Guernsey fund reforms backed by industry

Delegates at a conference held by the Guernsey Investment Fund Association (GIFA) added their backing to the proposals which suggest focusing regulation onto licensed service providers to reduce the number and scope of funds which are directly authorised by the Guernsey Financial Services Commission (GFSC). The proposed reforms which have developed from the ‘Harwood report’, a review of the investment sector legislation and regulation carried out by a government working party, suggests there should be a "registered" fund sector, alongside the existing "regulated" sector. It claims unlike...