Administrative Penalty $280.00 - Althea Group Offshore, Ltd. (2016-02-23)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing an administrative penalty imposed on Althea Group Offshore, Ltd., a mutual fund. It is purely a public record of a completed enforcement action rather than a rule imposing ongoing obligations on the wider industry.

• Penalty: $280.00 administrative penalty imposed on Althea Group Offshore, Ltd.
• Breach: Contravention of regulation 10(4) of the Mutual Fund Regulations, 2010, for failing to provide a copy of its audited financial statements within six months after its financial year end of 31 December 2014.
• Reference: Matter ID BF101113/299.

The notice serves as a public alert of the penalty and does not itself create new compliance requirements for other entities, though it illustrates the Commission's enforcement of the audited financial statement filing deadline under regulation 10(4).

Applies to

mutual funds