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Industry update

Submit your feedback on proposed improvements to the Sound Business Practice Policy

We are pleased to share the draft version of the revised Sound Business Practice Policy (‘SBPP’), which is now available for public review and comment.

What is the SBPP?

The SBPP is a framework jointly developed by the Government of Jersey and the Jersey Financial Services Commission (JFSC) to identify and manage activities that may pose reputational risks to Jersey’s financial and commercial integrity.

These activities are not prohibited, but they are considered sensitive and therefore subject to enhanced scrutiny when applications are submitted under the Control of Borrowing (Jersey) Order (COBO). The SBPP ensures that Jersey maintains high standards of business conduct by requiring applicants to provide additional information and meet specific conditions where necessary, particularly in cases involving high-risk jurisdictions, controversial sectors, or complex ownership structures.

What changes are proposed?

The proposed revisions have been jointly drafted by the Government of Jersey and the Jersey Financial Services Commission, informed by feedback received from industry stakeholders through the Government of Jersey’s Competitiveness Programme. This collaborative approach ensures the policy reflects both regulatory priorities and practical considerations from across the financial services sector.

Key proposed changes include:

  • improved clarity and accessibility: general updates to the wording of the policy
  • removal of Table 1:Registry will continue to require information on applications where regulated financial services activity is proposed
  • revision of Table 2: to modernise the policy and align with current international standards and risk considerations. It also includes a new category for activities involving FATF black list and suspended members, including Russia. This new category is proposed to replace the ‘Russia statement’.

Read the revised draft Sound Business Practice Policy

Submit your feedback

Please submit your feedback by 16:59pm on Wednesday 6 August 2025. Email your comments to our Policy team at: policy@jerseyfsc.org

What happens next?

Once the consultation period closes, we will carefully consider all feedback before publishing the final version of the policy. The policy changes will require system updates, including revisions to application forms and internal processes. These updates may take some time to be fully implemented.

In the meantime, we will publish interim arrangements to guide how applications can be submitted in line with the updated policy. These transitional measures will ensure continuity and clarity for applicants during the implementation phase.