Servicing non-Jersey funds in Jersey
Since the introduction of the FSB Codes and related changes to the funds legislation in Jersey, in most cases a Jersey entity that wishes to carry on fund services business in relation to a publicly offered non-Jersey fund will be able to do so entirely under its FS Law registration acting in accordance with the FSB Codes. This briefing distinguishes between non-Jersey funds that are publicly offered and those that are not.
Any entity proposing to carry on Fund Services Business in Jersey in respect of a publicly-offered Non-Jersey Fund must be registered to conduct Fund Services Business under the FS Law. A Fund Service Provider acting for a publicly-offered Non-Jersey Fund must comply with the full FSB Codes unless it is a Managed Entity acting for a Non-Jersey Fund “materially equivalent” to a Jersey Expert Fund in which case it need only comply with the core principles of the FSB Codes plus the standard conditions attached to its registration under the FS Law. A Fund Service Provider is required to notify the JFSC that it has been appointed to act for a new publicly-offered Non-Jersey Fund…
If you are registered and logged in to the site, click on the link below to read the rest of the Mourant Ozannes briefing. If not, please register or sign in with your details below.
News from Mourant Ozannes
Briefings from Mourant Ozannes
The Contracts (Rights of Third Parties) Law 2014 is now in force.
Tantular v AG: Royal Court in Jersey provides clarification as to the impact of saisies judiciaires on discretionary trusts
A saisie judiciaire may not be granted over the assets of a discretionary trust merely on the grounds that the offender (or suspected offender) is a beneficiary.