The Guernsey Financial Services Commission has issued a consultation paper on a proposed revised set of prospectus rules and guidance to be made under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (POI Law), updating the Prospectus Rules and Guidance, 2021. The proposals aim to modernise the regime by improving clarity and standardising certain requirements while simplifying rules and reducing administrative burdens, without moving away from international investor protection standards. The revised rules would apply to prospectuses for Category 2 Controlled Investments under the POI Law and to Collective Investment Schemes registered under Section 8 of the POI Law that are subject to the Registered Collective Investment Scheme Rules, 2021. Although intended to replace the existing Prospectus Rules, the Commission indicates the changes would not fundamentally alter the regulatory framework or its approach to prospectuses and other offering documents. Drafting has taken account of industry representations, including proposals to broaden exemptions to better align with peer jurisdictions, alongside changes intended to keep the framework consistent with the expectations of international standard-setting bodies. Responses to the consultation are requested by 3 March 2025.
Guernsey Financial Services Commission 2025-01-06
Guernsey Financial Services Commission consults on revised prospectus rules to broaden exemptions and update guidance
The Guernsey Financial Services Commission has released a consultation paper on revising prospectus rules under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. The proposals aim to modernize the regime by enhancing clarity, standardizing requirements, and reducing administrative burdens while maintaining international investor protection standards. The revised rules would apply to Category 2 Controlled Investments and Collective Investment Schemes, reflecting industry input and aligning with international standards.