Guernsey Financial Services Commission (GFSC) has signed a memorandum of understanding (MoU) with the Swiss Financial Market Supervisory Authority (FINMA) for the distribution of investment funds to retail investors.
The MoU will allow close cooperation between the two authorities as well as exchange of information, cross border on-site visits and assistance in the enforcement of each jurisdiction’s laws.
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The agreement will also offer an effective framework between the two authorities for the exchange of information and other supervisory support related to the distribution of investment funds to retail investors.
Additionally, the MoU will strengthen investor protection and enhance the cross-border distribution of investment funds to retail investors in or from Switzerland.
Fiona Le Poidevin, CEO of Guernsey Finance, said: "There are already a number of managers with funds, especially open-ended schemes, which are distributed into Switzerland and this MoU means that Guernsey remains an attractive domicile for those seeking to raise capital from the Swiss market."
Carl Rosumek, director of investment supervision and policy at the GFSC, said: "The completion of this agreement is a positive endorsement of the Commission and the important work it undertakes on behalf of Guernsey."
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