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ARTICLE · 01 DECEMBER 2014

New Legislation Promotes Hedge Fund Management Activity In Jersey

Bedell Cristin
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In a welcome development, Jersey's Chief Minister has signed into law new legislation designed to simplify and encourage the establishment and operation of hedge fund management businesses in Jersey.

JerseyFinance and Banking
Martin Paul
Martin Paul
Emily Haithwaite
Emily Haithwaite
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In a welcome development, Jersey's Chief Minister has signed into law new legislation designed to simplify and encourage the establishment and operation of hedge fund management businesses in Jersey.

To date, hedge fund managers established in Jersey who operate managed accounts as well as managing funds have often been required to be regulated under Jersey's 'investment business' regulations as well as under Jersey's 'funds' regulations. This has brought a degree of complexity, as businesses have had to operate simultaneously under two (similar but different) regulatory frameworks.

The new legislation (the Financial Services (Investment Business (Qualifying Segregated Managed Accounts - Exemption)) (Jersey) Order 2014 - the "QSMA Order") has addressed this, by enabling hedge fund managers to be regulated solely under Jersey's 'funds' regulations, provided the managed accounts are 'qualifying segregated managed accounts'.

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