New online application tool welcomed by fund practitioners

The Jersey Financial Services Commission (JFSC) has launched a ground-breaking online application tool for Jersey Private Funds (JPF).

The tool, which handles applications for new licences, will speed up application turnaround times and improve efficiency.

Jill Britton, the JFSC’s Director of Supervision, said: “The JPF online application is really exciting and hugely important for the island, as it lays the foundation blocks for enabling our future online capabilities, as a regulator, and is the first step in providing end-to-end authorisations for new licenses across all sectors that we supervise.”
Jersey Private Funds were introduced in March 2017 to provide institutional and professional investors with a more streamlined, fast-track regime. You can read more about JPFs in our factsheet.

Nicholas Solt, managing director of Moore Stephens Fund Services, said: “The potential for instant approval is hugely significant in the context of the fund industry. With this innovation the JFSC is giving Jersey a real advantage, it is digital first, paperless and autonomous. For fund practitioners, the ability of a suitable applicant to get instant approval will shorten the timescale needed to establish a fund even further and be a compelling argument when asking clients to choose Jersey as their fund’s domicile.”