Funds Bulletin, December 2012

O’Neal Webster

BVI Investment Funds
December 2012
In This Issue
New ‘Approved Manager’ Regulations now enforce
Changing Gears – BVI Investment Funds are moving from strength to strength
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Kerry Anderson

Kerry heads the Investment Funds and Regulatory Team at O’Neal Webster. He advises BVI, US and EU-based fund managers and has published several articles in industry publications. Other clients include closed-ended funds, open-ended funds acting as professional, private and public funds and segregated portfolio company funds.
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Christopher Simpson



Christopher advises on all aspects of the formation, maintenance and restructuring of BVI investments funds. He also has extensive experience on a wide range of corporate and finance matters. 


TOPBVI Funds – Update

Dear Marianne,


May we take this opportunity to wish you a happy holiday season and a prosperous 2013!


AnnualRecNew ‘Approved Manager’ Regulations for Investment Schemes
by Kerry Anderson


Earlier this year, I wrote an article entitled "Why you should choose the BVI for your next Fund." Since then new regulations ushering in an "Approved Managers" regime have been published and as of December 10, 2012 are now enforce. The effect of these new regulations is to make the BVI an attractive option for setting up as an investment manager.

Under the Investment Business (Approved Managers) Regulations, 2012 a person who qualifies as an Approved Manager now has a fast-track approval process to operate as an investment manager or investment adviser for BVI funds (or certain non-BVI funds) as well as a more lightly regulated regime with which to comply.

A person who wishes to conduct business as an approved manager need only submit a complete application to the BVI regulator, the Financial Services Commission at least 7 days prior to commencing business. Provided, the applicant is otherwise eligible, then he can begin to conduct business as a BVI fund manager. The regulator will review and make a determination on the application within 30 days or less, but if necessary, has power to extend the period for making a determination by an additional 30 days. read more               

Changing Gears – BVI Investment Funds are moving from strength to strength

By Christopher Simpson


The British Virgin Islands ("BVI") is the world’s second largest offshore investment funds domicile with close to 3,000 registered funds and growing. BVI funds are governed by the Securities and Investment Business Act, 2010 ("SIBA") and the Mutual Fund Regulations, 2010 both successors to the renowned and highly successful Mutual Funds Act of 1996. read more 

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ContactUsFor more information or for advice please contact Kerry Anderson ( or Christopher Simpson ( ).



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