Regulatory Alerts2024-12-17
Guidance on Unclaimed Investor Money under the Protection of Investors (Bailiwick of Guernsey) Law, 2020
The Guernsey Financial Services Commission issued this guidance to require authorized collective investment schemes to establish and maintain a documented policy for managing unclaimed investor money. The policy must identify a responsible entity, define reasonable contact efforts with a minimum six-year timeframe, and address cost allocation and de minimis thresholds. It further mandates disclosure to investors and outlines specific handling procedures for blocked funds and assets remaining at the end of a scheme's life.
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