Regulatory AlertsInvestment Business (Approved Managers) Regulations 2020
The Financial Services Commission of the British Virgin Islands promulgates these regulations to establish a streamlined approval framework for investment managers, granting them licensee status while exempting them from standard licensing procedures. The framework mandates a structured application process requiring fit-and-proper declarations, prescribed documentation, and fee payments, allowing provisional operations for up to 30 days pending final approval. Approved managers must fulfill ongoing obligations including annual returns, financial statement submissions, and a $400 million assets-under-management threshold, with clear pathways for license conversion or continued operation if thresholds are exceeded.
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