THE Guernsey funds industry remains positive ahead of an EU Parliament decision now due next month on the long-awaited alternative investment fund managers directive.

A parliament vote had formerly been expected earlier this week, but once again discussions were halted while disagreements among members were ironed out.

However, the EU council on Tuesday approved new rules following a small compromise to satisfy France.

It means the text now needs only to go through the parliament, with a vote expected on 10 November.

‘It is clearly disappointing that the vote on the directive isn’t happening this week, but as we now await the vote in November and final text of the directive, we are already looking at what might be the position for Guernsey,’ said Neale Jehan (pictured), executive director of KPMG in the Channel Islands, who has led the company’s global response to the directive.

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