Jersey Financial Services Commission Explained

Jersey Financial Services Commission
Headquarters:14-18 Castle Street, St Helier, Jersey[1]
Jurisdiction:Jersey
Chief1 Name:Mark Hoban
Chief1 Position:Chair
Chief2 Name:Jill Britton
Chief2 Position:Director General
Budget:£17 million (2018)[2]
Employees:140 (2018)
Coordinates:49.1847°N -2.1109°W

The Jersey Financial Services Commission (JFSC) is the regulatory body for financial services in Jersey. It is also the Registrar of Companies for Jersey.[3]

History

The JFSC was set up as an independent body by law in 1998.[4] Its responsibilities include the regulation of the banking and finance sectors, the registration of companies in Jersey, and "promoting the Island as a centre for financial services". The law was later amended to remove the latter mission.[5] [6] Since then, the commission has been responsible for the implementation of the gradually tighter regulation of the offshore financial activity in Jersey, under international pressure against money laundering and tax avoidance.[7] [8]

External links

Leadership

Following the appointment of former Director General Martin Moloney as Secretary General of IOSCO,[9] Jill Britton was appointed the Commission's Director General in 2021, the first woman to hold the role.[10]

Mark Hoban became Chair of the Commission in April 2020,[11] succeeding John Eatwell.

See also

Notes and References

  1. Web site: JFSC - Contact Us. 2019-09-19.
  2. Web site: Jersey Financial Services Commission Annual Report 2018. 2019. 2019-09-19.
  3. Web site: Jersey Financial Services Commission - Registry . jerseyfsc.org. 2020-07-01.
  4. Web site: Financial Services Commission (Jersey) Law 1998 (original version). jerseylaw.je. 2019-09-19.
  5. Web site: Financial Services Commission (Jersey) Law 1998 (revised version). jerseylaw.je. 2019-09-19.
  6. Web site: Jersey Financial Services Commission. 20th anniversary seminar. 2018. 2019-09-19.
  7. Web site: Prime Minister's letter on beneficial ownership. Cameron. David. David Cameron. 2014-04-25. GOV.UK. en. 2019-09-19.
  8. Too much information: when the UK gets it wrong. Filippo. Noseda. Jersey and Guernsey Law Review. 2017. 2017. 2. 1366-9354. 2019-09-19 .
  9. Web site: 2021-07-01 . IOSCO Names New Secretary General . 2022-11-19 . Lexology . en.
  10. Web site: Jill Britton has been appointed as new Director General . 2022-11-19 . Jersey Financial Services Commission . en.
  11. Web site: JFSC appoints two new commissioners . 2022-11-19 . www.jerseyfsc.org.