Substance in Guernsey's funds industry will be supported by
a new business established in the island and developed with the Guernsey Investment
Fund Association (GIFA).
Thorndon is an independent company made up of legal and
insurance professionals experienced in managing process risk for
fund directors and boards. It has designed and supported the
Financial Protection and Advice Service (FPAS) to help protect
non-executive directors of investment funds and management
companies.
"Fund boards and individual non-executive directors have
enormous responsibilities in the pursuit of investors'
interests, yet little support mechanism around them should they
find themselves exposed to the risks faced in their role, such as
litigation and regulatory enforcement," said Thorndon director
Jonathan Bates.
