Guernsey well positioned in third country passport manoeuvring

Guernsey’s funds sector is well positioned ahead of the activation of the Island’s ‘third country’ passport.

This is a key message to emerge from a gathering of approximately 300 delegates at the Guernsey Finance-hosted masterclass on February 3 at the iconic British Museum in London to hear a panel of leading funds experts debate the current market landscape as it relates to the Alternative Investment Fund Managers Directive (AIMFD) and National Private Placement (NPP) regimes.

The ‘NPP or third-country passport?’ event considered the European Securities and Markets Authority’s (ESMA) recommendation that Guernsey should be given access to the AIFMD passport scheme and how the industry generally was using NPP in relation to AIFMD.

Kate Clouston, director of international business development at Guernsey Finance, said: “It was encouraging to see the event so well attended and that we were able to have such an interactive discussion between panellists and the audience. What came out very clearly from the debate was that Guernsey’s national private placement regime is held in high regard by those in the industry and that once we receive our third country passport Guernsey’s offering will become even stronger.”