Walkers’ Jersey team advised Bank Frick on the launch of a white-labelled structured notes and certificates platform. The platform enables the bank to support third party investment managers to form a protected cell to follow the investment manager’s investment strategy and issue actively managed certificates (AMCs) to professional investors. The first investment manager to launch a cell on the platform has a strategy to acquire virtual assets. A number of further cells have been formed for other investment managers following various investment strategies, demonstrating the popularity and interest in the platform and Jersey as a jurisdiction for issuers of AMCs. Jersey was chosen given the statutory ring fencing of assets and liabilities that a Jersey-protected cell company offers, in addition to the proportionate regulation of such structures requiring approval from the Jersey Registry for the issue of the AMCs, and in particular given the investment strategy involves investment in virtual assets.
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