Collaboration with other supervisory authorities

The JFSC has a wide range of powers to licence, supervise and enforce the regulatory regime in Jersey. We are able to exercise many of these powers at the request of, or for the purposes of assisting, overseas supervisory authorities.

The legislation provides gateways that enable us to communicate any information held to another supervisory authority to assist them in the exercise of their supervisory functions.

Handbook on International Co-Operation and Information Exchange

Memoranda of Understanding

We are signatory to 65 bi-lateral memoranda of understanding (MoU) covering 35 jurisdictions. We are also a signatory to 3 multilateral MoUs and 28 MoU with EU Member States following the implementation of the Alternative Investment Funds Mediation Directive and Alternative Investment Fund Managers Directive.

Memoranda of Understanding

International co-operation

Collaboration with other supervisory authorities occurs across the JFSC. Two notable divisions are Supervision and Enforcement. The nature of their respective interaction with overseas supervisory authorities differs.

Supervision’s focus is more routine as it focuses on the authorisations process and determination of a person’s fitness and propriety for a specific key or principal person role. Enforcement’s focus is assisting other supervisory authorities with their investigations.

Enforcement assistance provided between 2017 - 2019

Jurisdiction

2017- 2019

Australia

1

Finland

1

France

1

Greece

1

Ireland

1

Kenya

1

Poland

1

Switzerland

2

UK

6

USA

1
Total

16

Supervision - assistance provided and requested in 2019

During 2019, our Supervision team collaborated with 29 jurisdictions, with the vast majority of interactions being with the UK.

We received over 600 regulatory requests for assistance and made nearly 300 requests from others.

 

Requests to JFSC

Requests from JFSC

Australia

-

1

Bahrain

2

-

Bermuda

1

1

Brazil

-

1

BVI

1

-

Canada

1

2

Cayman Islands

3

1

Dubai

-

1

European Supervisory Authority

1

-

France

1

1

Germany

-

2

Gibraltar

2

4

Guernsey

124

90

Hong Kong

1

3

Ireland

9

2

Isle of Man

22

26

Italy

1

-

Luxembourg

1

2

Malta

11

1

Mauritius

1

1

Netherlands

2

1

Singapore

1

3

South Africa

1

4

Sweden

4

-

Switzerland

1

3

UK

424

138

USA

1

9

Zimbabwe

-

1

Total

616

298