The Gibraltar Financial Services Commission (GSFC), a regulator, has signed a cooperation agreement with its counterparts in Hong Kong concerning the supervision of funds authorized under the EU’s Alternative Investment Fund Managers Directive (AIFMD).
Gibraltar is a popular private fund domicile used by EU managers, and Gibraltar funds seeking investments in Asia often use Hong Kong as a stepping stone to reach Chinese companies and other major Asia-Pacific countries.
The agreement aims to improve information exchange and cooperation between the GSFC and the Securities & Futures Commission and Hong Kong Monetary Authority, two major regulatory authorities in Hong Kong, concerning the supervision of AIFMD vehicles.
The agreement follows a recent trip by a group of Gibraltar business leaders and officials to Hong Kong led by Gibraltar Finance Minister Albert Isola.
“Our marketing trip to Hong Kong was a very successful visit. We had a strong group of professionals from Gibraltar’s financial services sector provide a very good case for us as a safe and secure jurisdiction with which to do business,” Isola said in a statement.
Gibraltar now has 13 AIFMD-related agreements with regulators worldwide, according to a GSFC spokesperson.
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