Guernsey Launches 'Manager-Led Product'
by Jason Gorringe, Lowtax.net, London
17 May, 2016
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."
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