Consumer Credit Secondary Legislation

About the consultation

We would like the views of both consumers and industry on a package of secondary legislation designed to create a fair, transparent and proportionate consumer credit framework.​

These reforms support the implementation of the consumer credit regime under the Financial Services (Jersey) Law 1998 (the Financial Services Law), which was amended by the Financial Services (Jersey) (Amendment) Law 2025 and adopted by the States Assembly in July 2025. 

They respond to the growing use of credit in Jersey, alongside concerns about: 

• affordability
• transparency of charges
• contract clarity
• debt collection practices
  

This consultation covers 4 pieces of legislation required to enable the consumer credit regime to operate:

1. The Draft Financial Services (Financial Service Business) (Classes) Amendment Order, which defines the activities that require authorisation, establishing the regulatory perimeter for consumer credit business and providing clarity and proportionality for firms operating in the market.
   
2. The Draft Financial Servies (Consumer Credit Business – Exemptions) Order, which proposes targeted exemptions for low-risk or ancillary activities, ensuring that the regulation remains proportionate and avoids unnecessary burden while maintaining appropriate consumer protection.
3. The Draft Finan​cial Services (Wider Consumer Credit Business) Regulations 202-​, which introduces conduct standards for lenders and credit service providers. These include, amongst other things, requirements on fair contract terms, pre-contract disclosure, advertising, affordability and creditworthiness assessments, protections for vulnerable consumers and borrower rights such as cooling off and reflection periods.
4. The Draft Financial Service​s (Consumer Credit Debt Collection) Regulations, which introduce statutory conduct requirements for debt collectors. These focus on requirements for clear and non-aggressive communication, accurate information, dispute resolution, complaints handling and enforcement, strengthening protections for borrowers experiencing financial difficulty.

The legislative framework introduces a two-tier structure for regulating consumer credit activity.

The two-tier approach makes a distinction between authorised firms, supervised by the Jersey Financial Services Commission and those that are exempt from authorisation but are subject to the Wider Consumer Credit Regulations overseen by Trading Standards.

JFSC authorisation

The amendment to the Financial Services Law included “consumer credit business” as a new form of financial services business.  

Those firms undertaking the following activities will be required to be authorised and regulated by the JFSC (unless they are exempt):

• Provision of credit
• Ancillary services
  
• Advising
• Credit broking
• Debt management (adjusting, counselling and administration)​
  

Public meeting dates

​Public meetings are being arranged for May.

You can also be notified by following Department for the Economy on LinkedIn.

How to submit comments to the consultation

You can fill out the consultation either with the consultation document or with the online survey. Survey submissions shuld be received no later than Friday 29 May 2026.

Complete the consumer credit legislation survey

Consultation: Consumer Credit Regime - Secondary Legislation​

Responses may also be submitted:​

• by email: economy@gov.je​
  
• in writing to:
  
• FAO Julie Keir
  Financial and Professional Services Unit
  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:

• 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
• 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.​