Administrative Penalty $460.00 - Eastern European Special Situations Fund Ltd. (2016-12-22)

Summary

This is a public enforcement notice from the BVI Financial Services Commission recording an administrative penalty issued against Eastern European Special Situations Fund Ltd. It is purely informational, disclosing a past enforcement action rather than imposing any new ongoing requirement on the wider industry.

• Penalty: A $460.00 administrative penalty was imposed on the fund.
• Contravention: The fund breached section 10(4) of the Mutual Funds Regulations, 2010 by failing to provide a copy of its audited financial statements within six months after its financial year end of 31 December 2014.
• Matter reference: The Commission's file reference for this matter is BF101113/311.

The notice does not create new obligations for other regulated entities; it serves as a public record of a specific past compliance failure and the resulting fine. It illustrates the Commission's expectation that mutual funds file audited financial statements within six months of financial year end.

Applies to

mutual funds