Guernsey Ready For Third Country AIFMD Passport

On 19th July 2016, the European Securities and Markets Authority ('ESMA') once again recommended Guernsey for a third country passport under the Alternative Investment Fund Managers Directive (AIFMD). This followed ESMA's announcement last summer that Guernsey had demonstrated the ability to satisfy the criteria required under AIFMD.

The independent EU regulatory authority assessed Guernsey, alongside 11 other non-EU jurisdictions, as part of its non-EU AIFMD passport reviews. In its final assessment, ESMA has concluded that 'there are no significant obstacles regarding investor protection, competition, market disruption and the monitoring of systemic risk impeding the application of the AIFMD passport to Guernsey'.