JFSC moves to 72-hour fund approval

Jersey Financial Services Commission (JFSC) is to streamline its authorisation regime for listed investment funds. This means investment funds listed on the Channel Islands Stock Exchange will now be subject to a 72-hour approval procedure. The funds include private equity, property and other alternative investment vehicles such as hedge funds and funds of hedge funds. It also applies to closed-ended funds. The industry is also consulting on extending this regime to Jersey limited partnerships and unit trusts at a later date. The proposals will operate on a similar fashion to the existin...