Investment

Commission consults on increasing Private Investment Fund (PIF) options

The Commission has published a Consultation Paper containing proposals, which, if implemented, would allow different investor categories to take advantage of an appropriately regulated fund structure. The proposed amendments would complete the current approach for registering PIFs. To see the Consultation Paper, click here. To view this notification in full, please click here. For further […]

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Commission proposes derogation of non-Guernsey Fund Scheme Rules

The Commission has published a Consultation Paper seeking feedback on proposals for changes to the Non-Guernsey Scheme regime. If the proposal is implemented any entity undertaking a restricted activity in or from within the Bailiwick in connection with a collective investment scheme (wherever domiciled) will still be required to be licensed under the PoI Law.  

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Commission clarifies boundaries of Custodians’ duties

The Commission has published new guidance aimed at providing clarification about Designated Custodians’ duties and the standards of conduct that are expected of them when they act for Open-Ended Collective Investment Schemes. Designated Custodian should be able to demonstrate knowledge of the underlying assets of the scheme in order to mitigate the risk of the

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Changes to how the Commission distributes Annual Fee Invoices to Licensees and Registrants

The Commission is changing the way it distributes its annual license fee invoices, starting with the 2021 fees. Email addresses for all regulated and registered entities have been prepared and if you wish to check which email address the Commission holds for your firm please contact accounts@gfsc.gg. The Commission will no longer be distributing annual

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Consultation Paper on Guidance for Custodians of Open-ended Collective Investment Schemes with Indirectly Held Assets

The Commission has issued a Consultation Paper seeking views from interested parties on a proposed Guidance Note for Custodians of open-ended collective investment schemes made under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (the “PoI Law”). Rules made under the PoI Law for authorised and registered open-ended collective investment schemes place requirements on

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Discussion Papers on Ancillary Vehicles and the New Fiduciary Licence Categorisation

The Commission has issued 2 discussion papers (DP’s) on proposals concerning rules to be made following the approval of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “2020 Fiduciaries Law”) and the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (the “2020 PoI Law”). The first DP

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