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ARTICLE · 18 MARCH 2015

Guernsey Investment Funds: Authorised Or Registered - Which To Choose?

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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On 15th December 2008, changes were made to the regulation of investment funds in Guernsey.

GuernseyFinance and Banking

On 15th December 2008, changes were made to the regulation of investment funds in Guernsey. Those changes created two regulatory regimes for collective investment schemes in Guernsey:

  • registered investment schemes; and
  • authorised investment schemes.

Further changes to the registered investment scheme regime were made with effect from 1 April 2015. This briefing note analyses the differences between the two regimes.

Repeal of COBO

Prior to 2008, Guernsey closed-ended funds were regulated by the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959, ("COBO") and open-ended schemes by the Protection of Investors (Bailiwick of Guernsey) Law, 1987 ("POI"). Now, all open and closed-ended funds are governed by POI and may elect to be regulated as authorised or registered schemes.

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