It imposed a £42,000 penalty on Louvre, £24,000 on executive director Kevin Gilligan and £10,500 on executive director Charles Tracy.
The commission found that all failed to act in accordance with the minimum criteria for licensing under the Protection of Investors Law.
Louvre took over as the designated administrator of an authorised collective investment scheme in August 2013.
The fund was a protected cell company with three cells.
Mr Gilligan is the managing director of Louvre and was a director of the fund from October 2013 until September 2015.
Mr Tracy is the chairman and compliance officer of Louvre.
The commission found that Louvre demonstrated a lack of understanding of the risk profile of the fund and its main underlying investment.
Louvre had a number of concerns about the fund, but allowed it to continue pre-existing actions that had 'a dubious benefit' to investors.
