Administrative Penalty $8,000.00 - MJM INTERNATIONAL LTD. (2016-12-22)

Summary

This is a published enforcement notice from the BVI Financial Services Commission announcing an administrative penalty against MJM International Ltd. It is a one-off disclosure of a completed enforcement action, not a rule or guidance document, and imposes no ongoing obligations on other entities.

• Penalty: $8,000.00 administrative penalty imposed on MJM International 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 BF101113/339.

The notice serves as a public record and general deterrent reminder that mutual fund entities must submit audited financial statements within the statutory six month window after financial year end; it does not itself create new obligations beyond that existing regulatory requirement.

Key obligations

• Mutual funds must provide a copy of their audited financial statements to the Commission within six months after their financial year end, as required by section 10(4) of the Mutual Funds Regulations, 2010.

Applies to

mutual funds