Guernsey Launches 'Manager-Led Product'

Guernsey's Financial Service Commission has announced the launch of the new "Manager-Led Product" regulatory regime, aimed exclusively at Alternative Investment Fund Managers, and has issued a related guidance note.

As announced during an earlier consultation, the Manager-Led Product, under the first phase, is aimed at Alternative Investment Fund Managers seeking to market an Alternative Investment Fund in Europe under the National Private Placement Regime.

The Manager-Led Product is intended to ensure a proportionate risk-based level of regulation while maintaining reporting requirements, with regulation focused solely on fund managers. It is intended that the new regime will remove duplicate regulatory requirements.

The Commission said: "The next phase will be the development of a product using the same principles, but with a discrete set of rules enabling managers to target markets excluding Europe."