Funds Growth Omnibus Discussion Paper
7th July 2020The Guernsey Financial Services Commission has issued today 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.
Commenting on the discussion paper, Director General, William Mason said
“The proposals in our discussion paper take into account lessons learnt by practitioners and ourselves from the operation of Guernsey’s current fund regime. The reforms are designed to help the Bailiwick maintain an environment where the sector can continue to grow as we recover from Covid-19 restrictions.”
Gillian Browning, Director of the Investment, Fiduciary and Pension Division, commented “These measured proposals illustrate the Commission’s commitment to maintaining the Bailiwick’s reputation as a well-regulated financial centre. We value the views of industry and welcome feedback on the proposals via our online Consultation Hub.”
The Consultation Papers can be found at the following page on the Commission's website:
https://www.gfsc.gg/commission/legislation-and-guidance
Respondents are invited to submit their comments by 2 September 2020 using the Commission's Consultation Hub which can be found here:
https://consultationhub.gfsc.gg/