Warning Letter - Acacia Capital Management Inc (2011-10-04)

Summary

This is a warning letter published by the BVI Financial Services Commission as an enforcement action against Acacia Capital Management Inc, an investment business licensee. It records that the Commission found a specific contravention of securities legislation and issued a formal warning as a result.

• Entity: Acacia Capital Management Inc, Industry Type: Investment Business (Matter ID INV1003/117)
• Contravention: Breach of section 12(b) of the Securities and Investment Business Act, 2010, by failing to seek the Commission's prior approval before incorporating, forming or acquiring a subsidiary
• Action taken: The Commission issued a warning letter to the entity

The document is a public enforcement notice rather than a rule of general application; it does not itself impose new ongoing obligations on other licensees, but it illustrates the Commission's expectation that investment business licensees must obtain prior approval before forming or acquiring subsidiaries, per the underlying statute.

Key obligations

• Investment business licensees must seek the Commission's prior approval before incorporating, forming, or acquiring a subsidiary, as required by section 12(b) of the Securities and Investment Business Act, 2010

Applies to

Investment business licensees