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Functionaries of BVI Hedge Funds Take Note

August 2011 Anton Goldstein

Amidst all the attention given to the BVI Securities and Investment Act, 2010 (“SIBA”), section 41(2) of SIBA has received surprisingly scant attention given its potential importance to the functionaries of BVI hedge funds.

In particular, section 41(2) of SIBA makes it an offence for any person to act as a functionary of a BVI hedge fund unless the fund has been properly recognised by or registered with the BVI Financial Services Commission (the “FSC”). In other words, this new offence creates an obligation on fund functionaries to ensure that their BVI hedge fund clients have the necessary regulatory authorisations they require under BVI law.

A version of this article was published in Legal Week on October 6, 2011.

 

To continue reading full articles in PDF format:
Functionaries of BVI Hedge Funds Take Note

 


Anton Goldstein
Partner

British Virgin Islands   +1 284 852 1119


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Articles

Functionaries of BVI Hedge Funds Take Note

16 August 2011 Anton Goldstein

Amidst all the attention given to the BVI Securities and Investment Act, 2010 (“SIBA”), section 41(2) of SIBA has received surprisingly scant attention given its potential importance to the functionaries of BVI hedge funds.

In particular, section 41(2) of SIBA makes it an offence for any person to act as a functionary of a BVI hedge fund unless the fund has been properly recognised by or registered with the BVI Financial Services Commission (the “FSC”). In other words, this new offence creates an obligation on fund functionaries to ensure that their BVI hedge fund clients have the necessary regulatory authorisations they require under BVI law.

A version of this article was published in Legal Week on October 6, 2011.

 

To continue reading full articles in PDF format:
Functionaries of BVI Hedge Funds Take Note

 


Anton Goldstein
Partner

British Virgin Islands   +1 284 852 1119


 

expertise

Investment Funds


International Office(s)

British Virgin Islands