Warning Letter - Sofaer Administration Limited (2011-10-04)

Summary

This is a public enforcement notice from the BVI Financial Services Commission recording a warning letter issued to Sofaer Administration Limited. It is a factual record of past enforcement action rather than a rule imposing new ongoing requirements on the industry.

• Entity warned: Sofaer Administration Limited, licensed as a Fund Administrator (Matter ID: INV1003/118).
• Basis of warning: Contravention of section 4(1) of the Securities and Investment Business Act, 2010, by carrying on investment business in or from within the Virgin Islands without the Commission's prior authorization to carry on that kind of investment business.
• Nature of document: A published enforcement alert summarizing the warning issued; it does not set out new obligations for other regulated entities.

The notice serves as a public record and industry alert of the Commission's enforcement action against this specific entity for unauthorized investment business activity.

Applies to

Fund Administrator, Investment Business