Guernsey's investment funds industry is more competitively
placed after going through European and OECD economic substance
requirements, speakers agreed at a Guernsey Finance event in
London.
The island, a leading domicile for investment funds, received
confirmation in March from the EU Council's Code of Conduct
Group and the European Council of Finance Ministers (ECOFIN) that
it satisfied legal substance requirements for entities operating in
or through the jurisdiction. Some other rival international centres
did not achieve a white-listing.
Panel speakers at the Funds Masterclass event agreed that
achieving substance had become an increasingly important issue in
jurisdictional choice for general and limited partners, and that
Guernsey was now more strongly positioned in the market.
