Application for Alternative Investment Fund certificate

Summary

This is the application form used to apply for a certificate to operate or manage an Alternative Investment Fund (AIF) under Jersey's Alternative Investment Funds (Jersey) Regulations 2012. It is completed by the proposed AIF certificate holder (the applicant), which may be the fund itself, its manager, general partner, trustee, LLC member/manager or similar, and covers details of the applicant, the fund, and any additional constituent parts (for umbrella, multi-class or protected cell funds).

• Section A: Basic details of the application, including the applicant's function and whether the fund is an existing, umbrella, multi-class or PCC fund.
• Section B: Applicant details including incorporation, auditor, beneficial owners and directors, sanctions due diligence confirmation, and a nominated general contact for correspondence.
• Section C: A declaration, signed by two directors of the applicant, confirming the accuracy of information and compliance with the AIF Code, plus an ongoing duty to notify the JFSC of relevant changes.
• Section D: Fund-level details including legal form, marketing jurisdictions, AIFM and depositary information, listing plans, accounting arrangements, and Money Laundering Reporting/Compliance Officer details.
• Section E: Further details for each constituent part of the fund (sub-fund, PCC cell or share class), including investment policy, service providers, and a separate declaration if used for an additional constituent part of an existing fund.
• Fees: The correct application fee must eventually be paid per an invoice issued by the JFSC, though fees need not accompany the form itself.

The form must be sent to the JFSC's Central Authorisations team by email or post, and is accompanied by data protection notices under the Data Protection (Jersey) Law 2018.

Key obligations

• The applicant must nominate one person as general contact for all correspondence relating to AIF certificates granted to it (Section B.1).
• The applicant must ensure the correct application fee is paid per the terms of the JFSC's invoice, even if the fee is not submitted with the application form.
• The applicant must confirm that due regard has been, and will be, given to applicable sanctions frameworks, including ongoing consideration after any approval is granted.
• The applicant must notify the JFSC immediately of any other information relevant to the AIF application, and of any significant changes to information provided before the JFSC's decision is issued.
• The application form (Section C declaration) must be signed by two directors of the applicant.
• The board of each applicant must include at least two directors who are resident in Jersey.
• Quarterly fund statistics must be submitted to the JFSC electronically, with a named Statistics Officer responsible.
• If the application relates to an additional constituent part of an existing fund, a separate declaration in Section E must be completed and signed by two of the applicant's directors, with a copy of the relevant COBO consent attached.
• If the fund is currently listed as an unregulated fund, the applicant must confirm that, subject to grant of the AIF certificate, the JFSC's list of unregulated funds may be updated to remove reference to the fund.

Applies to

Alternative Investment Funds (AIFs), AIF Managers (AIFMs), AIF certificate applicants (companies, trustees, general partners, LLP partners, LLC managers/members), fund service providers, depositaries, Money Laundering Reporting Officers and Money Laundering Compliance Officers of funds

Deadlines

• immediately: Applicant must notify the JFSC immediately of any other relevant information or significant changes occurring between submission and the JFSC's decision.
• quarterly: Fund statistics must be submitted to the JFSC electronically on a quarterly basis.