Lifting of Directive - Aliquot Gold Bullion Inc. (2013-09-20)

Summary

This is an enforcement notice from the BVI Financial Services Commission announcing that it has lifted a Directive originally issued on 15 August 2011 (as amended on 25 January 2013) against a group of funds managed by Castlestone Management Incorporated. The Directive ceased to have effect from 20 September 2013.

• Funds covered: The lifted Directive applied to 18 named public funds under Castlestone Management Incorporated, including Aliquot Gold Bullion Inc., Aliquot Agriculture Fund Inc., Global Property Growth & Income REITS Fund Inc., Aliquot Commodity Fund Inc., Inflation Target Recovery Fund Inc., Aliquot Gold & Precious Metals Equities Fund Inc., Intelligent Portfolio (IQ-Asset Allocation) Inc., Next 11 Emerging Fund Inc., Aliquot Precious Metals Inc., Porcupine Absolute Return Fund Inc., Balanced Opportunity Inc., Systematic Growth Fund Inc., Collection of Modern Art Inc., World Index Growth and Income Fund Inc., Concerto Alternative Alpha Inc., Consistent Return (Cash Management) Fund Inc., Emerging Markets Growth And Income Fund Inc., and Porcupine Global Macro Plus Inc.
• Effect of notice: The Commission's decision to lift the Directive means it is no longer in effect as of 20 September 2013; the notice does not describe why the original Directive was imposed or impose any new obligations.
• Licence type: Public Funds (Investment Business), Matter ID INV092013/157.

This is a purely informational enforcement update confirming the removal of a prior regulatory restriction; it does not itself create any ongoing compliance obligations for the funds or their manager.

Applies to

Public Funds, Investment Business licensees

Deadlines

• 20 September 2013: Date from which the Commission's Directive against the listed Castlestone-managed funds ceased to be in effect.