Administrative Penalty $3,500.00 - LUNOM VICTOIRE FUND LTD. (2017-02-16)

Summary

This is an enforcement notice from the BVI Financial Services Commission publicising an administrative penalty imposed on LUNOM VICTOIRE FUND LTD. It is a one-off historical record of a specific breach, not a rule of general application, though it illustrates the Commission's enforcement of audited financial statement filing deadlines under the Mutual Funds Regulations.

• Penalty: $3,500.00 administrative fine imposed on LUNOM VICTOIRE FUND LTD.
• Breach: Contravention of section 10(4) of the Mutual Funds Regulations, 2010.
• Nature of failure: Failure to provide a copy of audited financial statements within six months after the fund's financial year end of 31 December 2014.
• Reference: Matter ID BF101113/347.

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 to the Commission; LUNOM VICTOIRE FUND LTD. missed this deadline for its 31 December 2014 financial year end.