Jersey launches unregulated funds regime

The Channel Island’s finance authority anticipates interest in the schemes from private equity and hedge fund managers. Funds launched under the new regime have no audit requirement, no limit on the number of investors, no investment or borrowing restrictions and no requirement for Jersey service providers. A choice of fund vehicles is available, including company, protected cell or incorporated cell company, unit trust or limited partnership. Unregulated funds will fall into one of two categories. Unregulated eligible investor funds may be open or closed-ended and are restricted to sophi...