Directing the directive

Next time you find yourself irritated by yet another complaint that the Alternative Investment Fund Managers Directive lacks comprehension and clarity, your impatience might be eased on learning from Jon Moulton, Chairman of Better Capital Fund, that there's a sentence in the Directive containing 400 words and 11 sub clauses. So, thank your lucky stars, it's not your job to dissect and digest such detail. Guernsey's legislators and regulators are determined to remain undaunted by this dense forest of legal gobbledegook. Much to the relief of its £250 billion fund sector, they are leaving...