The Jersey Financial Services Commission (JFSC) is asking for feedback funds businesses on a proposed 11% increase to the sector’s fee rates.
The JFSC says that the proposed increase is due to:
- Headline fee rates being subject to an increase of 5% above Retail Prices Index (RPI) to compensate for changes they are seeing in the funds sector, specifically a reduction in the number of asset pools and a small reduction in the number of Funds Service Businesses.
- The Commission Law contemplates increases to fees in line with RPI, which was recorded as 6% in March 2022. However, the cost of regulation continues to rise well in excess of this metric.
The deadline for feedback is Friday 24th June 2022. You can send your comments directly to the JFSC (fscaccountsteam@jerseyfsc.org) or Jersey Finance.
Following this consultation, the JFSC will publish feedback and the final fees notices in June.
