As International Adviser reported in April, Gibraltar has introduced several improvements to its Experienced Investor Fund regime, including permitting large funds to re-domicile themselves there while continuing to use administrators based in other “reputable” jurisdictions.
The new panel, which comprises members from all elements of the fund industry in Gibraltar, is designed to act as a “sounding board” and an initial point of consultation with the FSC on all supervisory and regulatory issues relating to funds.
“Following recent regulatory changes in respect of Experienced Investor Funds and the forthcoming Alternative Investment Fund Managers Directive, the funds industry in Gibraltar will be entering a new phase in its growth,” said FSC chief executive Marcus Killick.
“We therefore feel that a panel with representatives from funds, their directors, lawyers, auditors, administrators, depositaries, etc will be an ideal way to ensure that we have a cohesive and comprehensive dialogue between regulator and industry.
“This approach has worked well in respect of auditors and we foresee an equally positive result for the funds sector.”
The panel will be chaired by Joanne Beiso, head of the funds and pensions division at the FSC.
