Guernsey Proposes New Funds Sector Offering
by Jason Gorringe, Lowtax.net, London
17 October, 2016
Guernsey's financial services regulator, the Guernsey Financial Services Commission, is consulting on proposals to introduce a regime for private investment funds.
The consultation evolved from discussions between the Commission and industry, which began with the Manager-Led Product. The Manager-Led Product, launched in May 2016, is aimed at Alternative Investment Fund Managers seeking to market an Alternative Investment Fund into a host country in Europe under the National Private Placement Regime.
Discussions between the Commission and industry over the Manager-Led Product led to the recognition of a gap in the current suite of investment products - between the areas where the Commission gives an opinion that a product does not appear to be a fund, and the existing authorized and registered collective investment scheme products.
Copies of the consultation documents on the proposed regime for private investment funds, including rules, will be circulated to already known interested parties or may be requested by emailing Mark Le Page at the regulator.
The Commission said it welcomes any comments on the proposals and, in particular, views on whether the characteristics of the "Private Investment Fund" have been defined appropriately.
The consultation process will close on November 9, 2016.
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