Active Corporate Services (Jersey) Limited Summary Of Services August 2010


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Overview of Services provided by Active Group in Jersey

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Active Corporate Services (Jersey) Limited Summary Of Services August 2010

  1. 1. Active Corporate Services (Jersey) Limited Summary of Services August 2010 Mark Hill
  2. 2. Compliance, Governance , Support… <ul><li>Founded in 2001, the Active Group offers a broad range of practical, proactive and forward-thinking advice as well as business support services through a team of 50 specialists in Guernsey, Jersey and Cayman. </li></ul><ul><li>Core services include: </li></ul><ul><li>Management Services </li></ul><ul><li>Compliance Services </li></ul><ul><li>Training </li></ul><ul><li>Project management </li></ul><ul><li>Support services including assistance with incubation </li></ul><ul><li>Provision of non-executive directors </li></ul>
  3. 3. Compliance, Governance , Support… <ul><li>In 2009 Active Corporate Services (Jersey) Limited (“ACSJ”) became regulated by the JFSC in the conduct of Trust Company Business and Fund Services Business. </li></ul><ul><li>Core services include: </li></ul><ul><li>Provision of independent non executive directors </li></ul><ul><li>Provision of MLRO, MLCO and CO services </li></ul><ul><li>Acting as a Manager of a Managed Entity (“MoME”) </li></ul><ul><li>Provision of Registered Office </li></ul><ul><li>Provision of Company Secretary </li></ul><ul><li>Services provided to: </li></ul><ul><li>Funds and fund like structures including entities providing services to, and investees in, investment management related clients. </li></ul>
  4. 4. Non-Executive Director Services… <ul><li>Establishment </li></ul><ul><li>ACSJ will, prior to Fund lunch, engage with offshore and onshore legal counsel, fund sponsor and local administrator to undertake a comprehensive review of the following to ensure a seamless lunch of the Fund: </li></ul><ul><li>Fund offering document </li></ul><ul><li>Investment management and administration agreements </li></ul><ul><li>Prime brokerage/custodian agreement </li></ul><ul><li>Distressed Funds Situations </li></ul><ul><li>Assist with recovery and restructuring </li></ul><ul><li>Resolution of counterparty issues </li></ul><ul><li>Valuation disputes </li></ul><ul><li>Review of governance structure </li></ul>
  5. 5. Non-Executive Director Services… <ul><li>Annual Audit and Financial Statements </li></ul><ul><li>ACSJ will, on an annual basis and prior to the approval of the financial statements require a board meeting to be held with the following participants: </li></ul><ul><li>Administrator </li></ul><ul><li>Investment Manager </li></ul><ul><li>Auditor </li></ul><ul><li>In addition ACSJ will work closely with all interested parties </li></ul><ul><li>during the audit process and during the preparation of the financial statements to ensure timely reporting to investors and regulators alike. </li></ul>
  6. 6. Non-Executive Director Services… <ul><li>Monitoring and Risk Management </li></ul><ul><li>ACSJ will require, as part of our on-going monitoring of the Fund, the following information for each NAV calculation period: </li></ul><ul><li>Balance sheet statement </li></ul><ul><li>Profit and loss statement </li></ul><ul><li>Investment schedules </li></ul><ul><li>Any class, series and capital account allocations </li></ul><ul><li>Any monthly/quarterly letters (including side letters) </li></ul><ul><li>to investors prepared by the Investment Manager </li></ul><ul><li>Any opinions or reports on difficult to value asset valuations. </li></ul><ul><li>In addition ACSJ will undertake initial and annual ongoing due diligence on all service providers to the Fund and may participate on management engagement committees if required. </li></ul>
  7. 7. Independent MoME Services… <ul><li>Corporate Governance </li></ul><ul><li>ACSJ will provide the following to ensure demonstrable corporate governance and substance of regulated FSB’s including fund manager entities: </li></ul><ul><li>Monitoring of outsourced functions in accordance with the </li></ul><ul><li>Commissions (“JFSC”) published policy on outsourcing </li></ul><ul><li>Provision of credible and experienced directors </li></ul><ul><li>Availability of directors and staff to ensure regulatory and </li></ul><ul><li>transactional deadlines are complied with </li></ul><ul><li>Assist with the provision of premises and resources to </li></ul><ul><li>new market entrants </li></ul>
  8. 8. Regulatory Compliance Services… <ul><li>Regulatory Compliance </li></ul><ul><li>ACSJ will, where required, provided FSBs with a dedicated MLRO, MLCO and CO to undertake the following: </li></ul><ul><li>Implement compliance monitoring programmes </li></ul><ul><li>Act as statistics officer and contact with the JFSC </li></ul><ul><li>Preparation and implementation of compliance manuals </li></ul><ul><li>Provision of legal and regulatory updates to the board </li></ul><ul><li>Preparation of risk and compliance board papers </li></ul><ul><li>Maintenance of regulatory registers </li></ul><ul><li>In addition ACSJ can arrange, through its parent company, Active Services (Jersey) Limited tailored AML and compliance training for all staff employed by the regulated entity. </li></ul>
  9. 9. Registered Office Services… <ul><li>Provision of Registered Office </li></ul><ul><li>ASJL will, with regard to fund, fund like structures and investment managers, provide the following services: </li></ul><ul><li>Facilitate onward payment of the registrars annual returns and fees </li></ul><ul><li>Hold and maintain the minute book of all meetings for inspection </li></ul><ul><li>Maintain a register of members, directors and secretary </li></ul><ul><li>Host board and shareholder meetings as required </li></ul><ul><li>Submit resolutions, notices and financial statements to the </li></ul><ul><li>registrar as required </li></ul>
  10. 10. Company Secretary Services… <ul><li>Secretarial Services </li></ul><ul><li>ACSJ will liaise with the Directors and service providers to ensure that: </li></ul><ul><li>Times and venues for all meetings are scheduled in advance </li></ul><ul><li>Relevant notices and agendas are circulated to all parties </li></ul><ul><li>Board packs and supporting reports are assembled and distributed </li></ul><ul><ul><li>to all parties </li></ul></ul><ul><li>Minutes are taken of each meeting and are reviewed prior </li></ul><ul><ul><li>to circulation and statutory records updated accordingly </li></ul></ul><ul><li>In addition, ACSJ can provide additional services, such as: </li></ul><ul><li>Submission of stock exchange announcements </li></ul><ul><li>Arrangements for holding an AGM, including drafting and issue </li></ul><ul><li>of notices, proxy forms and resolutions </li></ul>
  11. 11. For Additional Information… Mark Hill Director +44 (0)1534 828975 [email_address] Mike Veillard Director +44 (0)1534 828973 [email_address] Active Corporate Services (Jersey) Limited First Floor 32 Commercial Street St. Helier Jersey JE2 3RU Email: Markus Kubeck Managing Director +44 (0)1534 828976 [email_address]
  12. 12. Jurisdictions… Jersey Guernsey Grand Cayman