Lifting of Directive - Porcupine Global Macro Plus Inc. (2013-09-20)

Summary

This is a BVI Financial Services Commission enforcement action notice announcing that a regulatory Directive originally issued on 15 August 2011, and amended on 25 January 2013, against a group of public funds managed by Castlestone Management Incorporated has been lifted. The notice is purely informational and confirms the funds are no longer subject to the Directive as of 20 September 2013.

• Effect: The Commission's Directive against the listed funds is no longer in effect from 20 September 2013.
• Funds affected: Eighteen public funds under the management of Castlestone Management Incorporated, including Porcupine Global Macro Plus Inc., Porcupine Absolute Return Fund Inc., Aliquot Agriculture Fund Inc., and others named in the notice.
• Matter reference: Matter ID INV092013/157, Licence Type: Public Funds, Industry Type: Investment Business.

No ongoing obligations are created by this notice; it simply records the withdrawal of a prior restrictive Directive that had applied to these funds.

Applies to

Public Funds, Investment Business licensees

Deadlines

• 20 September, 2013: Date on which the Commission's decision to lift the Directive against the listed funds took effect.