The Guernsey Private Investment Funds Regime

KEY TAKEAWAYS

• Guernsey's latest fund regulatory regime is the private investment fund (PIF) regime

• The PIF Rules provide appropriate funds with a fast-tracked, proportionate and "light touch" regulatory regime

• This guide discusses the three PIF "routes" to obtaining regulatory approval, and their differing features

The Private Investment Fund Rules ("PIF") regime was updated by the Guernsey Financial Services Commission ("GFSC") in 2021 to expand the available PIF product options.

PIFs are governed by the Private Investment Fund Rules and Guidance (2), 2021 (the "PIF Rules 2021").

Three alternate PIF routes

Under the PIF Rules 2021, there are three alternate routes available for PIFs in Guernsey: