The Jersey Financial Services Commission this week issued a discussion paper which aims to streamline requirements for 'expert investors', and to increase the distinction between investments offered to retail and qualified investors.
This follows fears that excessive regulation of the industry in order to protect less experienced investors is driving investment funds away from the island, according to the Jersey Evening Post.
In a statement released with the consultation document, the Financial Services Commission explained that: 'The move follows the growing international trend to distinguish between regulatory requirements for investment vehicles aimed at expert investors and those sold to retail investors. The Commission's aim is to rely on disclosure by regulated businesses rather than restrict the structure and operations of such funds.'
One of the main issues which the paper hopes to address is the creation of a clear definition of the term 'expert investor'. Reviewing the requirements for the authorisation of promoters for the more private expert investor funds is also on the JFSC's agenda.
According to the JEP, the deadline for comment from fund mangers and other interested parties is December 31st.
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