Leaders from Guernsey's funds industry have revealed that
the Island is aiming to achieve equivalence with the EU in light of
the proposed Directive on Alternative Investment Fund Managers
(AIFM).
Guernsey's determination to maintain access to EU markets in
the face of the Directive was highlighted by speakers from the
Island at a debate in London on Tuesday evening assessing the
future of the funds industry following the credit crunch and
subsequent global economic downturn.
Horace Camp, a member of the Guernsey Investment Funds
Association (GIFA), said: "While it is unclear at the moment
exactly what form the Directive will ultimately take, it is certain
to be enacted. Our intention is that if anybody gains equivalence
so that they continue marketing into the EU then Guernsey will be
included on the list. We have a united effort in place led by our
government and industry so that we take the steps necessary to
ensure that this happens. We are not a lone voice and
