The Jersey Financial Services Commission is asking for feedback from the banking sector on its proposals to increase fees by 16.5% for 2021/22.
When the JFSC published feedback last year from its 2020 banking fee consultation, it highlighted the likelihood of a fee increase but deferred it to this year at the sector’s request.
The increase has been set to meet the Commission's funding requirements for the year, which remain broadly level with its 2020/21 target.
It also factors in the additional supervisory effort required to supervise the sector.
Fees for the Jersey Resolution Authority are not included in this consultation. The JFSC will also be engaging directly with the Jersey Bankers Association on the proposals during the consultation period.
The deadline to provide feedback is 26 November. The fees notice will be published by 30 November.
• To view the consultation on banking fees click here