The new scheme was announced in London earlier this month at a conference organised by Jersey Finance and the Jersey Funds Association.
Essentially it will enable so-called ‘expert’ investors and traded funds already listed on a stock exchange to bypass the Jersey Financial Services Commission (JFSC) regulatory process.
The scheme is designed to increase Jersey’s market share in sophisticated funds business.
However, law drafting time was not set aside in this year’s business plan.
An application for law drafting ‘contingency fund’ time was requested last week by Economic Development Minister Philip Ozouf in order to prepare an order which will exempt such funds from the Collective Investment Funds Law.
