Flagstone International has announced it has been formally approved as a standalone Trust Company Business by the Jersey Financial Services Commission.
Based in Jersey since its incorporation in 2021, the company had previously been operating under the Managed Trust Company Business regime, with managed trust company oversight provided by CSC, formally known as Intertrust.
However, as part of its evolution and expansion plans, Flagstone International has been working towards becoming a standalone fully regulated entity under the supervision of the Jersey Financial Services Commission (JFSC).
This approval from the JFSC recognises Flagstone International as an independent trust company able to provide services under Jersey’s regulatory framework.
The leading international cash deposit platform provides its clients with access to a broad range of multi-currency cash deposit products offered by multiple banking partners across several global jurisdictions. It also provides efficient foreign exchange services, all via one single easy to use client account.
Mia Canavan (pictured), Head of Compliance, at Flagstone International commented: “This announcement represents an important milestone in the development of Flagstone International. It has been an aim we have been working towards for a while and provides us with a regulatory status that will further support our ambitious expansion plans in Jersey and beyond.
“Flagstone International is a global business that was born in Jersey. We made the decision to base ourselves here precisely because of Jersey’s international reputation for low levels of financial crime and the high regulatory standards in place.
“Not only does Jersey’s supervisory standards help us to ensure our international business is engaged in best possible practices from a regulatory point of view; but, it should also provide even more confidence and assurance to our clients, introducers and partner banks that we continue to be fully committed to best practice at every level of our organisation.”
