“Predictability”, “stability”, “quality”, and “collaboration” were the key themes at today’s (9 July) annual community of interest (CofI) update for Jersey’s financial services sector.
The event featured insights from the Government of Jersey, the Jersey Financial Services Commission (JFSC), and Jersey Finance’s Market Development team.
Caroline Morgan from the JFSC’s Regulatory Risk team highlighted the crucial role of submitting high-quality data about business handled by regulated financial and related professional services providers in Jersey. She explained how accurate data collection enables the jurisdiction to report on trends in regional and sectoral business flows. This is particularly pertinent with a JFSC report due later this year that will detail these trends.
The importance of “best quality” information was further explored in the ‘Priority Markets Through a Data Lens’ panel session, moderated by Amy Bryant, Deputy CEO at Jersey Finance. Caroline Morgan was joined by Government of Jersey representatives George Pearmain, Director of Financial Crime Strategy; Tom Le Feuvre, Director of Global Markets and International Agreements; and Jonathan Groom, Director of the Financial Intelligence Unit. This segment delved into the jurisdictions Jersey’s international finance centre (IFC) collaborates with and how the Government of Jersey, JFSC, and Financial Intelligence Unit work together to manage risks and opportunities to enhance Jersey’s appeal as a destination for international business.
The panellists addressed questions on the impact of virtual assets, emerging markets in Asia, and regulatory developments in the USA, Middle East, UK, and Asia on Jersey. A key takeaway was that Jersey’s reputation for political and economic stability is a significant advantage over other competing IFCs globally.
In the market development session, moderated by Robert Moore, Jersey Finance’s UK Director, attendees received updates on developments in Jersey Finance’s priority markets (outside of the UK and EU) – Africa, Asia (including mainland China, Hong Kong, and Singapore), the Gulf Cooperation Council (GCC), and the USA.
Amy Bryant closed the event by reiterating Jersey Finance’s dedication to the Island’s financial services industry.
In summary, the event emphasised the importance of keeping Jersey at the forefront of international finance and continuing to attract high-quality global business through collaboration with the government, industry and financial services regulator.
Visit Flickr to view the ‘Developing Global Opportunities Together’ annual community of interest (CofI) event photos.
