Administrative Penalty $3,500.00 - Orionis Fund Ltd. formerly Rig II Fund Ltd (2017-02-16)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing an administrative penalty against Orionis Fund Ltd, formerly Rig II Fund Ltd. It is a historical record of a completed enforcement action rather than a rule imposing ongoing obligations on other entities.

• Penalty: $3,500.00 administrative penalty imposed on Orionis Fund Ltd (formerly Rig II Fund Ltd).
• Contravention: Breach of section 10(4) of the Mutual Funds 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 BF101113/348.

The notice serves as a public record of the fine and the underlying breach; it does not itself create new compliance requirements for other mutual funds beyond reaffirming the existing statutory duty to file audited financial statements within six months of financial year end.

Key obligations

• Mutual funds must provide 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