Appointment of Examiner - Aliquot Commodity Fund Inc. (2011-12-20)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it has appointed Grant Thornton UK LLP as an examiner (competent person) under section 36(1)(a) of the Financial Services Commission Act, 2001 to investigate Castlestone Management Incorporated, the fund manager for a group of public funds including Aliquot Commodity Fund Inc.

• Scope of examination: The examiner is to investigate fees and expenses charged to the funds, and assess the adequacy of internal controls, corporate governance and the independence of the funds' directors.
• Funds covered: Aliquot Agriculture Fund Inc., Aliquot Commodity Fund Inc., Aliquot Gold Bullion Inc., Aliquot Precious Metals Inc., Collection of Modern Art Inc., Consistent Return (Cash Management Fund) Inc., Next 11 Emerging Markets Fund Inc., and Porcupine Global Macro Plus Incorporated.
• Output: The examiner must report its findings to the Commission.

This is a public enforcement alert recording action already taken by the Commission; it does not itself impose ongoing filing or compliance obligations on third parties beyond the funds and manager under examination.

Applies to

public funds, investment business licensees, fund manager