11% fee increase proposed for funds businesses
We are asking for feedback from funds businesses on a proposed 11% increase to the sector’s fee rates.
This increase is due to:
- Headline fee rates being subject to an increase of 5% above Retail Prices Index (RPI) to compensate for changes we are seeing in the funds sector, specifically a reduction in the number of asset pools and a small reduction in the number of Funds Service Businesses.
- The Commission Law contemplates increases to fees in line with RPI, which was recorded as 6% in March 2022. However, the cost of regulation continues to rise well in excess of this metric.
The deadline for feedback is Friday 24 June 2022. You can send your comments directly to us (fscaccountsteam@jerseyfsc.org) or Jersey Finance.
Following this consultation, we will publish feedback and the final fees notices in June. Fees will be administered via myJFSC. Businesses will receive an email prompt to notify them that an invoice is awaiting payment.
If you have any questions please contact our accounts team.