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We are the regulator for financial services in the Channel Island of Jersey.
We are responsible for regulating, developing and supervising the Island’s financial services industry. We aim to deliver balanced, progressive, risk-based financial regulation, built on insight, integrity and expertise.
Our mission is to maintain Jersey's position as a leading international finance centre, with high regulatory standards, and to adhere to our guiding principles which are:
reducing risk to the public of financial loss due to dishonesty, incompetence, malpractice or the financial unsoundness of financial service providers
protecting and enhancing the reputation and integrity of Jersey in commercial and financial matters
safeguarding the best economic interests of Jersey
countering financial crime both in Jersey and elsewhere
authorising, supervising, overseeing and developing financial services in Jersey
enforcing the Commission Law
reporting, advising, assisting and informing the Government of Jersey and public bodies
operating the Companies Registry.
We aim to fulfil these responsibilities by:
ensuring that all authorised financial services businesses and individuals meet the appropriate criteria and that we, as the regulator, match international standards of banking, securities, trust company business, and insurance regulation
playing our role in combatting the financing of terrorism and financial crime as part of the wider international effort
working closely with fellow regulators and law-makers to ensure access to efficient and effective markets for financial services
reacting to and, where appropriate, anticipating changes in markets and the financial services industry by developing policy and the way we supervise
acting as an agile, thoughtful, proportionate regulator that gives fair consideration to both the costs and benefits of regulation
We regulate the following:
collective investment funds
fund services business
general insurance mediation business
money service business
trust and company service providers
We also supervise the following for anti-money laundering and countering the financing of terrorism (AML/CFT):
high value dealer
virtual currency exchange businesses
and certain other businesses eg lenders.
We also register non-profit organisations for countering of terrorist financing purposes.
Another of our core functions is to operate the Companies Registry which registers Jersey companies, partnerships, foundations and business names.
Our Registry responsibilities include:
acting as Jersey’s first line of defence (second line for regulated businesses) for AML/CFT defence checks
assessing and recording beneficial ownership and control details
monitoring and vetting adherence to the Sound Business Practice Policy
Within the international registry community, Jersey is regarded as a centre of excellence for our registries. This can be seen for example by our agreement to provide shared services to government on request. The Registry manages global continuance, cross-border mergers and international transparency requirements.