The Jersey Financial Services Commission (JFSC) and the Swiss Financial Market Supervisory Authority (FINMA) have signed a Memorandum of Understanding (MoU) to facilitate co-operation in the supervision of collective investment scheme asset managers based in Jersey who provide their services in Switzerland through a Swiss branch.
The MoU provides a framework for the JFSC and FINMA to exchange confidential regulatory information and co-operate with each other regarding the supervision and regulation of firms under their respective authority.
This MoU is the first cooperation agreement of its kind to be signed under Swiss legislation (Article 18 of the Swiss Federal Act on Collective Investment Schemes).
The JFSC now has MoUs (either on a bilateral or multilateral basis) with regulators in over 90 countries.