Feedback on proposed fees for General Insurance Mediation Businesses, Money Service Businesses, Trust Company Business and Designated Non-financial Businesses and Professions
We are asking for feedback on our proposed fee rates for General Insurance Mediation Businesses (GIMB), Money Service Businesses (MSBs), Trust Company Business (TCBs) and Designated Non-financial Businesses and Professions (DNFBPs).
We are suggesting an 8.5% increase in fee rates. This increase will ensure that we are fit for the future, and allow us to continue to invest in evolving our technology platforms along with our people to ensure we are working as efficiently as possible.
The new technology we have invested in has enabled significant amounts of work required by the new and revised legislation to be absorbed however, there are still elements where additional development is required.
In order for us to deliver as a high performing regulator, and to continue to meet this new legislation the funding levels have been increased.
The deadline for feedback is 24 December 2021. You can either send your responses to us directly or to Jersey Finance.
The final fees notice will take effect on or before 1 January 2022. Businesses will be notified when they need to use myJFSC to collect their invoices.