Regulator issues funds paper

Monday 8th June 2009, 2:59PM BST.

Jersey Financial Services Commission

NEW legal requirements for funds prospectuses have been proposed by the regulator.

A consultation paper has this week been issued by the Jersey Financial Services Commission outlining a new Order.

The Order will bring together existing legislation and also introduce some new requirements.

Currently the regulations for prospectuses – which provide potential investors with information about the fund – comes under both the Collective Investment Fund and Companies laws, depending on whether the fund is a unit trust or a company, and open-ended or closed-ended.

The Commission is proposing to introduce one order covering all types of certified fund, with some additional requirements.

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