Administrative Penalty $580.00 - Value Partners Private Equity Limited (2017-02-23)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it imposed an administrative penalty of $580.00 on Value Partners Private Equity Limited. The penalty relates to a specific contravention of the Securities and Investment Business Act, 2010 by that named entity and does not create any ongoing rule or requirement for other firms.

• Entity penalised: Value Partners Private Equity Limited
• Contravention: Section 71(1) of the Securities and Investment Business Act, 2010, which requires submission of audited financial statements within six months after financial year end
• Failure identified: The company failed to submit its audited financial statements within six months after its financial year end of 31 December 2014
• Penalty: Administrative penalty of $580.00
• Reference: Matter ID BF101113/357

Key obligations

• Licensees under the Securities and Investment Business Act, 2010 must submit audited financial statements within six months after their financial year end (section 71(1))

Applies to

securities investment business licensees

Deadlines

• within six months after financial year end: Statutory deadline under section 71(1) of the Securities and Investment Business Act, 2010 for submitting audited financial statements, which Value Partners Private Equity Limited failed to meet for its financial year ended 31 December 2014