Revocation of Licenses/Certificate - K2 Emerging Market Fund Limited (2012-03-22)

Summary

This is an enforcement notice issued by the BVI Financial Services Commission announcing the revocation of the certificate of recognition held by K2 Emerging Market Fund Limited. The action was taken because the fund failed to pay its annual recognition fees for the prescribed or approved period, in contravention of Regulation 2 of the Financial Services Commission (Securities and Investment Business Fees) (Amendment) Regulations, 2010.

• Entity affected: K2 Emerging Market Fund Limited (Matter ID: INV0127/018), classified under Investment Business.
• Grounds for revocation: Failure to pay annual recognition fees as required under Regulation 2 of the 2010 Fees Amendment Regulations.
• Action taken: The Commission revoked the fund's certificate of recognition.

This notice is specific to the named fund and does not impose new ongoing obligations on other regulated entities, though it illustrates the Commission's practice of revoking recognition for non-payment of statutory fees.

Applies to

mutual funds, recognized funds, investment business entities