Channel Islands Funds Quarterly Update: Q2 2021
1. Pan-Channel Islands developments
1.1 Economic substance regime now extended to partnerships
1.2 The International Stock Exchange reports a record number of Q1 listings
2. Jersey developments
2.1 Self-managed funds must satisfy the economic substance test – Taxation (Companies – Economic Substance) (Amendment No. 2) (Jersey) Law 2021
2.2 Changes made to Funds Business fee rates
2.3 Disclosure requirements for sustainable investment aim to combat greenwashing
2.4 Duty of supervisory body to use a risk-based approach
2.5 Investment in lawful cannabis industry is now permitted
2.6 First quarter fund statistics
3. Guernsey developments
3.1 Revisions to Private Investment Fund rules
3.2 Three new consultation papers on the Revision of Laws Project
3.3 De-regulation of Non-Guernsey Scheme regime
3.4 First quarter investment statistics
3.5 Finance sector code of corporate governance