Administrative Penalty $3,500.00 - Sphera Fund-Corporate L.P. (2017-01-20)

Summary

This is a short enforcement notice published by the BVI Financial Services Commission announcing that it imposed an administrative penalty of $3,500.00 on Sphera Fund-Corporate L.P. The penalty was levied under sections 37(1)(a)(i) and 37(2)(f) of the Financial Services Commission Act, 2001, for a contravention of regulation 10(4) of the Mutual Funds Regulations, 2010.

• Entity: Sphera Fund-Corporate L.P., a mutual fund entity regulated by the Commission.
• Basis of penalty: Contravention of regulation 10(4) of the Mutual Funds Regulations, 2010.
• Legal authority: Sections 37(1)(a)(i) and 37(2)(f) of the Financial Services Commission Act, 2001.
• Amount: Administrative penalty of $3,500.00.
• Reference: Matter ID BF101113/385.

The notice is purely informational, recording a completed enforcement outcome rather than imposing any new or ongoing obligation on other regulated entities or on Sphera Fund-Corporate L.P. beyond payment of the fixed penalty already assessed.

Applies to

mutual funds