Jersey advisers to face RDR by 2014

Jersey will bring in the new rules by 1 January 2014, which is a year after the RDR comes into force in the UK. Chris Jordan, senior manager in the investment business division of the FRC, confirmed the decision to IFAonline last week. Jersey's rules are likely to be a close copy of those being implemented in the UK by the FSA. One of the drivers for reading across the changes to the Chanel Island is to avoid regulatory arbitrage between the UK and Jersey. It is understood the Jersey regulator feared for the island's status and reputation as a jurisdiction of  global best practi...