BVI regulator combines prescriptive rules with principles-based approach to hedge fund rules.

British Virgin Islands Supplement October 2010: Hedge fund ambitions

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The British Virgin Islands (BVI) Financial Services Commission (FSC) is at the centre of efforts to tighten and refine the regulatory framework for hedge funds and other forms of investment business in the jurisdiction.The recently enacted Securities & Investment Business Act (SIBA) grants the FSC broad powers to supervise all forms of securities and investment business in the BVI, including some activities that were previously unregulated in the jurisdiction. The job of implementing and