Funds Legal and Regulatory Update — 21 October 2013
The Alternative Investment Fund Managers Directive (AIFMD) has now been in force for more than two months and funds and their advisers are coming to terms with the new AIFMD regime in Jersey.
The new AIF codes contain provisions regarding the disclosure of side letters. This represents a departure from market practice in certain sectors (e.g. hedge funds). The Jersey Financial Services Commission (JFSC) has confirmed that it intends to issue formal guidance on the disclosure of investor side letter terms in due course. This should bring some welcome clarity for advisers.
The JFSC has issued a consultation paper recommending that the pro forma reporting template set out the Level 2 AIFMD regulations be used for the purposes of preparing reports to the JFSC required under the AIF. The European Securities and Markets Authority has recently published the final guidelines on the reporting obligations for EU AIFMs, which may be of assistance for Jersey AIFMs when considering their reporting obligations to the JFSC…
If you are registered and logged in to the site, click on the link below to read the rest of the Ogier briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ogier
News from The Lawyer
Briefings from Ogier
The BVI has published the Securities and Investment Business (Incubator and Approved Funds) Regulation. These Regulations introduce two new funds products into the BVI’s funds offering,
The British Virgin Islands Financial Services Commission has introduced two new funds products, the ‘Incubator Fund’ and the ‘Approved Fund’.