Today marks the ninth anniversary of the Cyril B. Romney Tortola Pier Park, a cornerstone of the British Virgin Islands’ cruise tourism industry. Since its official opening on February 16, 2016, the park has become a vibrant hub for visitors and locals alike.

Construction of the Tortola Pier Park commenced in mid-2014, aiming to enhance the territory’s capacity to accommodate larger cruise ships and provide an enriched visitor experience. The project culminated in a grand opening ceremony on February 16, 2016, unveiling a modern facility featuring a blend of retail, dining, and entertainment options. The event was a significant milestone, reflecting the territory’s commitment to bolstering its tourism infrastructure.

In recognition of the late Cyril B. Romney’s pivotal contributions to the territory, particularly in the development of the cruise tourism sector, the facility was officially renamed the Cyril B. Romney Tortola Pier Park on February 15, 2019. Mr. Romney, who served as Chief Minister from 1983 to 1986, was instrumental in pioneering initiatives that have had a lasting impact on the BVI’s economic landscape.

The renaming ceremony was marked by the unveiling of a statue in Mr. Romney’s honor, symbolizing his enduring legacy. The event was attended by government officials, family members, and residents, all paying tribute to his visionary leadership and dedication to the territory’s progress.=

Over the past nine years, the Cyril B. Romney Tortola Pier Park has evolved into more than just a cruise port; it has become a cultural and social epicenter. The park hosts numerous events, including local festivals, concerts, and community gatherings, fostering a sense of unity and celebration among residents and visitors.

A growing rift between the British Virgin Islands (BVI) and the UK government has erupted over proposals for a new corporate ownership register, with MPs accusing the territory of attempting to shield financial criminals from scrutiny. The dispute threatens to escalate into a constitutional showdown as pressure mounts on the UK to intervene.

The controversy centres on the BVI’s proposed system for disclosing company ownership information. While overseas territories, including the BVI, have committed to introducing publicly accessible registers of beneficial ownership (PARBOs), critics argue that the new measures would render it nearly impossible to uncover the true owners of firms registered in the islands.

MPs Joe Powell and Andrew Mitchell, who co-chair the all-party parliamentary group on anti-corruption and responsible tax, have written to BVI Premier Natalio Wheatley, condemning the plan as a “shameful bid” to protect illicit financial activities. The former development minister Mitchell went further, accusing the BVI of attempting to “continue to manage stolen funds and assist in money laundering from sources close to the sex trade and the drugs trade.”

Under the BVI’s proposed system, only individuals involved in legal or regulatory proceedings related to financial crime could request ownership information. Additionally, the owners of companies would be notified of such requests and granted five days to object before any details are shared. Critics argue this provision would alert criminals to impending investigations, allowing them to move assets before authorities can act.

“This could expose journalists to legal or physical intimidation when investigating high-risk stories on drug cartels, kleptocrats, or human traffickers,” the MPs wrote in their letter. The proposals also require applicants to already know the identity of a company’s owner before requesting ownership details—an approach described as a “logical impossibility” by Mitchell and Powell.

The UK Foreign Office is reportedly dissatisfied with the BVI’s proposals and has urged the territory to revise its approach. Foreign Secretary David Lammy has prioritised efforts to combat illicit finance, with the issue of public ownership registers featuring prominently in recent talks with overseas territories. British officials made their stance clear during a summit with the territories in November.

Transparency International, a leading anti-corruption group, has echoed concerns raised by MPs, warning that the BVI’s policy could undermine global efforts to combat financial crime. Lawmakers are set to debate the progress of PARBOs in a Westminster Hall session on Wednesday, with the BVI’s approach expected to be a focal point of discussions.

There is growing speculation that the UK government could resort to an “order in council” to compel the BVI to comply. The measure, rarely used to preserve the self-governance of overseas territories, has been previously invoked to abolish the death penalty and decriminalise homosexuality in British territories.

The BVI government has declined to comment on the criticisms but has previously stated its commitment to transparency and tackling financial crime. It has argued that open registers require a “tailored approach” depending on the jurisdiction.

Source: TheGuardian.com