News

JFSC has extraterritorial powers says Jersey Royal Court

24/07/2020

In a recent case heard by the Royal Court in Jersey (Guardian Global Capital (Suisse) SA v JFSC 29-Apr-2020), it was held that that on a proper construction, the JFSC had power under Article 32(2) of the Financial Services (Jersey) Law 1998 to compel a foreign entity to produce documents held in Jersey through one of its officers in Jersey in connection with an investigation as to whether the foreign entity was carrying on unauthorised trust company business in Jersey.

The court also found that legislation does not have extraterritorial effect unless that intention appears; rather it is a question of construction.

https://www.comsuregroup.com/news/guardian-global-capital-suisse-sa-v-jfsc-29-apr-2020-judicial-review-trust-company-business-in-or-from-within-jersey/