There is a developing trend in global regulation and policy towards businesses needing to be able to demonstrate a real presence in the jurisdictions in which they operate. In this changing environment, fund and asset managers are reconsidering where they and their funds base themselves.

Jersey has always been an attractive option. It is an innovative jurisdiction with a highly skilled workforce, high quality infrastructure, a commitment to excellence and a well-deserved reputation as a centre of ‘substance’. It is this focus on substance in particular which has allowed Jersey to differentiate itself from other fund centres. Now there have been two developments which have highlighted the importance of considering management substance and given Jersey the opportunity to strengthen its appeal when structuring decisions are being made.

In July 2015, the European Securities and Markets Authority (ESMA) gave its recommendation that Jersey have access in due course to an EU-wide passport for the marketing of alternative investment funds in the EU under the Alternative Investment Fund Managers Directive (AIFMD). The implementation of AIFMD created a legal framework across the EU to monitor and supervise alternative investment fund managers and one of the key criteria under AIFMD is the question of management substance.

Share
Twitter LinkedIn Email Save as PDF
More Publications
27 Sep 2022

Similar but Different

While the basic features of the trust remain, there are some notable differences in how trusts can b...

1 Aug 2022

Register of Overseas Entities: A Jersey perspective

The Register of Overseas Entities at Companies House (ROE), as contemplated by the Economic Crime (T...

30 Jun 2022

Digital Identification in Jersey

There have been considerable changes made to the way we do business in recent times. These changes w...

Contributors: Gemma Whale, Paul Worsnop
17 Jun 2022

Proposals to amend the Powers of Attorney (Jersey) Law 1995

Following the recent update from our Guernsey colleagues on the introduction of lasting or enduring ...

Contributors: Gemma Whale
9 Jun 2022

Trustee Knowledge Series: Masters Paper Two: Family Governance

Appleby Private Client & Trust Partner David Dorgan has authored and distributed a series of Tru...

17 May 2022

Navigating the Jersey M&A landscape (3 of 3)

This is the third of a series of three articles, each dealing with topics to be considered when buyi...

Contributors: Andrew Weaver
5 May 2022

The Economic Crime (Transparency and Enforcement) Act 2022: a Jersey perspective

The new Economic Crime (Transparency and Enforcement) Act received Royal Assent on 15 March 2022 (th...

Contributors: Andrew Weaver, Gemma Whale
21 Apr 2022

Listing Private Equity Acquisition Debt on The International Stock Exchange

This article provides a summary of Appleby listing agent services in the Channel Islands, and also o...

12 Apr 2022

Trustee Knowledge Series: Masters Paper One: PTC Structures

Appleby Private Client & Trust Partner David Dorgan has authored and distributed a series of Tru...

16 Mar 2022

Trustee Knowledge Series: Advanced Paper Eight: Amending Mistakes

It is almost inevitable that during the life of most trusts (which can now last indefinitely in many...