Following consultations in November on fee rates for trust company businesses and registered persons, the Jersey Financial Services Commission has announced changes to fees in these areas.
Trust company business fees
• Increase in the fees cap to £90,000 or 95% of the fee that would otherwise be payable
• A move to a five-year rolling average for:
TCB employee numbers
licences held
• Introducing an amendment fee
• Introducing a change of control fee.
Relevant firms will receive notification via myJFSC that an invoice is ready for them or that they need to provide data for their fees to be calculated. The due date for payment of annual fees is 28 February.
To view the TCB fee notice click here
Specified Schedule 2 Business fees
On fees for designated non-financial businesses and professions, the changes include:
• An increase in the fees cap to £30,000
• A move to a five-year rolling average for employee numbers
• Introducing an amendment fee
• Introducing a change of control fee.
Relevant firms will receive notification via myJFSC that an invoice is ready for them or that they need to provide data for their fees to be calculated. The due date for payment of annual fees is 31 March (total fees of over £1,000 may be paid in instalments).
To view the registered persons fee notice click here