Guernsey Investment Funds – The Regulatory Environment

Originally published in the HFM Week Guernsey Special Report, June 2011.

Carl Rosumek, Director of the Investment Business Division of the Guernsey Financial Services Commission (GFSC), looks at the interplay between international developments and Guernsey's regulatory regime.

Against the continuing background of financial uncertainty and volatility, international organisations and standard setters continued to develop and co-ordinate their efforts to make the international financial system more resilient. The International Organisation of Securities Commissions (IOSCO) aligned itself with the G20 in promoting enhanced standards for issuers, service providers and for market intermediaries and investment advisors. At its 2010 Annual Meeting IOSCO published its revised Principles of Securities Regulation to incorporate eight new principles, based on the lessons learned from the financial crisis and subsequent changes in the regulatory environment.