BVI simplifies regulatory regime for small hedge funds
Hedge Funds Review - Saturday, December 29th, 2012 at 11:07 AM
The British Virgin Islands (BVI) is introducing a simplified regulatory approval process that will make it easier for small asset managers and start-ups to launch hedge funds in the jurisdiction.
The BVI’s Financial Services Commission (FSC) has approved a more simplified regulatory regime for small hedge funds.
The new rules in the form of approved manager regulations came into force on December 10 in the Caribbean jurisdiction.
The rules apply to asset managers running less than $400 million in open-ended funds or less than $1 billion in close-ended funds.
These managers no longer have to secure a full investment business license from the regulator to operate in the jurisdiction, a process that takes a minimum of four weeks.
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