The Commission has today published a Consultation Paper setting out the proposed fees for Collective Investment Funds and Fund Services Businesses.

The base line application and annual fees for Collective Investment Funds have not increased since 2002. The proposed increases are significant but where possible they have been kept in line with, or below the cumulative annual Jersey Retail Price Index since 2002 or from the date of the last increase. If agreed, the proposed fees will take effect from 1 July 2012.

The increase in fees is required at this time to partly fund the existing operational needs for this sector, as these are running at a significant annual deficit which is currently being covered by the Commission’s Reserves. The increase also reflects the identified need for additional policy resources necessary for Jersey to continue to align its regulations with International Standards and emerging European Union (EU) requirements.

Responses to the Consultation Paper are invited and should be provided, in writing, to the Commission in line with the timescale stated in the Consultation Paper.

The Consultation Paper may be viewed on the Commission’s Website by clicking here:
http://www.jerseyfsc.org/the_commission/general_information/consultation_papers/index.asp

Paper copies may be obtained from the Commission’s reception area.