Monday 10 December 2018
Select a region

JFSC launches "ground-breaking" online application tool for Private Funds

JFSC launches

Friday 10 August 2018

JFSC launches "ground-breaking" online application tool for Private Funds

The Jersey Financial Services Commission (JFSC) has launched an online application tool for Jersey Private Funds (JPF), which they claim is ground-breaking for both themselves and the industry, as it will transform the way in which applications are processed for new licences.

The launch is a part of the JFSC’s Change Programme and its e-enablement strategy; it is hoped it will speed up application turnaround times and improved efficiencies.

Jill Britton (pictured), Director of Supervision, commented: “The JPF online application is really exciting and hugely important for the island, as it lays the foundation blocks for enabling our future online capabilities, as a regulator, and is the first step in providing end-to-end authorisations for new licenses across all sectors that we supervise.”

In order to develop the application and test the portal prior to launch, the JFSC worked with an external user group of financial services firms, including Langham Hall Fund Management.

Paul Monahan, Director of Langham Hall, said: “The JFSC’s new online portal looks set to change how Industry interacts with our regulator and all applications and notifications will be paper-free by early 2019. The system is autonomous and provides the potential for instant approvals for suitable applicants, which could be a real game- changer when it comes to application timescales.”

Jersey Private Funds were introduced in March 2017 to provide institutional and professional investors with a more streamlined, fast-track regime. The structure proved popular with the 100th structure registered almost exactly a year after the product was launched.

Sign up to newsletter


New tax clerk sworn in


Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

Once your comment has been submitted, it won’t appear immediately. There is no need to submit it more than once. Comments are published at the discretion of Bailiwick Publishing, and will include your username.

There are no comments for this article.

To place a comment please login

You have landed on the Bailiwick Express website, however it appears you are based in . Would you like to stay on the site, or visit the site?