Both Jersey and Guernsey were initially given a clean bill of health by the European Securities and Markets Authority a year ago, and the authority has now reiterated that decision and added Canada, Japan and Switzerland to its list of countries where there are ‘no significant obstacles’ to full market access.
ESMA’s latest announcement also states that a further seven countries, including Hong Kong and Singapore, may be granted a passport extension on the proviso that action is taken in specific areas.
The news has been widely welcomed by the Island’s financial services industry, following a period of engagement between the Jersey Financial Services Commission and the European authority and other EU regulators.
