Appleby offering authorised representative services in BVI
Appleby Authorised Representative, an affiliate of Appleby Corporate Services (BVI), has been certified by the BVI Financial Services Commission to act as an authorised representative under the Securities and Investment Business Act 2010.
Under SIBA, a licensee (unless it has a significant presence in the British Virgin Islands) and a recognised or registered investment fund is required to appoint and at all times have an authorised representative in the BVI.
The main function of an authorised representative is to act as an intermediary in the BVI between the licensee or investment fund and Commission.
The authorised representative is also required to accept service of notice and documents on behalf of the licensee or fund on whose behalf it acts, attend to the payment of all fees payable by a licensee or a fund to the Commission, and maintain at its offices such records as may be prescribed by the Regulatory Code 2009 in the case of a licensee and by the Mutual Funds Regulations 2010 in the case of a recognised or registered fund.
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