Revocation of Licenses/Certificate - Lazars International Fund Limited (2012-03-22)

Summary

This is a BVI Financial Services Commission enforcement notice announcing the revocation of the certificate of recognition of Lazars International Fund Limited, an investment business entity. The action was taken because the fund failed to pay its annual recognition fees for the prescribed or approved period, in breach of the fee regulations.

• Entity: Lazars International Fund Limited (Matter ID: INV0127/018)
• Action taken: Revocation of certificate of recognition
• Reason: Contravention of Regulation 2 of the Financial Services Commission (Securities and Investment Business Fees) (Amendment) Regulations, 2010, by failing to pay annual recognition fees for the prescribed or approved period

This is a one-off public enforcement disclosure concerning a specific fund rather than a rule of general application, so it imposes no ongoing obligations on other regulated entities. It does, however, serve as a reminder to recognised funds and investment businesses that timely payment of annual fees is required to maintain their certificate of recognition.

Applies to

investment business, recognised mutual fund