Jersey, as a non-EU “third-country” for the purposes of the Directive, will not need to comply with the Directive when it comes into force for EU Member States in July 2013. Instead Jersey will, until at least 2018, continue to facilitate funds business as normal within the EU through national private placement regimes. Jersey’s regulator is already fully engaged with the regulators of Member States where Jersey funds are marketed to finalise the individual agreements required for this.
Jersey is also committed to introducing the option of a fully AIFMD-compliant regime and obtaining an EU-wide passport to allow managers to market alternative funds to investors across the EU by 2015 - as soon as is possible for third countries.
At the same time, as a non-EU jurisdiction, Jersey is able to offer a further choice by maintaining a separate regime outside the scope of the Directive, for managers who do not want to access EU capital or operate in the EU.
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