Jersey Finance has confirmed the jurisdiction’s plans to launch new fund regulations as part of its strategy to meet the requirements of the Alternative Investment Fund Managers Directive (AIFMD).
Geoff Cook, chief executive of Jersey Finance, said: "We are confident that we will satisfy the criteria to comply with the AIFMD and remain attractive both for ongoing ‘business as usual’ activity with Europe and also the increasing volume of business targeting markets outside the Eurozone.
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At the same time, there is also evidence of an uptake of new entrants from the funds sector having an enhanced presence and in some cases opening new offices in Jersey."
More than 350 practitioners including lawyers, fund managers and other finance professionals were given this update on Jersey’s positioning as a jurisdiction to attract international fund professionals.
The venue was the British Film Institute IMAX theatre near London’s Waterloo train station. It enabled Jersey Finance to accommodate a greater number of delegates than in previous years. A specially prepared short film was screened in which delegates were given an introduction in 3D to Jersey’s finance industry.
In addition to contributions from Jersey based speakers, there were presentations and comment from specialist practitioners in London including representatives from the European Private Equity and Venture Capital Association.
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By GlobalDataJersey will create an opt-in regime for managers wishing to market to European investors by mirroring EU requirements, through private placement arrangements with individual EU countries.
They will enable a process to enable individual agreements to be signed between Jersey’s regulator and the regulators of EU member states.
