The Jersey Financial Services Commission is proposing that closed-ended investment funds that are listed on European and other leading stock exchanges, including the Channel Islands Stock Exchange, should be subject to a streamlined 72-hour approval procedure.
The regime will be available to private equity, property and other alternative investment funds, such as hedge funds and funds of hedge funds.
David Carse, director general of the JFSC, announced details of the new Listed Funds Guide in London this week, at the funds seminars held by Jersey Finance in association with the Jersey Funds Association.
It is proposed that the new regime will operate in a similar fashion to the existing Expert Fund regime, except that there will be no selling restrictions attached to these investment funds.
