Regulatory AlertsSecurities and Investment Business (Incubator and Approved Funds) Regulations 2020
The Financial Services Commission of the Virgin Islands establishes a streamlined regulatory framework for incubator and approved funds, granting deemed approval within two business days of receiving a complete application. These funds must adhere to strict operational and investment thresholds, including a maximum of twenty investors and net asset limits of $20 million for incubator funds or $100 million for approved funds. The regulations mandate ongoing compliance through mandatory valuation policies, director and administrator requirements, timely reporting of material changes, and clear pathways for forced or voluntary conversion into private or professional funds upon exceeding thresholds or reaching validity expiry.
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