Member CommunicationsLegislation
Relevant legislation governing the finance industry of the Island includes the following laws and their amendments - available directly from the Jersey Legal Information Board.
Jersey Financial Services Legislation
Trusts (Jersey) Law 1984
A modern legal framework is provided for the establishment of trusts, setting out clearly the rights of beneficiaries and the obligations of trustees. The Island is a party to The Hague Convention on the Law Applicable to Trusts and on Their Recognition.
Collective Investment Funds (Jersey) Law 1988
Mutual funds such as unit trusts and open-ended investment companies are approved with regard to the promoter's history and expertise, as well as compliance with various investor protection criteria.
Jersey is a full member of the International Organisation of Securities Commissions and recognised funds can be marketed freely in the United Kingdom and many other countries by virtue of the Island's designated territory status.
Financial Services (Jersey) Law 1998
Under this Law, the Jersey Financial Services Commission licenses and supervises the conduct of businesses providing investment and fiduciary services (including trustee services).
Banking Business (Jersey) Law 1991
All banks operating in Jersey are licensed and supervised. The Island complies in full with the minimum standards and core principles adopted by the Basle Committee on Banking Supervision.
Proceeds of Crime (Jersey) Law 1999 and the related Money Laundering (Jersey) Order 2008
This Law and its related Order define the offence of money laundering, impose obligations on financial service providers to help prevent money laundering and allow Jersey's Courts to confiscate funds that have been found to originate from criminal activities. The Island adheres to the 40 Recommendations of the Financial Action Task Force in relation to its anti-money laundering work.
Companies (Jersey) Law 1991
Limited Liability Partnerships (Jersey) Law 1997
Limited Partnerships (Jersey) Law 1994
A wide range of corporate structures can be set up and are supervised by this legislation.
Insurance Business (Jersey) Law 1996
This enables the supervision of all forms of insurance business, including reinsurance and life assurance.
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