PRESS RELEASE 14 November 2007

COMMISSION PUBLISHES CODES OF PRACTICE FOR FUND SERVICES BUSINESS

Following approval, by the States of Jersey, on 7 November 2007 of the Regulations that effect the transfer of regulation of fund functionaries from the Collective Investment Funds (Jersey) Law 1988 to the Financial Services (Jersey) Law 1998, the Commission has today published Codes of Practice for Fund Services Business (the “Codes”).

Consultation has taken place with Industry concerning these Codes and the transfer of functionaries in general and Industry has indicated its support.

The Codes consist of seven high level principles for the conduct of fund services business, together with more detailed requirements in relation to each principle.

The Codes are available on the Commission’s website by clicking here.

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For further information please contact: -

David Banks
Director, Securities
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822048
Fax: + 44 (0) 1534 822002
Email: d.banks@jerseyfsc.org