The latest phase in the modernisation of the financial services framework is central to efforts to keep the island competitive as an international finance centre. The new rules will make it easier for incorporation of Jersey vehicles, and for businesses operating in the jurisdiction, and remove a framework ‘created for a different time and a different economy’.

Central to the latest reforms are approved changes to prospectus requirements effective immediately and proposed legislation to repeal the remaining ‘control of borrowing’ requirements. These reforms are designed to ‘simplify processes and provide a more flexible foundation for the future’.

The changes form part of the Government of Jersey’s Financial Services Competitiveness Programme to strengthen the island’s long-term competitiveness as an international finance centre, and are design to make Jersey a ‘simpler and more consistent jurisdiction to use while maintaining appropriate regulatory oversight’.

Appro