Revocation of Licenses/Certificate - Old Union Growth Fund Ltd (2012-03-22)

Summary

This is an enforcement notice from the BVI Financial Services Commission announcing the revocation of the certificate of recognition held by Old Union Growth Fund Ltd. 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: Old Union Growth Fund Ltd (Matter ID: INV0127/018)
• Industry type: Investment Business (mutual fund)
• Ground for revocation: Failure to pay annual recognition fees for the prescribed or approved period
• Action taken: Certificate of recognition revoked by the Commission

This notice is purely informational, recording a completed enforcement action against a named fund; it does not itself impose ongoing obligations on other market participants beyond the general requirement (already established elsewhere) that recognized funds pay their annual recognition fees on time.

Applies to

mutual funds, investment business licensees