The JFSC issue Consultation Paper Proposed Amended Outsourcing Policy No. 6 2016 Issued: 18 July 2016 A consultation on proposals in relation to the Outsourcing Policy to: › amend the scope of the policy regarding outsourced activity; › define key terms and include a glossary to remove ambiguity; › remove the distinction between delegation and […]

The Jersey Financial Services Commission (JFSC) has today published its Annual Report and financial statements for 2015. Some highlights include During 2015, 76 new enforcement cases were opened. Although fewer than the number of cases opened in 2014, the JFCS suggest this is dues to the complexity of cases has generally increased. As at the […]

The JFSC have announced several of the Codes of Practice currently in force will be superseded by amended versions on 1 September 2016. Some of the main changes are to introduce the Ombudsman’s Office re complaints. There is a change in references to working days being to business days. Also that notifications to the JFSC […]

The Jersey Financial Services Commission (JFSC) issues this Press Statement in respect of the recent Royal Court Judgment dated 11 May 2016, which made a procedural ruling following proceedings in November 2015 involving SWM Limited (SWM). Whilst respecting the decision of the Royal Court, the JFSC wishes to clarify its stance in the context of […]

JFSC appoints new Head of Supervisory Risk   The Jersey Financial Services Commission (JFSC) has announced the appointment of Andrew Garbutt as Head of Supervisory Risk within its Supervision Division. Andrew, who has worked in regulation in the UK for more than ten years, will be responsible for heading up the JFSC’s new Supervisory Risk […]

A Changing Commission- Issue 1 This 11 December 2015  paper explains how the Jersey Financial Services Commission (JFSC) intends to change the way it will regulate firms in the future and how entities will interact with us going forward. It will be the first of several communication pieces to industry over the coming months detailing […]

The JFSC has issued the Trust Company Fees Notice on 19 February 2016 FOR the period from 1 January 2016 – 31 December 2016. NOTICE OF FEES – Published in accordance with: Article 15 of the Financial Services Commission (Jersey) Law 1998, as amended Payable by or in relation to: TRUST COMPANY BUSINESS Pursuant to: […]

Jersey Financial Services Commission can now impose civil financial penalties for significant and material contraventions of the Codes of Practice and the AML/CFT Handbook. The level of fines has been set and the JFSC has published a statement on the principles and processes it will adopt under the civil penalties regime. Who is affected? All […]