Regulatory AlertsMutual Funds (Foreign Funds) Regulations 2020
The Virgin Islands Financial Services Commission issued these regulations to establish a comprehensive recognition framework for foreign mutual funds operating locally. Recognised funds must submit detailed applications, maintain designated functionaries including a manager and administrator, adhere to international valuation and accounting standards, and comply with prospectus and audit requirements. The regulations mandate timely notifications for key appointments, structural changes, and regulatory actions, while granting the Commission discretion to approve shorter notice periods or custodian exemptions.
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