Guernsey Funds Forum To Discuss New AIFM Manager Led Product
by Jason Gorringe, Lowtax.net, London
09 May, 2016
This year's Guernsey Funds Forum, hosted by Guernsey Finance in conjunction with the Guernsey Investment Fund Association, will discuss the proposed introduction of a new "Manager Led Product" regime for the regulation of Alternative Investment Fund Managers.
The Manager Led Product (MLP) aims to ensure a proportionate risk-based level of product regulation for any Alternative Investment Fund Manager (AIFM) that establishes itself in Guernsey and seeks to market into Europe under the National Private Placement Regime arrangements. The introduction of the MLP would place the regulations on the AIFM only.
Guernsey Finance Chief Executive, Dominic Wheatley, said: "The MLP has come about through discussions between the GFSC and industry practitioners. The main attraction is that the MLP will allow one AIFM to absorb all the incidence of conduct and capital adequacy rules, permitting many fund structures - whether limited partnerships or other - to exist under its banner. The fact that we will have representatives from the GFSC at the event to answer any questions that people may have is a very positive step."
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