Investment Archives

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

GFSC / By Adam

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

GFSC / By Adam

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

GFSC / By Adam

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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June Quarter 2020 Investment Statistics

GFSC / By Adam

Full statistics are available here. To view this notification in full, please click here. For further information or guidance, please contact the team at Aspida via info@aspidagroup.com Your partner in protecting and growing your business Subscribe to receive our latest news, views and event information SUBSCRIBE

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

GFSC / By Adam

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

GFSC / By Adam

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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Commission Consults on Fees for 2021

GFSC / By Adam

The Commission has launched a consultation paper on proposals for increasing the licence fees paid by firms. The proposals are for an increase of 2.1% across all sectors, based upon Guernsey’s RPI, together with the introduction of a modest fee for fast track applications of £500. The consultation period will be from the 4th of …

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Home Working – Information Security Risks

GFSC / By Adam

The restrictions imposed upon the Bailiwick as a result of the Covid-19 pandemic has seen an acceleration in the adoption of home working. Due to the potential increase in information security risks incurred as a result home working, the GFSC have published a non-exhaustive summary for licensees to consider. The summary is intended as a …

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Funds Growth Omnibus Discussion Paper

GFSC / By Adam

The Commission has issued a discussion paper making proposals aimed at ensuring that the Guernsey funds framework remains fit for purpose while helping to create opportunities for growth. Amongst other proposals to increase efficiency and clarity, the discussion paper proposes widening the formation options for Private Investment Funds. The Discussion paper contains 16 questions and …

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