JFSC service level agreements – how well are they performing? They could do better

Service excellence is a key feature of the JFSC  2025 business plan. As part of this, the JFSC have committed to publishing the JFSC performance against service level agreements each quarter.

The service level agreements are therefore focussed on facilitating speed to market and user experience.

On 25 April 2025, the JFSC published its first service report for Q1 2025 – the report’s conclusions are:

• The data shows that the JFSC clearly still have work to do to improve service levels in certain areas.

The JFSC next industry survey launches soon. More information will be shared shortly on the JFSC website.

The JFSC says:-

• While progress has been made in certain areas, the data shows that the JFSC clearly still have work to do.
• The JFSC will continue to provide details of service improvements through industry updates and engagement.
• The JFSC will continue to provide details of service improvements through industry updates and engagement, including through industry bodies.
• The JFSC encourage you to have your say so the JFSC can continue to prioritise changes and improvements that matter most to the JFSC stakeholders.

The JFSC new quarterly service report objectives include:-

• Shares how the JFSC are performing in important industry areas, including user experience, and facilitating speed to market.
• Is part of the JFSC service excellence focus, driving improvements and increasing transparency with the JFSC stakeholders.
• Provides an update on service improvements to the JFSC fees process.
• This report provides transparency around those areas of the JFSC service that are most relevant to industry and support the competitiveness and growth of Jersey as an international finance centre.

The JFSC will report on core regulatory and registry services in each report, along with any topical service matters, including:-

• Personal questionnaires
• Jersey private fund applications
• Anti-money laundering service provider forms
• Incorporations and registrations of new companies
• Registration of new business names
• Post-incorporation submissions

Service improvement in focus: UPDATED FEES PROCESS + AMLSP forms

• In 2024 the JFSC aligned its fee cycle with the annual calendar to support industry with budgeting and client billing cycles, and to help simplify its financial forecasting.
• The JFSC now issue all fee invoices on the same date, with 1,958 fee invoices issued in January 2025.
• To support customer service, the JFSC introduced a dedicated inbox for regulatory fee queries, alongside its existing myJFSC portal support.
• In Q1 2025, the JFSC received 2,028 queries, with 70% fully resolved within 2 working days.
• The JFSC continue to focus on servicing and accuracy, with the aim of reducing queries and the re-issuance of invoices.
• To support this, in Q4 2024 the JFSC introduced four anti-money laundering service provider (AMSLP) forms to myJFSC and are shortly due to release a further change of AMLSP form.

JFSC SERVICE REPORT Q1 2025 - THE NUMBERS

Read the JFSC Q1 2025 service report here: Q1 2025 service report

• https://www.jerseyfsc.org/media/8213/jfsc-service-report-q1-2025.pdf