Jersey is rated as one of the most successful international finance centres in the world. The financial and professional services industry is a significant contributor to the Island's economy. The industry is made up of the following sectors:
- banking
- private wealth and philanthropy
- fund management
- company administration
- legal
- accountancy
- investment advisory services
- the servicing of a wide range of corporate vehicles
About the Financial and Professional Services Team
The
Minister for External Relations has responsibility for financial services legislation and policy in Jersey. He is assisted by the
Minister for Treasury and Resources.
The Financial and Professional Services Team, which sits within the
Department for the Economy, has the overarching goal of supporting Jersey's financial and professional services industry and its economic wellbeing and sustainability for the benefit of all Islanders, whilst maintaining Jersey's reputation as an international finance centre of choice.
The team works with stakeholders both locally and internationally on policy initiatives that benefit the financial and professional services industry and the Island.
What we do
The Team develops legislative proposals to meet the needs of the financial services industry and is currently focussed on key deliverables for the
Financial Services Competitiveness Programme.
We work to uphold Jersey's reputation as a leading international finance centre by adhering to the highest possible global standards particularly in
the fight against financial crime. Our team plays a key role in representing Jersey at international bodies such as MONEYVAL and the Financial Action Task Force (FATF), ensuring that our approach remains aligned with evolving global expectations.
We give advice to Ministers on both policy and legislative proposals affecting the financial services industry.
The team is also key in co-ordinating inter-department and agency activities. This includes establishing working groups across Government, the Jersey Financial Services Commission (JFSC) and the financial and professional services industry through Jersey Finance Limited (JFL), as well as through direct engagement with industry sector trade bodies.
The strategic policy priorities are set out in the Government's
policy framework for the Jersey financial services industry.
Along with our support for the financial services industry, we:
- promote Jersey as an international finance centre,
- advocate for innovation in the financial services sector, and
- support the development of education and skills for the future
Current projects and consultations
The team works on a wide range of initiatives. Industry updates on many of them are provided at briefings. The most recent, in July 2025,
was recorded and can be watched on YouTube.
FinTech, RegTech, AI and Digital Assets
Government is committed to supporting innovation in financial services. We believe that the digital asset sector is going to grow substantially in the medium-term and want to support Jersey-based firms who operate in the sector with a risk-based and proportionate approach.
We work with industry, the JFSC, Digital Jersey and JFL to shape a clear strategy for the adoption and use of technology.
Credit cards
Engaging with credit card providers and credit reference agencies to support
continued provision of credit card services to Islanders.
Trusts Law
The Working Group meets as required to consider topics of interest to trust practitioners and trustees. Amendments are being made to the Trusts (Jersey) Law 1984. These include points related to the trustee lien, when beneficiaries can call for the termination of a trust, the ability of a sole trustee to resign, and some minor matters of clarification.
Consumer Credit
We are working to modernise
Jersey's consumer credit regime.
Beneficial Ownership Transparency
Supporting the continued development of Jersey's beneficial ownership transparency policy, particularly access to the beneficial ownership register, in line with developing international standards.
Companies Law
We are working on amendments to the
Companies (Jersey) Law 1991 , to ensure the legislation remains competitive. This includes considering the introduction of a new administration regime.
Control of Borrowing Framework
We are currently working on the repeal of the COB Framework. This is a complex initiative and will take some time to implement in full.
Deposit compensation transfer to the Jersey Resolution Authority
The responsibilities for depositor compensation will transfer from the Jersey Bank Depositors Compensation Board to the Jersey Resolution Authority on 1 April 2026. This transfer does not affect the level of protection for depositors.
Fraud
We are working with the JFSC and other stakeholders to mature the Island's response to fraud risk.
Financial Crime
The Team leads Jersey's strategic response to financial crime through the National Financial Crime Workplan. This includes implementing recommendations from the latest MONEYVAL Mutual Evaluation Report, delivering an ongoing programme of financial crime risk assessments, and preparing for Jersey's next MONEYVAL assessment. The Workplan ensures Jersey remains aligned with international standards and continues to strengthen its defences against financial crime.
The team
Trade associations and the regulator
Jersey Finance Limited is the representative body for financial services. It is funded through members of the financial and professional services industry, and Government. JFL has a presence in Jersey, Dubai, Hong Kong SAR, Johannesburg, London, New York, and Singapore.
Jersey Financial Services Commission regulates Jersey's financial services sector. Jersey’s company registry is also housed within the JFSC.
The financial services industry is also represented by a number of trade associations and professional bodies.
Resources
Financial Services in Jersey: An Overview
Financial Services in Jersey: a snapshot
Reports and statistics about the role of financial services in Jersey
JFSC – The Regulator of Financial Services in Jersey
About us — Jersey Financial Services Commission (jerseyfsc.org)
The Contribution of Financial Services to Jersey's economy and employment
Statistics Jersey - Business activity and confidence
Industry Briefing 2023
Slides from the industry event of 21 November 2023, covering MONEYVAL, the update to the Money Laundering National Risk Assessment, and an update to the Consumer Credit Regime.
Presentation from 21 November
Guidance and notices made by the Minister regarding the financial services industry
gov.je