Administrative Penalty $3,500.00 - Brazil Real Estate Ltd. formerly Brazil Real Estate Fund Ltd. (2017-09-02)

Summary

This is a published enforcement notice from the BVI Financial Services Commission recording an administrative penalty against Brazil Real Estate Ltd. (formerly Brazil Real Estate Fund Ltd.). It is purely informational, documenting a completed enforcement action rather than creating any new ongoing rule or requirement for other entities.

• Entity penalised: Brazil Real Estate Ltd., formerly Brazil Real Estate Fund Ltd. (Matter ID: BF101113/334)
• Penalty amount: $3,500.00
• Basis for penalty: Contravention of section 10(4) of the Mutual Funds Regulations, 2010
• Nature of breach: Failure to provide a copy of its audited financial statements within six months after its financial year end of 31 December 2014

The notice serves as a public record of the Commission's enforcement activity and a reminder that mutual funds must submit audited financial statements within six months of financial year end under the Mutual Funds Regulations, 2010. It does not itself impose any new obligation on other regulated entities.

Key obligations

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

Applies to

mutual funds

Deadlines

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