UK Hedge Fund Cites Regulatory Environment As Reason For Jersey Move

by Robin Pilgrim, LawAndTax-News.com, London

02 May 2005

According to a report published by Jersey Insight last week, regulatory changes put in place by the States authorities have tempted the first hedge fund company to relocate to the island from London.

The news service revealed that multi-million dollar hedge fund firm, Altis has cited the streamlining of the regulations governing the fund sector as the reason behind its decision to move.

Further regulatory changes are planned over the coming year to make it easier for banks and trust companies to relocate, according to the report.

Jersey Finance last week hosted a conference entitled 'Jersey - Providing New Opportunities' in London to showcase the services provided and highlight developments in the jurisdiction.

Speaking ahead of the Thursday event, Phil Austin, Chief Executive of Jersey Finance, announced that:

"Our London showcase event is an extremely valuable opportunity to outline business developments, legislative and regulatory changes and to answer questions from City professionals about the specialist services provided from the Island. Our international contact programme takes us to the Gulf, the United States and this year to the Far East, but our finance industry members reiterate that London remains our most important location for business so we are looking forward to the opportunity to outline the latest new developments and initiatives."

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