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Securities and Investment Business Act, 2010 - Key Considerations for Investment Managers
With the enactment of the Securities and Investment Business Act, 2010 (“SIBA”) in the BVI, which came into force on 17 May 2010, the regulation of the BVI’s financial services industry has undergone a number of significant changes which will be relevant to users of BVI vehicles as investment managers of funds or other structures.
To facilitate the smooth transitioning of existing BVI entities into the new regulatory regime, transitional provisions exist under SIBA and the secondary legislation which accompany it, the Mutual Funds Regulations, 2010 and the Regulatory (Amendment) Code, 2010.
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