Maintaining and promoting Jersey’s status as a “leading” international financial centre, and maintaining “an attractive operating environment” for financial businesses, are among the key objectives identified in a policy framework document published today by the island’s Government.

The document “sets out the underlying principles for the government’s support of Jersey’s main industry, and outlines the policies that are deemed vital to its future,” the Government said, in a statement accompanying the 24-page briefing.

Jersey chief minister Ian Gorst was among a number of Jersey government officials who presented the document to Jersey Finance, the Jersey Financial Services Commission and industry representatives today.

The framework is described as having been based on four “key priorities” that were identified in a review last year of the financial services industry: Protecting existing businesses from competitive threats; enhancing those aspects of Jersey that investors value, such as the legal, regulatory and business environment; attracting “adjacent” business, from the products, markets and services that are closest to existing Jersey business; and exploring opportunities outside of the island’s current areas of expertise.

Jersey Finance chief executive Geoff Cook said that the policy framework outlined “a clear direction from government, commends the industry’s achievements to date, and highlights the potential for a bright future”, all of which, he noted, “are very welcome”.
To read and download the policy framework, click here. http://www.international-adviser.com/ia/media/Media/Jersey-Financial-Services-Policy-Framework-2014.pdf