SENIOR representatives from Guernsey and Jersey travelled to Brussels last week for further talks on the alternative investment fund managers directive.

Jarrod Cowley-Grimmond (pictured), director of finance sector development at the States of Guernsey, and Martin de Forest-Brown, director of international finance for the States of Jersey, met representatives from the Belgian presidency of the EU as the directive nears a scheduled vote in the European Parliament in September.

The make-up of the final AIFM directive is a major concern for Guernsey’s funds sector, which employs about 2,500 people.

The worry from an island perspective is whether Guernsey will be seen as an ‘equivalent’ jurisdiction and one that deserves a passport to trade in and out of the EU.

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