The Anguilla Financial Services Commission today granted its fast-track procedure for the domiciliation of hedge and mutual funds to local fund administrator, Folio Administrators (Anguilla) Limited. The fast track procedure formally known as the qualified fund administrator/intermediary status was created by the Commission to provide for the efficient formation of hedge and mutual funds within 24 hours.

The launching of the Financial Services Commission in effect demonstrates Anguilla’s recognition of the importance of sound regulation to the development and promotion of the financial services sector.