Regulatory Alerts2002-01-18
Virgin Islands Mutual Funds Act, 1996
Enacted by the Legislature of the Virgin Islands, this legislation establishes a comprehensive regulatory framework for mutual funds, their managers, and administrators operating within or from the Territory. It mandates public funds to obtain registration and publish prospectuses with full financial disclosures, while private funds require recognition and licensed managers must secure operational authorization. The appointed Registrar of Mutual Funds, supported by an Advisory Committee, oversees compliance through maintained registers, audited financial statements, investor rights enforcement, and defined penalties for offences.
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