Guernsey Relaxes License Rules For UK, IoM, Jersey Firms
by Jason Gorringe, Lowtax.net, London
18 October, 2017
Guernsey's Policy & Resources Committee has made regulations removing the local licensing requirement for UK, Jersey, and Isle of Man firms promoting certain regulated products on the island.
Under The Investor Protection (Designated Countries and Territories) (Bailiwick of Guernsey) Regulations, 2017, firms based in the UK, Jersey, and Isle of Man may promote controlled investments to certain Guernsey licensed entities without a license.
Specifically, the licensing requirement is removed for promotion carried on in connection with UK authorised unit trust schemes, Jersey collective investment funds, and Isle of Man authorised schemes. This is on the basis that the laws of the UK, Jersey, and Isle of Man provide adequate protection to Guernsey investors.
To benefit from license free trading, certain requirements must be met, including the completion of a simple web-based notification form.
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