Jersey Financial Services Commission has issued a consultation paper on proposals to streamline the authorisation process of close-ended funds.
Under the proposed ‘Listed Fund Guide’, a listed fund will have to be close-ended and could be authorised within three working days, providing it is a Jersey based company and has an investment manager which is regulated in a recognised state or jurisdiction. In addition the 43-page consultation paper, which close on 15 December, will mean the Commission will recognise the stock exchanges of EU countries, along with members of the European Free Trade Association who have ratified the European Economic Area Agreement, such as Iceland, Liechtenstein and Norway. Under the proposals, the ne...
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