Guernsey to cut processes for closed ended funds

Guernsey Financial Services Commission (GFSC) has launched a public consultation, which closes on 24 January, on proposals to grant the required fund consent within three working days, providing certain conditions have been met. Under current Guernsey law, provisions for regulating registered open-ended funds are contained in the Protection of Investors Law, while close-ended funds fall under the Control of Borrowing Ordinance. But following a root and branch review of Guernsey’s investment funds legislation in 2006, conducted by Peter Harwood, one of the recommendations from the workin...