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Events
Crypto Funds: The Gibraltar Solution
The Gibraltar Funds and Investments Association (GFIA) hosted an event at The Traveller’s Club, Pall Mall, London in June to discuss how Gibraltar is in a unique position for funds, despite the potential impacts of Brexit.
The event discussed how a significant majority of the funds established in Gibraltar operate outside of the scope of the European Union’s Alternative Investment Fund Managers Directive (AIFMD), so should not be affected by Brexit. These funds will continue to operate and be promoted through the various National Private Placement Regimes (NPPR’s) that exist in different European territories.
The panellists included, James Lasry, GFIA Chairman, Jay Gomez, GFIA Deputy Chairman, Jonathan Garcia, GFIA Board Member, Philip Young, Director, Gibraltar Stock Exchange, and Pavel Stehno, founder of Crypkit.
Jonathan Garcia, a partner in leading Gibraltar law firm, Isolas, commented: “The fact that this event proved popular and had a strong attendance is testament to the ongoing engagement and positivity of the funds industry as a whole. It is estimated that the significant majority of Gibraltar-based funds do not avail themselves of the European passport either because they fall below the threshold under
which they are obliged to comply or fall within other exemptions and, as such, are unlikely to see any changes to their operations, both in terms of the way that they are managed, and the way that they can be promoted or distributed”.
Further topics discussed were, how the UK-Gibraltar agreement ensures that Gibraltar will remain a regulatory certain gateway for financial service firms based in other jurisdictions to passport into the UK market, and new educational initiatives, including New Technologies in Education (NTiE), a programme developed
by the Gibraltar government, in partnership with the University of Gibraltar.
www.gfia.gi
28 Gibraltar International
www.gibraltarinternational.com