Jersey 'better regulated' than UK - report

clock

Jersey's compliance with international financial regulation and supervision rules has pushed it ahead of the UK, according to an International Monetary Fund (IMF) report.

The Financial System Stability Assessment Update (FSSA) report places Jersey in the top division of international finance centres, with the state meeting 44 of its 49 recommendations compared to the UK's 36. It also acknowledges Jersey's laws have been amended to enhance compliance with international standards and confirms the jurisdiction's banking system is resilient to a range of shocks. Furthermore, the report says Jersey Financial Services Commission (JFSC) conducts its functions in "a transparent and accountable manner," with "robust" anti-money laundering rules. The report ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Offshore Investment

New awards will celebrate excellence in Channel Islands financial services

Entries now open - deadline for submissions 8 June 2016

Professional Adviser
clock 17 March 2016 • 1 min read

Who won at the International Fund & Product Awards 2015?

Canada Life International, Schroders, and Old Mutual International among winners

Professional Adviser
clock 08 October 2015 •

Revealed: Winners of the 2015 Fund Services Awards

Firms offering services to asset managers honored at gala dinner

Professional Adviser
clock 08 October 2015 •