ARTICLE · 03 APRIL 2008

The Future Regulation Of Funds And Functionaries Of Funds (Jersey)

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Since 2003, the Jersey Financial Services Commission (the "Commission") has been integrating existing regulatory laws into the Financial Services (Jersey) Law 1998 as amended (the "Financial Services Law") in order to provide a "one-stop shop" that will be easier to understand and simplify compliance.

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Since 2003, the Jersey Financial Services Commission (the "Commission") has been integrating existing regulatory laws into the Financial Services (Jersey) Law 1998 as amended (the "Financial Services Law") in order to provide a "one-stop shop" that will be easier to understand and simplify compliance. A position paper issued in April 2007 by the Commission, sets out how it plans to:

transfer authorisation and regulation of fund functionaries from the Collective Investment Funds (Jersey) Law 1998 as amended (the "CIF Law") to the Financial Services Law;

remove the requirement for a functionary to hold appropriate permits under the CIF Law in respect of each collective investment fund for which it carries out work; and

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