Following a consultation in May on proposed fee rates for the funds sector, the Jersey Financial Services Commission has announced the following increases from 1 July:
• 12.5% increase to fee rates for Fund Services Businesses (FSB), Alternative Investment Funds (AIF), Collective Investment Funds (CIF), CoBO and Qualifying Segregated Managed Accounts (QSMA)
• A 2.7% increase to the Jersey Private Fund annual fee
The Commission has acknowledged concerns about an additional 1.5% increase in respect of funds-specific policy development, and has decided not to introduce this additional levy at this time.
For more information, view the full consultation feedback paper here