Administrative Penalty $3,500.00 - 3MF Artemis, Ltd. formerly 3MF Artemis Fund (BVI) Ltd. (2017-09-02)

Summary

This is a notice from the BVI Financial Services Commission publishing an enforcement action against 3MF Artemis, Ltd. (formerly 3MF Artemis Fund (BVI) Ltd.). It records that the fund was fined for a specific compliance failure and serves purely as a public record of a completed enforcement action, not as an ongoing rule.

• Penalty imposed: An administrative penalty of $3,500.00 was imposed on 3MF Artemis, Ltd.
• Contravention: The fund contravened section 10(4) of the Mutual Funds Regulations, 2010.
• Underlying failure: It failed to provide a copy of its audited financial statements within six months after its financial year end of 31 December 2014.
• Reference: Matter ID: BF101113/337.

This notice does not itself impose new obligations on other entities; it is a historical enforcement record. It does, however, illustrate the Commission's expectation that mutual funds submit audited financial statements within six months of financial year end, as required under section 10(4) of the Mutual Funds Regulations, 2010.

Key obligations

• Mutual funds must provide the Commission with a copy of their audited financial statements within six months after their financial year end, as required by section 10(4) of the Mutual Funds Regulations, 2010.

Applies to

mutual funds

Deadlines

• within six months after financial year end: Deadline under section 10(4) of the Mutual Funds Regulations, 2010 for a mutual fund to provide a copy of its audited financial statements