| Department | Department for the Economy |
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| Start date | 16/12/2025 |
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| End date | 30/01/2026 |
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| Type of consultation | Green paper |
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| Deadline for comments | 30/01/2026 |
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About the consultation
We want your views on proposed changes to the maximum penalties that may be imposed on a registered person in Jersey under a Financial Services Commission (Financial Penalties) (Jersey) Order 2015.
Feedback is sought on 3 proposals:
- to increase the cap of £100,000 for Band 1 contraventions
- to restore a cap of £4m for Band 2 and 2A contraventions
- to retain current position of there being no cap for the most serious contraventions, which fall under Band 3
These proposals seek to ensure Jersey maintains compliance with Financial Action Task Force recommendations, which demand the implementation of a range of effective, dissuasive and proportionate sanctions.
Background
As a leading and well-regulated international finance centre, Jersey is committed to implementing international standards to detect and combat financial crime. This is shown through its most recent independent assessment against the Financial Action Task Force (“FATF”) standards, published in 2024.
Government considers now to be an appropriate point in time to review the financial penalties regime to ensure that it is fair and meets international standards.
How to submit comments to the consultation
You can respond to this consultation by email to growthfs@gov.je, or by post, to:
FAO Miguel Zaragoza, Department for the Economy
Government of Jersey
Union Street
St Helier
JE2 3DN
Data protection
The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018. Find more information in the Department for the Economy Privacy Notice.
The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent.
Types of publishing may include, for example, sending to other interested parties on request, sending to the Scrutiny Office, quoting in a published report, reporting in the media, publishing on the Government website, and listing on a consultation summary.
Confidential responses will still be included in any summary of statistical information received and views expressed.
Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.
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