Explanatory Note - Surrender of the Authorisation or Registration of Collective Investment Schemes

The Commission has today issued an amended version of its Explanatory Note regarding the surrender of the authorisation or registration of collective investment schemes. The amendments reflect feedback received from industry and practical experience of implementation over the one-year period since the publication of the original Explanatory Note and provide for a more flexible approach to the Commission’s consideration of the granting of consent to the surrender of a scheme’s authorisation or registration, as required under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (“the POI Law”).

Relevant persons are reminded that where a collective investment scheme remains authorised or registered under the POI Law as at 1 January 2025 (including where such authorisation or registration is suspended), then the Commission’s (non-refundable) annual fee for 2025 will apply.