(Update Issue Number 8 Autumn/Winter 1996)

The Australian Securities Commission has become the latest overseas regulatory authority to approve the marketing within its jurisdiction of Guernsey Class A1 collective investment schemes. The others are: the UK, the Netherlands, Switzerland, Hong Kong, Ireland and Japan.

The Australian agreement was signed recently by Mr Alan Cameron, Chairman of the ASC and Conseiller Peter Morgan, Chairman of the Guernsey Commission, and followed a detailed review by the ASC of the regulatory framework under which such schemes are authorised and supervised in Guernsey.

Nigel Taylor, Superintendent of Investment Business, says: 'I am greatly encouraged by this positive response from another leading regulator. Guernsey now joins the USA, UK, Hong Kong and New Zealand in receiving practical recognition of the fact that it maintains levels of investor protection comparable to those in Australia.'

More news of Guernsey collective investment schemes can be found in Investment Business Update Special issued in conjunction with this, our regular newsletter.

For further information contact Peter Crook on Tel: +44 (0) 1481 712 706 or fax: +44 (0) 1481 712 010 or e-mail: info@gfsc.guernseyci.com

Visit the Guernsey Financial Services Commission Web Site at Click Contact Link

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.