Guernsey's QIF scheme removes funds' red tape

Guernsey's latest move to reduce red tape for its fund industry may have the side-effect of allowing both financial advisers and their clients access to all funds registered under the new Qualifying Investor Fund (QIF) scheme. The regulatory revamp was originally intended to help the local fund administration businesses register funds rapidly – within three days – as long as the intended investors were professionals or institutions. The intention was to protect lone investors from getting access to difficult to understand, unrestricted funds. However, the definition of 'qualifying' covers ...