All Upcoming Courses > Courses by date > September 2010 > LCF791

BVI Securities and Investment Business Act, 2010 - Implications for Fund Management Business  

Piers Alexander Partner, Conyers Dill & Pearman
Date: 2 September 2010, Thursday
Time: 10:00 am to 12:10 pm
Level: Update
Accreditations:
CPD Law:   2.0
CPT SFC:   2.0
CE IFPHK:   2.0
CFA CE / SER*:   2.0 / 2.0
Fee: HK$ 1,300
HK$ 1,105 - 15% off for those who register online
Certificate of Attendance: HK$30 for members who register online per course
HK$50 for non-members per course
Language: English
Course Code: LCF791
Venue: Courses & Seminars Limited
22nd Floor,
100 Queen's Road Central,
Hong Kong
MAP
   
Categories: Funds
Hedge Funds
Offshore Jurisdictions
  
*
As a participant in the CFA Institute Approved-Provider Program Courses & Seminars has determined that this program is eligible for 2 credit hours, inclusive of 2 hours in the content areas of Standards, Ethics, and Regulations (SER). If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.

 
Course Details
The British Virgin Islands has enacted the Securities and Investment Business Act, 2010 ("SIBA") after much anticipation. This new Act is the principal legislation regulating the administration of investment funds (including hedge funds) and entities conducting investment or securities business and has replaced the Mutual Funds Act, 1996. This course will give a comprehensive overview of SIBA as well as changes that will need to be made due to the enactment of SIBA.
 
Highlights of the course include:

  • Regulation of Funds:
    • Provisions adopted from the repealed Mutual Funds Act
    • Changes in SIBA
      • Director requirement
      • Audit requirement
      • Resident authorised representative requirement
      • Minimum initial investment
      • Functionaries and notifications
    • Mutual Fund Regulations
    • Public Funds Code
    • Implications for existing BVI funds: consequential changes to constitutional & offering documents
  • Investment business licencing regime
    • Types of activities requiring to be licenced
    • Approved persons regime
    • Exemptions: excluded activity / excluded persons
    • Scope of licence
    • Ongoing compliance and controls
  • Offering of securities regime
    • Public issue provisions
    • Exclusions e.g. qualified investors, etc.
  • Market abuse regime
  • Transitional provisions