Legal & Regulation

Why Guernsey is the alternative choice

Mon, 16/07/2018 - 13:00

By Dominic Wheatley, Guernsey Finance – Guernsey’s funds sector has developed over the past 50 years, since the first funds were formed in the island in the 1960s, and is now recognised as a leading centre of excellence for a range of alternatives. This process has been accelerated in recent years as shrinking returns from traditional investment fund strategies are making the alternatives sector more attractive to investors. Guernsey has built up and is now recognised for its expertise in alternatives, particularly private equity but also in infrastructure, Real Estate Investment Trusts, and alternative finance. »

GDPR priorities

Mon, 16/07/2018 - 13:00

By Craig Cordle – Data protection and privacy laws have been reformed across Europe by Regulation (EU) 2016/679, commonly known as the General Data Protection Regulation (GDPR) which came into force on 25 May 2018. The GDPR builds on existing legislation and seeks to harmonise and enhance data protection and privacy laws across the EU. It also introduces significant fines in respect of breaches. »

Providing stability, security and substance

Mon, 16/07/2018 - 13:00

By Paul Smith, Guernsey Investment Fund Association – In an era when uncertainty and the unexpected can be relied upon to spoil the best-laid plans, Guernsey is one jurisdiction able to provide a stable, secure base from which to operate, and has the infrastructure and resources to ensure the highest levels of service quality while also being able to provide businesses with true substance. »

Overcoming the myth of the passport

Mon, 16/07/2018 - 13:00

By Martin Scott, International Administration Group (Guernsey) – Two years ago, almost to the day, Guernsey was set to receive the Alternative Investment Fund Managers Directive (AIFMD) passport to allow marketing of Guernsey funds across Europe. Then Brexit and politics took over, and the likelihood of the European Union extending the AIFMD passport to third countries now appears remote until the UK and EU have reached a trade agreement with respect to financial services. It therefore appears probable that National Private Placement Regimes (NPPRs) will remain in place for the foreseeable future. »

Guernsey highlights the positive over Brexit

Mon, 16/07/2018 - 13:00

By Dr Andy Sloan - Two years on from the UK’s Brexit referendum vote and with the recent publication of the UK’s White Paper, it is useful to take stock of the potential impact of Brexit on global financial services and Guernsey’s trading relationships. »

Hitting the sweet spot

Mon, 16/07/2018 - 13:00

By Andrew Harding - Ahead of the World Cup The Economist ran an article entitled “What makes a country good at football?” The journal explored the various components of a successful national side, taking account of GDP, population size and the popularity of the game in each country. »

Jersey FSC issues final ICO guidance note

Mon, 16/07/2018 - 09:44

The Jersey Financial Services Commission (JFSC) has released its final guidance note in relation to Initial Coin Offerings (ICOs). »

FM Capital Partners wins global fraud case against former CEO

Wed, 11/07/2018 - 18:58

Alternative asset management group FM Capital Partners (FMCP), has secured a judgment against Frederic Marino, its former CEO, and former Julius Baer banker, Yoshiki Ohmura, in respect of multiple acts of fraud and corruption. »

Hong Kong SFC fines Citigroup Global Markets Asia HKD4 million for alternative liquidity pool failures

Wed, 11/07/2018 - 18:01

The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined Citigroup Global Markets Asia Limited (CGMAL) HKD4 million over regulatory breaches in relation to the operations of its alternative, or dark, liquidity pool. »

Forty per cent of financial firms at risk of MiFID II penalties, research reveals

Thu, 05/07/2018 - 14:34

Recent research from TeleWare reveals that just 60 per cent of employees in financial services firms have suitable processes and technology in place to capture, record and consequently retrieve real-time business communications. This means 40 per cent of firms are risking non-compliance with Article 16 of MiFID II. »