JFSC consultation on changes to fund fee rates
On 22 May 2020, the JFSC issued a consultation paper which sets out proposals for fund fee rate changes.
Although the period to provide comments closed on 22 June 2020, the industry should be aware that the JFSC is proposing to increase FSB, AIF and CIF, CoBO and QSMA fees by 12.5% (with 2.7% being the most recent Jersey RPI). The main driver of this above-inflation increase is the JFSC's aim to enhance its supervisory and compliance function significantly and to provide some additional capital for investment in technology.
Further detail is in the consultation paper and the feedback paper, which can be found here: Fund fee rates from 1 July = https://www.jerseyfsc.org/news-and-events/fund-fee-rates-from-1-july/