Administrative Penalty $7,350.00 - Alwaha Fund Limited (2016-12-13)

Summary

This is an enforcement notice published by the British Virgin Islands Financial Services Commission announcing an administrative penalty imposed on Alwaha Fund Limited. The penalty relates to a failure to submit audited financial statements within the required timeframe under the Mutual Funds Regulations, 2010.

• Entity: Alwaha Fund Limited (Matter ID: BF101113/358)
• Penalty: Administrative penalty of $7,350.00
• Contravention: 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

This notice is a record of a completed enforcement action against a named fund and does not itself create new ongoing obligations for other regulated entities. It serves as a reminder that mutual funds must submit audited financial statements to the Commission within six months of financial year end.

Key obligations

• Mutual funds must provide the Commission with 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

Deadlines

• within six months after financial year end: Deadline for mutual funds to provide the Commission with a copy of audited financial statements under section 10(4) of the Mutual Funds Regulations, 2010; Alwaha Fund Limited's financial year end was 31 December 2014