Regulatory Alerts2024-12-04
Financial Services (Limited Partnership Fees) (Amendment) Regulations, 2024
The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the Financial Services (Limited Partnership Fees) Regulations, 2020. The amendments introduce new definitions, update fee structures for various filings, and establish detailed penalty schedules for late submissions and contraventions of the Limited Partnership Act. These changes are designed to enforce compliance with registration, beneficial ownership, and record-keeping obligations through a tiered system of administrative fines.
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