Options available to fund managers marketing into Europe under
the Alternative Investment Fund Managers Directive (AIFMD) will be
the focus of a Guernsey funds masterclass in London next year.
The event, which takes place at the British Museum on Wednesday
3 February, will feature a panel debate among leading figures from
the funds industry and a keynote speech from Lord Flight. The panel
discussion will examine the benefits and suitability of National
Private Placement (NPP) regimes and third country passporting under
In July the European Securities and Markets Authority (ESMA)
made its recommendation to grant Guernsey a third country passport
after the Island had demonstrated its ability to satisfy the
criteria required under AIFMD.
Dominic Wheatley, Chief Executive of Guernsey Finance, said:
"Given that both NPP and third country passporting look set to
be available in relation to Guernsey Alterative Investment Funds
and Alterative Investment Fund Managers for a period of at least
three years after the activation of passporting, our masterclass
will look to examine which regime will be the preferred option for
fund managers operating in the EU.
"It is clear that managers are eager to learn how
ESMA's recommendation will impact the industry so our event
comes at a very opportune time, particularly as the advice now sits
with the European Parliament, the Council and the Commission for
their consideration ahead of the activation of the relevant
provision in the Directive to extend the passport."
The panel session will be moderated by Robin Fuller of Guernsey
Funds Consultancy, with panellists including Cathy Pitt, Corporate
Partner of CMS Cameron McKenna LLP; Shane Le Prevost, Chairman and
Founder of Liberum; Storm Boswick, Managing Director of Brightwood
Capital and Emma Bailey, Director of the Investment Supervision and
Policy Division at the Guernsey Financial Services Commission
The event, entitled 'NPP or third-country passport?',
commences at 4pm, with registration and coffee and concludes with a
networking drinks reception at 6pm.
It is hosted by Guernsey Finance in conjunction with the
Guernsey Investment Fund Association (GIFA) and is sponsored by
Carey Group, Mourant Ozannes, Ogier and Providence. The event is
supported by HFM Week and "unquote.
Mr Wheatley added: "Guernsey's response to the AIFMD
regime has been second-to-none and we were extremely pleased to
receive ESMA's July recommendation for an AIFMD passport
extension. We've had our own opt-in equivalent AIFMD regime
fully operational since 1 January 2014 and did this in order to
demonstrate the high standards that our funds industry works
For further information or to book a delegate place please contact Vicky Richardson by email email@example.com or telephone +44 (0) 1481 720071.
Observing a recent discussion between the children of a successful entrepreneur, I was reminded once again of the potential impact of family members being provided with differing information about the family enterprise.
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