BVI Securities and Investment Business Act, 2010 Now in Effect
16 Jun 2010
Certain changes must be made to the constitutional, offering and subscription documents of existing private and professional funds by 3 August 2010 and
12 October 2010 respectively in order to comply with SIBA. Obligations on existing private and professional funds in relation to financial statements and audit have also been introduced. Failure to update documents and comply with the obligations within the specified time frames highlighted in this update, may result in the BVI Financial Services Commission taking enforcement action against a non-compliant BVI fund.
Joint Managing Partner Dubai
T: +971 4 360 4073
Partner Cayman Islands
T: +1 345 814 5353