Muddling on through

The emergency measures that have been put in place, as a result of the global health pandemic, in the international fund domiciles of Cayman, Guernsey, Ireland, Jersey and Luxembourg are very similar. However, the consequences of these measures for fund directors might well vary, jurisdiction by jurisdiction.

Some jurisdictions have put sunset clauses in to their emergency measures. (Ireland’s continue in operation until November 9, for example, but everyone expects them to have been withdrawn before then.) Others have not. There is an obvious question for those that have no automatic sunset clause: might some of these temporary measures conceivably become permanent?

A number of jurisdictions make it clear that failure to abide by their jurisdiction’s emergency measures will result in severe penalties, including prosecution. Others do not, at least that is not included in the information that is on their regulators’ websites.

To read more on this story see the April issue of The NED.

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