New Promoters In Guernsey

A central tenet of the GFSC's approach to the regulation of funds is that the administrator of a Guernsey fund is required to satisfy itself that the promoter of the scheme is “fit and proper” by carrying out appropriate due diligence.

In the case of registered funds, the administrator is required to certify at the time of the application that it has undertaken due diligence on the promoter. In the case of authorised funds, whilst the administrator must conduct due diligence on the promoter, it is not required to provide warranties to the GFSC (who conducts its own due diligence on the promoter as part of the authorisation process).

To facilitate the licensing, authorisation or registration process (as applicable), it is important that anyone who is not already known to the GFSC and who: