MOVES to resolve Guernsey’s involvement in a number of long-running issues of financial regulation have been welcomed by the chairman of the Guernsey Society of Chartered and Certified Accountants.

In his speech at the society’s annual dinner, John Clacy praised the States, Guernsey Financial Services Commission and industry organisations for their contribution on matters such as zero-10, Fatca and AIFMD.

Mr Clacy, pictured, said that work done locally to implement an alternative compliant regime ahead of the implementation of the Alternative Investment Fund Management Directive would be good for the island’s prospects.

‘This may give Guernsey funds the opportunity to describe themselves, from the outset of the regime, as AIFMD-compliant rather than wait for 2015. This may be critical in terms of professional asset allocation,’ he said.