Regulatory AlertsPublic Funds Code (Revised 2020)
Issued by the British Virgin Islands Financial Services Commission under the Securities and Investment Business Act, this revised Code establishes comprehensive delegated legislation governing the operation, governance, and oversight of public funds. It mandates strict compliance with high-level principles, detailed prospectus and corporate governance standards, independent valuation processes, robust custodial arrangements, and continuous reporting obligations to the Commission. The Code carries full legal force as subsidiary legislation, empowering the Commission to enforce compliance through directives, investigations, and administrative penalties while allowing for purposive interpretation and targeted amendments.
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