Notice - Diversified Fund Platform Ltd. (2025-11-26)

Summary

This is a notice from the Bermuda Monetary Authority (BMA) announcing that it petitioned the Supreme Court of Bermuda to wind up Diversified Fund Platform Ltd., an institutional fund licensed under Bermuda's Investment Funds Act 2006. The Court ordered the wind-up on 7 November 2025 and appointed two joint provisional liquidators (JPLs) to manage the Company and its four sub-funds.

• Breach: prudent conduct: Failed to conduct business in a prudent manner, contrary to section 4A(2) of the IFA and paragraph 1 of the Minimum Criteria for Licensing.
• Breach: audited financials: Failed to prepare audited financial statements as required by section 14(1)(a) of the IFA.
• Breach: NAV valuations: Failed to carry out net asset valuations and failed to notify the Authority or seek a waiver for suspension of NAV calculation under Rule 7(4) and section 40 of the IFA.
• Breach: service providers: Failed to appoint an auditor, investment manager and administrator, contrary to section 14(1)(b) of the IFA.
• Breach: annual filings: Failed to file annual statements particularising compliance or non-compliance, contrary to section 26(1)(b) of the IFA.

The notice is informational: it explains the regulatory grounds for the wind-up and directs anyone with questions about the Company to contact the appointed joint provisional liquidators, Joseph Gordon and Christopher Kennedy, by email. It does not impose new ongoing compliance obligations on other licensees.

Applies to

investment funds, institutional funds, standard funds, fund operators