Updated regulations could give the British Virgin Islands (BVI) an edge in attracting more hedge fund domiciliations to the jurisdiction.
The regulatory framework for investment and securities business is undergoing major change, says Brodrick Penn, British Virgin Islands Financial Services Commission director of investment business.
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Disappointing returns have raised questions about the ability of fund of hedge funds (FoHFs) to manage risk effectively in a volatile market environment. Risk management is now top of the agenda.
Ernst & Young plans to open an office in the British Virgin Islands (BVI), a major boost to the jurisdiction that has strived to attract internationally recognised hedge fund service providers.
Selecting a fund administrator can be crucial to the success of a hedge fund. Managers and investors believe the choice has a significant impact on the fund’s ability to seek and retain capital.
British Virgin Islands fund administrators comprise a number of independent players specialising in servicing small and mid-sized hedge funds with an emphasis on tailored solutions and client service.
Advising investors dealing with distressed hedge funds as well as restructuring forms the bulk of work by British Virgin Islands lawyers although fund formation work is starting to pick up.
The British Virgin Islands has passed the Securities & Investment Business Act (SIBA). The law fine-tunes the framework for investment funds and could give the BVI an edge in offshore funds business.
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.
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