Update for funds industry on the new regulatory frontier

THE Island’s finance industry has been warned that regulation of the funds sector globally is likely to get tougher.

Speakers Oli Morris, Heather MacCallum and Neale Jehan
Speakers Oli Morris, Heather MacCallum and Neale Jehan

THE Island’s finance industry has been warned that regulation of the funds sector globally is likely to get tougher.

And experts say that ‘widely different’ interpretations by 27 different countries on how to apply a new EU funds directive would be an important aspect of how it is implemented across the continent.

Business advisory firm KPMG brought members of its global and investment management leadership teams to the Island for a breakfast seminar recently to explore the Alternative Investment Fund Managers Directive (AIFMD) and what it called ‘the new regulatory frontier’.

The seminar was actually held twice. The first date was on a Monday in January when it snowed heavily and the audience at the Radisson blue Hotel that morning was just under 100.