At a Glance:

Your Latest Technical Update
Ready for Brexit
Jersey – First for Finance
A Robust Defence of NPPRS
Launch of Our New York Office
Quarterly Stats
Global Privacy Enforcement Network
New CEO Blog – Let US Flow

Technical Update

Your latest Technical Update is now available to view online. Highlights of September 2019’s edition include:

  • A consultation on the implementation of mandatory disclosure rules for CRS Avoidance Arrangements and Opaque Offshore Structures
  • Jersey ready for Brexit – a guide and public events from the Government of Jersey
  • HM Revenue & Customs published the Draft Regulations: The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2019
  • MONEYVAL published the Mutual Evaluation Report Malta 2019
View Update
Ready for Brexit

The Brexit team is holding a series of free Ready for Brexit events on Monday 7 October at the Royal Yacht Hotel. The day begins with a launch event, followed by a series of business briefings and a panel discussion with a Q&A for members of the public. For more information, or to book your tickets, click here.

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Jersey – First for Finance

Launched at last month’s London flagship conferences, Jersey – First for Finance provides comprehensive coverage of the major issues and developments pertaining to Jersey’s finance industry. As this latest edition shows, Jersey remains perfectly placed to capture more global business across its core markets, while its regulatory armoury continues to evolve to meet the demand for global capital flows among international investors.

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A Robust Defence of NPPRs

An article last week in Private Funds CFO mistakenly reported that National Private Placement Regimes (NPPRs) were set to end in 2021. Our Chief Executive Joe Moynihan responded to correct this position and highlight the continued success of Jersey in accessing investment in EU Member States through NPPRs. The magazine’s response and our full letter can be read here.

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Launch of Our New York Office

We’re formally launching our new office with a drinks reception on Wednesday 16 October at The Peninsula New York. If you’ll already be in New York on that date or could tie it in with a trip you’re planning, we’d be delighted if you could join us. Equally, if you have any colleagues in New York, or relevant business contacts, who may wish to attend, please pass on this information. Registration is open now.

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Quarterly Stats

The latest quarterly stats from the Jersey Financial Services Commission have highlighted that the value of regulated funds serviced in Jersey rose by 7% to a new record high in the first half of 2019. Within the banking sector, the figures also showed the value of deposits held in Jersey grew 5% to stand at £129.3bn, the highest figure since 2015.

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Global Privacy Enforcement Network

Jersey Finance wishes to highlight work currently being undertaken internationally by Global Privacy Enforcement Network (GPEN). GPEN is a group of privacy regulators whose mission is to improve cooperation in enforcement of cross-border laws affecting privacy and to support joint enforcement initiatives and awareness campaigns. GPEN undertake periodic ‘sweeps’ to monitor privacy trends and activities. All information provided is anonymous. If you would like to participate, the Jersey Office of the Information Commissioner (JOIC) has replicated the sweep questions in a simple survey, the closing date for which is 17 October.

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New CEO Blog – Let US Flow

Recent global funds industry figures have painted an interesting picture of the cross-border investment landscape, and particularly pan-Atlantic activity. The indications in mid-2019 are that we are at something of a pivotal moment for the industry, with investors modifying their behaviour and proceeding with greater caution. IFCs like Jersey can play a vital role in helping to get the wheels back in motion by addressing the ‘blockers’ and enabling managers to tap into investor markets and put that capital to work efficiently. Read our latest blog to learn more.

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