PRESS RELEASE 2 April 2012
COMMISSION PUBLISHES CODES OF PRACTICE FOR CERTIFIED FUNDS
Today the Commission has published Codes of Practice for Certified Funds (the"Codes").
Consultation has taken place with Industry concerning these Codes and Industry has indicated its support. A Dear CEO letter was issued to Industry on 27 January 2012, which set out the changes that have been made to the Codes of Practice for Certified Funds since the publication of the Feedback Statement in August 2011.
The Codes have been issued by the Commission under powers given to it by Article 15 of the Collective Investment Funds (Jersey) Law 1988 ("CIF(J)L"). The Codes have been prepared and issued for the purpose of establishing sound principles and providing practical guidance in respect of any certified fund, and any provision of the CIF(J)L or any Regulations or Order made under it.
The Codes are arranged under eight fundamental principles which are further described, explained and delimited, as the case may be, in the Codes.
The Codes are available on the Commission’s website by clicking here.
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For further information please contact: -
David Banks - Director, Securities
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822048
Fax: + 44 (0) 1534 822047
NOTES TO EDITORS
The Commission is responsible for the regulation, supervision and development of the financial services industry in the Island of Jersey for banking, collective investment funds, fund services business, insurance business, general insurance mediation business, investment business, money service business, and trust and company service providers.
The Dear CEO letter issued to Industry on 27 January 2012, which set out the changes that have been made to the Codes of Practice for Certified Funds since the publication of the Feedback Statement in August 2011, can be viewed by clicking here.
In addition, the Introduction to the Codes, which can be found on pages 13 and 14 of the Codes, provides an overview of the Codes.