Guernsey’s Fund Industry – Tradition Amid Change

In a time of unprecedented change, Guernsey offers a strong heritage in fund servicing as well as innovative solutions, according to Fiona Le Poidevin of Guernsey Finance.

Stuart Lawson, head of regulatory change and market development at Northern Trust in Guernsey, recently wrote an article highlighting the significant changes impacting the asset servicing market. He pointed to the ongoing drive to de-risk banks, enhanced reporting triggered by the US' Foreign Account Tax Compliance Act (FATCA) and the implementation of the European Union's Alternative Investment Fund Managers Directive (AIFMD) as providing fund administrators and custodians with new process and technology challenges.