Jersey : The Jersey event was held on Tuesday 23 April 2013 with the speaker being Brendan McMahon
Guernsey: The Guernsey workshop was held on Friday 8 March 2013 with the speaker being Jarrod Cowley-Grimmond
The workshop was of particular interest to Audit Committee members and financial services, Non-Executive Directors wishing to further develop their understanding of AIFMD. Directors of General Partners, Managers, Investment Advisors and Administrators will need to consider their roles and responsibilities in light of this new wave of regulation.
The Alternative Investment Fund Managers Directive ("AIFMD") will have a significant impact on most Channel Island's businesses in the finance industry.
From 22 July 2013 managers of Funds based in Third Countries, which include Jersey and Guernsey, access to EU investors will change. The Directive is both an opportunity and a threat for the CI - an opportunity as it offers a regime without the onerous provisions of the Directive but a threat as there is a risk that EU member states may restrict our access to their jurisdiction.
You will be provided with sufficient information on the subject to enable you to ask the right questions to investment advisors and administrators that are planning for the impact of this legislation. You will be updated on where the CI are in relation to the necessary co-operation agreements that are needed to continue to private place in to Europe post 22 July and how Member States are implementing these provisions of the Directive. You will also be given some insights in to what will constitute substance under the Directive and remind you of the transparency requirements.
If you have any queries, please do not hesitate to contact us.