The introduction of the Codes of Practice for Certified Funds, that is Jersey collective investment funds within Article 3 of The Collective Investment Funds (Jersey) Law 1988, as amended, aims to ensure that Certified Funds meet international regulatory standards.
Certified Funds and their service providers will need to ensure that they meet, or are working towards compliance with, the Codes of Practice for Certified Funds, which came in to force on 2nd April 2012. Whilst there will be no formal "grandfathering" for existing Certified Funds, allowance will be made for the implementation of the detail of the Codes, provided that the fundamental principles of the Codes are complied with and active steps are being taken by Certified Funds to secure compliance with the detailed underlying requirements.
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