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