Administrative Penalty $580.00 - Value Partners Private Equity Limited (2016-02-23)

Summary

This is a public enforcement notice from the BVI Financial Services Commission recording that it imposed a fixed administrative penalty of $580.00 on Value Partners Private Equity Limited. The penalty was for failing to file audited financial statements within the statutory deadline under the Securities and Investment Business Act, 2010.

• Contravention: Breach of section 71(1) of the Securities and Investment Business Act, 2010, which requires licensees to provide a copy of their audited financial statements within six months after their financial year end.
• Specific failure: Value Partners Private Equity Limited did not submit audited financial statements for the financial year ended 31 December 2014 within the required six month period.
• Penalty imposed: An administrative penalty of $580.00 was levied by the Commission.
• Reference: Matter ID BF101113/300.

This notice is historical and informational, recording a completed enforcement action against a specific licensee rather than creating any new ongoing obligation for other entities. Other securities and investment business licensees remain subject to the underlying section 71(1) filing requirement.

Key obligations

• Licensees under the Securities and Investment Business Act, 2010 must provide a copy of their audited financial statements within six months after their financial year end (per section 71(1)).

Applies to

securities and investment business licensees