GFIA Press Release
The Gibraltar Funds and Investments Association (GFIA) is proud to announce the publication of the world’s first Code of Conduct for Crypto Funds as well as the amendment of Gibraltar’s Experienced Investor Funds regulations 2018.
As a number of crypto funds are being established in Gibraltar, GFIA felt it would be helpful to launch a code of conduct to help promotors and service providers address issues that are specific to crypto funds. This, coupled with the new funds legislation which allows more flexibility in choosing regulated Directors is likely to Boost Gibraltar’s funds and asset management industries.
Because this sector is so new and there is so little guidance for crypto funds, GFIA feels that it’s Code may very well be adopted inother jurisdictions - if in modified format.
James Lasry, Chairman of GFIA said “the Code shows that the funds industry in Gibraltar is proactive and innovative and has a deep commitment to the principles of investor protection and corporate governance. I am delighted that even being from a small jurisdiction we were able to issue such a groundbreaking Code.”
Albert Isola, Minister for Financial Services and Gaming said “As we work to deliver best practice across our sector, I am pleased to welcome the work of GFIA in delivering their new Code of Conduct in this exciting and innovative area.“
Clearly a lot of thought has gone into this Code that gives guidance for this asset class which Gibraltar very much seeks to welcome.