Jersey consults on proposed fee increases for trust company businesses

Posted: 20/11/2023

The Jersey Financial Services Commission is proposing to increase trust company business fees by 10.1% from 1 January 2024 in line with the latest published increase in the Jersey retail prices index (RPI) of 10.1%, as of September 2023.

The proposed amendments to fees will affect any person applying for, or having already been granted, a registration to undertake trust company business under the Financial Services (Jersey) Law 1998, as amended.

It was originally envisaged that the fee increases would be applied at 2% over RPI, but through cost management and the positive impact of operational efficiencies, the Commission is able to limit this to the stated RPI figure.

A consultation on the proposed increases has been released – responses are requested by 15 December.

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