Guernsey's 27 AIFMD Agreements Keep Funds Business Flowing

The Guernsey Financial Services Commission (GFSC) has signed bilateral cooperation agreements with 27 securities regulators from the European Union (EU) and the wider European Economic Area (EEA), including the United Kingdom (UK), France and Germany.

The cooperation agreements provide a set of arrangements for the on-going supervision of alternative investment funds, including hedge funds, private equity and real estate funds. They became applicable from Monday 22 July 2013, which was the deadline for EU countries to transpose the provisions of the Alternative Investment Fund Managers Directive (AIFMD) into national law.

AIFMD seeks to regulate EU-based Alternative Investment Fund Managers (AIFMs), managers of EU-established Alternative Investment Funds (AIFs) and managers that market AIFs into the EU. Non-EU jurisdictions, such as Guernsey, are considered 'third countries' and are not required to implement AIFMD. However, for third country AIFMs to continue