BVI Launches Approved Manager Regime For Fund Managers

Tune in on 28 February 2013 for a webinar on the BVI's new Approved Manager regime, presented by Harneys' funds experts. Learn more.

A new "regulation light" fund manager regime for the BVI came into effect on 10 December 2012. The Investment Business (Approved Manager) Regulations, 2012 ("Regulations") were published last month (see our earlier bulletin) but this week the Financial Services Commission has published the Approved Investment Managers Guidelines (the "Guidelines").

"The Approved Manager regime seeks to strike the right balance of flexibility and effective regulation taking into account the relative risk profile of the business carried on. I believe that the regime achieves this and will prove to be an attractive option for fund managers seeking to commence business quickly and in a cost effective manner," said Ross Munro, global head of investment funds at Harneys. Munro is also chairman of the Securities, Investment Business and Mutual Funds