Uniworld Global Management Ltd - ADVISORY WARNING (2003-08-13)

Summary

This is a public advisory warning issued by the BVI Financial Services Commission on 13 August 2003 concerning Uniworld Global Management Ltd. It alerts the public that the company is not licensed to provide mutual fund management services under the Mutual Funds Act, 1996, and appears to be operating a hedge fund called Uniworld Global Fund One without any regulatory authorisation.

• Unlicensed activity: Uniworld Global Management Ltd. appears to be conducting mutual fund business and offering management services to a hedge fund, Uniworld Global Fund One, despite not being licensed under the Mutual Funds Act, 1996.
• No application filed: Neither the company nor Uniworld Global Fund One has applied to be regulated under the Mutual Funds Act, 1996 (as amended).
• Public caution advised: The Commission advises members of the public to exercise extreme caution in any dealings with this company.

This is a one-off public notice rather than a rule or licensing instrument; it creates no ongoing compliance obligations for regulated entities, but serves as a warning to the public and market participants about an unlicensed operator.

Applies to

mutual funds, general public, prospective investors