Regulatory Alerts2021-10-21
Hedge Fund Flexible Approach to Authorisation Policy
The Guernsey Financial Services Commission issued this policy to clarify its flexible regulatory approach for authorizing hedge funds based on investor sophistication. The document outlines specific waivers for institutional funds regarding custodian requirements and NAV estimation, while imposing stricter oversight and segregation rules for retail-targeted vehicles. It further permits waivers from client money segregation rules to accommodate valuation delays and emphasizes the enhanced role of Boards of Directors in ensuring compliance with investment strategies.
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