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Investment

Private Investment Fund – Form PIF (December 2020)

14th December 2020
The Commission has today issued a revised application form for the Private Investment Fund – Form PIF (December 2020). Please ensure that this form is used for all future applications and that all applicable requirements are adhered to. The Form PIF (December 2020) can be found here. Emma Bailey Director Authorisations and Innovation

Distribution of 2021 annual fees to Licensees and Registrants

14th December 2020
The Commission has now sent its 2021 annual fees to all licensees and registrants by email. If you have not received an invoice by email you should contact [email protected] quoting the entity name and the GFSC reference number, which can be found on our website (Regulated Entities and Registered Entities). You may also contact this email address to confirm the validity of an emailed invoice...

Commission consults on increasing Private Investment Fund (PIF) options

9th December 2020
The Commission has today published a Consultation Paper containing proposals which, if implemented, would allow different investor categories to take advantage of an appropriately regulated fund structure. Whilst the proposals would see the current approach to registering a PIF continue, other paths would be introduced to complement this. One of the new paths being proposed would enable a PIF to...

Commission proposes deregulation of non-Guernsey Fund Scheme Rules

8th December 2020
The Commission has today published a Consultation Paper seeking feedback on proposals for changes to the Non-Guernsey Scheme regime. If the proposal is implemented it will see the current rules revoked. A Non-Guernsey Scheme is a collective investment scheme that is not established or incorporated in the Bailiwick of Guernsey and is not authorised or registered by the Commission. The Law permits...

Commission clarifies boundaries of Custodians’ duties

7th December 2020
In its efforts to provide greater regulatory clarity for industry, the Commission has today published new guidance aimed at providing additional clarification about Designated Custodians’ duties. This guidance sets out the standards of conduct that are expected of Designated Custodians when they act for Open-Ended Collective Investment Schemes and where the assets are held indirectly, for example...

September Quarter 2020 Investment Statistics

2nd December 2020
Third Quarter 2020 Guernsey Funds The total net asset value of Guernsey funds has increased in Sterling terms during the last quarter by £9.3 billion (4.1%) to £236.1 billion. Over the past year, total net asset values have increased by £7.7 billon (3.4%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds increased over the quarter by £0.2 billion (0.4%) to £48.0 billion...

Changes to how the Commission distributes Annual Fee Invoices to Licensees and Registrants

30th November 2020
Licensees and registrants are advised that the Commission is changing the way it distributes its annual license fee invoices, commencing with the 2021 annual fees which are due to be sent out next month. Generic email addresses for all regulated and registered entities have been prepared which will be used to send out the annual fee invoices for 2021. If you wish to check which email address the...

June Quarter 2020 Investment Statistics

14th October 2020
Second Quarter 2020 Guernsey Funds The total net asset value of Guernsey funds has decreased in Sterling terms during the last quarter by £6.4 billion (-2.7%) to £226.8 billion. Over the past year, total net asset values have decreased by £0.9 billon (-0.4%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds increased over the quarter by £3.1 billion (6.8%) to £47.8...

Consultation Paper on Guidance for Custodians of Open-ended Collective Investment Schemes with Indirectly Held Assets

9th September 2020
The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on a proposed Guidance Note for Custodians of open-ended collective investment schemes made under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (the “PoI Law”).A copy of the Consultation Paper and the Draft Guidance can be found here: https://www.gfsc.gg/commission...