JFSC observations on Jersey’s evolving financial regulatory landscape and strategic direction.

At the recent Mourant Jersey Financial Regulation Forum, the JFSC  Director of Policy, Jamie Warnock, joined a panel of representatives from Mourant and the Government of Jersey to discuss Jersey’s evolving financial regulatory landscape and strategic direction. A key theme from the discussion was the need to focus on fewer, higher-impact priorities.

The event focused on

• The Government of Jersey’s Financial Services Competitiveness Programme.
• The collaborative work underway across industry, government, and the Jersey Financial Services Commission (JFSC) to strengthen Jersey’s position as a leading international finance centre.

JFSC  Director of Policy, Jamie Warnock

1. Outlined how the JFSC is aligning its future strategy with the outcomes of the government’s Competitiveness Programme:
   1. 1. As the JFSC looks ahead to its next strategic period through to 2030, the insights from the Competitiveness Programme are helping to shape its direction, define core aims, and prioritise the initiatives that will deliver the most significant impact.
2. Emphasised the JFSC’s ongoing commitment to supporting Jersey’s economic success, alongside its other core responsibilities of consumer protection, safeguarding the island’s reputation, and combating financial crime.
3. Acknowledged the complexity of balancing these priorities in a fast-evolving global environment.
4. Noted that the work has helped reinforce the collaborative approach between government, regulator and industry, and that this partnership is critical to delivering meaningful, long-term reform.
5. Highlighted several priority areas already embedded in the JFSC’s business plan for 2025, including:
   • • Schedule 2: 
       1. A comprehensive review of statutory guidelines is underway.
       2. With significant resources dedicated to supporting government-led risk assessments and operational improvements.
     • Registry review: 
       1. A strategic review, led by an independent third party, is progressing with strong engagement from industry.
       2. Early findings align well with the emerging Competitiveness Programme recommendations, including proposed reforms of:
          1. 1. The Control of Borrowing Order (COBO);
             2. Sound Business Practice Policy; and
             3. Beneficial Ownership reporting.

Jamie concluded with a message of openness.

1. While the JFSC is committed to playing its part in supporting the island’s growth and competitiveness, it acknowledged the need for open and transparent dialogue with stakeholders about resourcing and prioritisation.
2. Transparency with stakeholders will remain a cornerstone of the JFSC’s approach as it moves forward.

SOURCE

https://www.jerseyfsc.org/news-and-events/supporting-jersey-s-competitiveness-insights-from-the-mourant-financial-regulation-forum-2025/