ARTICLE
15 February 2016

AIFMD Debate Moves From Theory To Practice

O
Ogier

Contributor

Ogier  logo
Ogier provides legal advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg law. Our network of locations also includes Beijing, Hong Kong, London, Shanghai, Singapore and Tokyo. Legal services for the corporate and financial sectors form the core of our business, principally in the areas of banking and finance, corporate, investment funds, dispute resolution, private equity and private wealth. We also have strong practices in the areas of employee benefits and incentives, employment law, regulatory, restructuring and corporate recovery and property. Our corporate administration business, Ogier Global, works closely with Ogier's partner-led legal teams to incorporate and administer a wide variety of vehicles, offering clients integrated legal and corporate administration services. We have the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost effective services to all our clients.
The AIFMD debate on third country passports is moving from the theoretical towards discussion about how passporting will work in practice for third countries...
Guernsey Wealth Management

The AIFMD debate on third country passports is moving from the theoretical towards discussion about how passporting will work in practice for third countries, London delegates at Guernsey funds event heard last week. 

Guernsey was endorsed as a leading fund domicile at the Guernsey Finance masterclass at the British Museum, jointly sponsored by Ogier.

"The consensus was that national private placement was working well for Guernsey.  But the real interest was that the AIFMD debate on third country passports is moving from the theoretical towards discussion about how third country passporting will work in practice," said Ogier partner Frances Watson, who was among the 300 delegates.

She is among those anticipating the activation of the Island's third country passport.

The Guernsey Finance-hosted masterclass, held in conjunction with the Guernsey Investment Fund Association (GIFA), heard a panel of funds experts debate the current market landscape as it relates to the Alternative Investment Fund Managers Directive (AIMFD) and National Private Placement (NPP) regimes.

'NPP or third-country passport?' – considered the European Securities and Markets Authority's (ESMA) advice in July 2015 that there were no obstacles to extending the passport to Guernsey and how the industry generally was utilising NPP in relation to AIFMD.

Delegates heard that once the Island receives its third country passport Guernsey's offering will become even stronger.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More