Following feedback to the Commission’s Consultation Paper on Ancillary Vehicles, the Commission has conducted further data collection and analysis. This process is ongoing and the policy proposals remain under consideration. It should be noted, therefore, that upon commencement of the new and amended regulatory laws on 1 November 2021, the notification regime for Ancillary Vehicles and the associated exemption under The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the new Fiduciaries Law) will not be activated. It should be noted, however, that exemption provisions equivalent to those available under The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 will continue to be available under the new Fiduciaries Law. Further updates on these proposals will be provided in due course.
This news item was originally published by the Guernsey Financial Services Commission (GFSC GG). For more information, see the Source Link.