New Jersey And Guernsey Private Funds Regimes

Both Jersey and Guernsey have recently released new private fund regimes, which are expected to be of considerable interest to fund promoters who are looking to launch new funds in either of the jurisdictions, but where a fully regulated product would not be necessary or appropriate at the time of launch. This guide summarises the key features of each new regime.

Jersey Private Fund Guide ("JPF")

On 15 March 2017, the Jersey Financial Services Commission ("JFSC") announced a new Jersey Private Fund Guide ("JPF"), to be effective from Tuesday 18 April 2017. The introduction of the JPF aims to amalgamate and replace the three other Jersey products: the Very Private Funds, Private Placement Funds and COBO Only Funds. Once the use of JPFs becomes effective, new applications under the older regimes will not be possible.