Administrative Penalty $310.00 - DEVONSHIRE FUNDS LTD. (2016-12-22)

Summary

This is an enforcement notice published by the BVI Financial Services Commission recording an administrative penalty imposed on Devonshire Funds Ltd. It is a factual disclosure of a completed enforcement action rather than a rule with ongoing obligations for other entities.

• Penalty: A $310.00 administrative penalty was imposed on Devonshire Funds Ltd.
• Breach: Contravention 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 BF101113/313.

The notice serves as a public record of the Commission's enforcement action and does not itself create new obligations beyond the existing statutory requirement that mutual funds submit 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