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By the Jersey Financial Services Commission
We live in a time of great international uncertainty. Longstanding assumptions about political norms and markets are being upended, bringing both challenges and opportunities.
Responding effectively to change is nothing new to Jersey. For more than 60 years, we have shown our ability to adapt and prosper in the face of global instability. Key to our success is supporting entrepreneurship while prioritising the long-term stability of our economy.
Why finance matters
Finance powers 40% of Jersey’s economy. It supports more than 14,000 jobs and helps fund the services we all rely on, from schools to healthcare. It is a critical part of Island life.
How we enable Jersey
The Jersey Financial Services Commission (JFSC) is the Island’s financial regulator. We’re here to help Jersey thrive by making sure our financial system is safe, trusted, and open for business. Our role is set out in law to:
- defend Jersey’s reputation
- protect the public
- facilitate business for Jersey
- fight financial crime
Strong and effective regulation is essential for the success of our island’s largest industry.
Regulation is essential for growth:
- it builds confidence, attracting investment to the Island
- it keeps the financial system stable
- it’s Jersey’s passport to global markets
- in short: good regulation is good business
International regulatory standards are essential, and meeting them has served our island well. However, it matters how we apply those standards – we must adapt them to work for Jersey. We prioritise proportionality and pragmatism, without compromising the robustness needed to protect the public and market integrity.
Made to serve
Our teams serve Jersey with purpose, passion and pride:
- Registry enables every Island business by managing our companies and foundations registers, among others.
- Policy keeps our regulatory framework up-to-date and effective, including working with our Innovation Hub.
- Supervision works with regulated businesses to make sure they are meeting their regulatory obligations.
- Enforcement investigates serious misconduct and takes action when needed.
Delivering value for money
With international regulatory standards developing significantly over recent years, more is now expected of regulators. This means our remit has expanded, requiring a period of growth in response. Our focus now is on improving how things work, making sure our team, approach and systems are strong and ready for the future.
The JFSC is funded by fees from regulated and registered businesses. We are reforming our fees with a focus on fairness, transparency and Jersey’s international competitiveness.
Responsiveness and flexibility are key
Responding to changing local and international conditions is critical to being an effective regulator. Jersey’s needs are always evolving – there is no room for complacency.
Global economic challenges mean that unlocking growth is an urgent priority. We are focused on competitiveness: preserving our island’s strengths and finding new opportunities in a changed world.
