Guernsey ups the heat on competitors

Guernsey touts its white-list status, adding a fast-track regime for overseas collective investment schemes; in the future, everything will be outsourced.

Guernsey: The Channel island is looking to take advantage of recent EU black-listing of some of its competitors in the market for offshore tax services, including the Cayman Islands. Touting the jurisdiction’s economic substance requirements, officials of the Guernsey Financial Services Commission last week said managers with “already-established, good-quality funds” are considering domiciling on the island. Connor Hussey reports.

Fund Admin: “The private equity industry may be on the cusp of an outsourcing explosion,” writes Amy Carroll in the Fund Administration 2020 special report. Increased outsourcing in the wake of the covid-19 pandemic could leave little but fundraising and investment in house for many firms, Amy writes.

Email prepared by Graham Bippart