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The GFSC has amended the Guernsey Green Fund Rules, making two liberalisations based on industry feedback.
These amendments were consulted on as part of the Commission’s Spring Green Consultation, issued on 11 March 2021.
Responses to the Spring Green Consultation Paper were largely supportive and a feedback statement addressing the consultation feedback has been published on the Commission’s Consultation Hub.
The Guernsey Green Fund Rules require a Guernsey Green Fund’s designated administrator to monitor the Guernsey Green Fund against the notified green criteria and investment criteria.
The modification announced today extends the frequency of that monitoring for closed-ended funds from a monthly to a quarterly basis.This should reduce the administrative burden on designated administrators, according to the GFSC, while maintaining the integrity of the Guernsey Green Fund regime and investors’ confidence in it.
The second modification seeks to offer greater flexibility on how a fund can meet the requirement to disclose its designation as a Guernsey Green Fund by allowing a market announcement on a recognised stock exchange as a method of making this disclosure.
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