Regulatory Alerts2024-12-02
Explanatory Note on Surrender of Authorisation or Registration of a Collective Investment Scheme
The Guernsey Financial Services Commission outlines the requirements for designated administrators or trustees to surrender a Collective Investment Scheme's authorization under the Protection of Investors Law. Consent is typically granted only after full liquidation or managed wind-down, evidenced by final statements or administrator declarations confirming all liabilities are settled and assets distributed. The Commission may consider early surrender requests based on regulatory standing, investor protection, and the transfer of AML/CFT responsibilities to a licensed entity.
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