Thursday August 17 2017

News Source: Fund Regulation

Focus: AIFMD

Type: General

Country: Jersey




The Jersey Financial Services Commission (JFSC) has updated the Alternative Investment Funds Managers Directive (AIFMD) Frequently Asked Questions (FAQs). The following questions on “Danish Reciprocal Statements” and “Dutch Attestation” have been amended:

Q6: Danish Reciprocal Statement:

  • 6 (a) What is the application process for a Jersey AIFM wishing to market shares or units of a Jersey AIF in Denmark pursuant to Article 42 AIFMD (national private placement rules (NPPR))?
  • 6 (b) What is the process for obtaining a reciprocity statement from the Jersey Financial Services Commission (Commission) to the FSA?
  • 6 (c) We understand the FSA has accepted an overarching statement from the Guernsey Financial Services Commission (GFSC) confirming that it is willing to permit the promotion of Danish AlFs in Guernsey through an entity licensed under appropriate Guernsey law. Does the Commission intend to issue a similar overarching statement to the FSA in relation to the promotion of Danish AIFs in Jersey?

Q7: Dutch Attestation:

  • 7 (a) What is the process for a Jersey AIFM wishing to market shares or units of AIFs in the Netherlands pursuant to Article 42 AIFMD (national private placement rules (NPPR))?
  • 7 (b) What is the process for obtaining an attestation from the Jersey Financial Services Commission (Commission) to the AFM?
  • 7 (c) We understand that the AFM has accepted an overarching statement from the Guernsey Financial Services Commission (GFSC) confirming that it is able to effectively comply with the cooperation agreement between the GFSC and the AFM as set out in article 1.13b section 1 and 2 Wft in respect of each Guernsey AIFM notified to the AFM pursuant to a Notification with the AFM accepting a screen print from the GFSC website as confirmation that the relevant Guernsey AIFM is appropriately licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended. Does the Commission intend to issue a similar overarching statement to the AFM which will dispense with the requirement for individual attestations to be given by the Commission in respect of each Jersey AIFM notified to the AFM pursuant to a Notification?

Click on the above link for further details.