Fees increased by 15.4% for TCB, GIMB and MSB sectors
In November 2022, we asked Industry for feedback on proposed changes to our fees for the Trust Company Business (TCB), General Insurance Mediation Business (GIMB) and Money Service Business (MSB) sectors. We received a number of responses, including a consolidated response from the Jersey Association of Trust Companies.
In light of the feedback received, we are now proceeding with the 15.4% increase in fee rates which takes effect from 1 January 2023. This doesn’t take into account the civil financial penalty discount of approximately 20% which will reduce invoiced fees for Trust Companies, there have been no penalties issued to GIMB or MSB entities.
Relevant businesses will receive notification via myJFSC that an invoice is ready for them.