Offshore Group of Banking Supervisors Extends its Role and Rebrands

The Offshore Group of Banking Supervisors has decided to rebrand itself the 'Group of International Finance Centre Supervisors’ (GIFCS). This decision followed the broadening of the role of the Group as a representative on behalf of numerous offshore financial centres in issues related to financial sector regulation standards. According to GIFCS chairman Colin Powell, the change has been made to reflect more accurately the current scope of the Group's activities.

Powell also said, “When the OGBS was formed in 1980, through the initiative of the Basel Committee on Banking Supervision, its mandate was limited to banking supervision. With the passage of time the Group has been increasingly recognized by relevant international organizations as a representative body that is also making a valuable contribution to combating money laundering/terrorism financing, the regulation of trust and company service providers, and most recently the regulation of hedge funds.”

The GIFCS has observer status with the FATF on Money Laundering and Terrorist Financing, it also has a close working relationship with the Basel Committee. The Group plays active role in promoting compliance with international standards.

In 2002 the Group of International Finance Centre Supervisors published a best practice paper of trust and company service providers. Recently it has produced a paper on hedge fund regulation, and has sought to establish a working relationship with International Organization of Securities Commissions (IOSCO).

Beside the British Virgin Islands, the members of the GIFCS are Aruba, Bahamas, Barbados, Bermuda, Cayman Islands, Cook Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Labuan, Macau China, Mauritius, Panama, Samoa, Vanuatu and the Central Bank of Curacao and Saint Maarten. The new member jurisdictions are included in the Group if they meet certain conditions relating to their commitment to the relevant international standards.

Brian Obvi,
Offshore Analyst

Article any source

BVI rating raised in Global Financial Centres Index

The jurisdiction of the British Virgin Islands has become the only offshore financial centre the rating of which improved in the latest edition of Global Financial Centres Index (GFCI 9), while other jurisdictions, including Bahamas, showed decline that had started with the beginning of the global financial crisis in 2008. GFTI rating of the BVI raised by two points and achieved 40th place in the ranking. Executive Director of the BVI International Finance Centre Sheri Ortiz considers that the BVI's boost in the ninth edition of the GFCI is for the centre's ongoing commitment to regulation, transparency and continued growth in the financial services offering of the jurisdiction.

Brian Obvi,
Offshore Analyst

Article any source

BVI FSC Published Twentieth Statistical Bulletin

The BVI Financial Services Commission has published the twentieth volume of Quarterly Statistical Bulletin, comprising financial statistics and analysis for the third quarter of 2010, the period ended at 30 September 2010. According to the statistics of the Registry of Corporate Affairs, publishing information on incorporations and registrations in the BVI jurisdiction, there were 15,946 business companies newly incorporated in the reported period. This is the growth in the number of registered companies, as compared to 12,815 companies registered in the second quarter of 2010, and to 13,368 companies registered in the third quarter of 2009. Cumulative number of companies incorporated in the British Virgin Islands at 30 September 2010 was 456,547.

According to the statistics published by Banking and Fiduciary Services Sector, in the third quarter of 2010 total assets of commercial banks were $2,189 million, loans and advances were $1,440,6 million, net income was $41,1 million.

In investment business sector, in Q3 2010 6 new licences were granted to functionaries (cumulative total number 577). 31 licences were granted to Mutual Funds (cumulative number 2951).

According to Legal and International Cooperation Statistics, there were 32 enforcement matters in the third quarter of 2010 (29 in the second quarter of 2010 and 39 in the third quarter of 2009).

In the third quarter of 2010, there were 464 matters before the Licensing and Supervisory Committee, 94 of them in Banking and Fiduciary Services sector, 293 in Investment Business sector, 75 in Insurance sector and 2 related to Insolvency services.

Brian Obvi,
Offshore Analyst

Article any source

IMF Publishes Report on BVI Financial System

In the beginning of this week, the International Monetary Fund (IMF) released the report named the Financial Sector Stability Assessment of the British Virgin Islands. Actually, this document became the summary of the IMF review of the regulatory regime in the BVI, which started with the IMF team visit to the British Virgin Islands territory in April 2010.

The purpose of the assessment was to make a thorough review of the financial systems in the British Virgin Islands and evaluate their stability. In the final report, the IMF experts recognised the strength of the territory's regulatory regime and willingness and ability of the Financial Services Commission to be a partner in international cooperation and sharing of information.

The review of the International Monetary Fund included the financial system stability assessment, detailed assessment of Basel Core Principles for Effective Banking Supervision, technical notes on corporate and trust services providers and on mutual funds regulation. To conduct this review, the IMF team met with government representatives and agencies, among them the FSC and Financial Investigation Agency, as well as with local trade association representatives and industry practitioners.

According to the report, the regulatory framework for both onshore and offshore financial services in the British Virgin Islands is clear and comprehensive, and “the FSC has demonstrated its strength and independence as a regulator”. It is also noted in the report that the BVI has “solid legal basis for an effective banking supervisory regime, particularly after the recent enactment of the Regulatory Code, 2009.”

It was highlighted in the report that the BVI has quickly adopted international standards and significantly strengthened its supervisory function. The IMF noted that the territory's ability to attract business relies on its international reputation as a well regulated and policed jurisdiction with a strong legal framework and efficient corporate services.

Brian Obvi,
Offshore Analyst

Article any source