Jersey Eligible Investor Fund Application Form

Summary

This is the standard application form used by the Jersey Financial Services Commission (JFSC) for authorising a Jersey Eligible Investor Fund. It requires the applicant to confirm the fund's compliance with the criteria in the Jersey Eligible Investor Fund Guide and to provide detailed information about the fund's structure, investment strategy, service providers and risk factors, together with supporting documents and signed declarations.

• Compliance confirmation: Applicant must indicate whether the fund fully meets, or only partly meets (with or without prior JFSC approval), the criteria in the Jersey Eligible Investor Fund Guide.
• Fund details: Must disclose fund name, legal structure, open/closed ended status, class structure, asset classes, borrowing limits, minimum investment level and expected life.
• Eligible investor safeguards: If units are listed, must confirm exchange restrictions on transfers, investor written acceptance of investment warnings, and mechanisms preventing ineligible investors becoming registered holders.
• Service provider and manager disclosure: Must list all fund service providers (manager, administrator, investment manager, custodian, auditor, etc.) and confirm whether certificates or licences are required under the relevant Jersey laws.
• Supporting documents: Must submit the offer document (marked up for CFPO/Guide compliance), a structure chart, the Investment Manager's confirmation, and, if applicable, an English translation of a non-English offer document, plus the application fee cheque.
• Principal and key persons: New principal persons and key persons not previously approved must complete a myProfile application; those already approved must notify JFSC of any material change to their information.
• Declarations: Signatories (administrator/manager/trustee and the party accepting ultimate responsibility) must declare the accuracy of the information and commit to proper outsourcing and delegation systems consistent with JFSC policy.

Because certificates and licences are issued on the basis of the information provided in this form, applicants must promptly notify the JFSC of any material changes to the answers given before the fund launches.

Key obligations

• Confirm and specify the extent of the fund's compliance with the Jersey Eligible Investor Fund Guide criteria, including any JFSC-approved or unapproved variations
• Provide full details of the fund's legal structure, investment strategy, assets, borrowing limits, minimum investment and expected life
• If units are listed, confirm exchange transfer restrictions, investor acceptance of investment warnings, and safeguards preventing ineligible investors from becoming registered holders
• Disclose all fund service providers and confirm whether they require certificates or licences under the Collective Investment Funds (Jersey) Law or Financial Services (Jersey) Law
• Submit supporting documents including the offer document marked up for compliance, a structure chart, and the Investment Manager's confirmation
• Submit myProfile applications for new principal persons and key persons who have not previously been approved
• Notify the JFSC of any material change to information previously provided for approved principal persons and key persons
• Sign declarations confirming the accuracy of the information provided and commitment to proper outsourcing and delegation systems
• Notify the JFSC as soon as possible of any material change to the information supplied in this form prior to the fund's launch

Applies to

Jersey Eligible Investor Funds, fund administrators, fund managers, trustees, investment managers, principal persons, key persons, fund service providers

Deadlines

• prior to the launch of the Fund: Any material changes to answers supplied in the application must be brought to the JFSC's attention as soon as possible before the fund launches