Industry faces challenges

British Virgin Islands: Sailing through turbulent waters: May 2009

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These are challenging times for the British Virgin Islands (BVI) hedge fund industry. The jurisdiction is feeling the pinch of the global financial crisis. Like other offshore jurisdictions, it is also facing the prospect of having to adapt to a sea change in international attitudes towards the supervision and regulation of hedge funds and financial services in general.

The BVI is the world’s second largest jurisdiction for hedge fund domiciliation behind the Cayman Islands. Th