Jersey Finance, the representative body for the local financial services industry, says recent investments point to continued confidence in the sector’s ability to grow.
A withholding tax is set to be removed on business between Jersey and France, after the island was removed from a list of those considered uncooperative by French financial authorities.
Jersey-based Fidusys Online, which offers an online fiduciary management solution, has struck a deal with ACPI to use its system for investment management, the first time it has been used this way outside its core trust management market.
The European Securities and Markets Authority (ESMA) has approved a Memorandum of Understanding with Jersey, which means it can continue to deliver alternative investment funds into the EU after the AIFMD comes into effect in July.
Jersey has agreed tax measures with the UK in the same style of those earlier agreed with Guernsey and the Isle of Man, describing them as a ‘UK Fatca’.
Jersey remains on track to meet the requirements of the EU Alternative Investment Fund Managers Directive and will introduce new fund regulations in April, a conference in London has heard.
Following investor demands, the Petrus Advisers Special Situations Fund has moved its domicile from Jersey to the Cayman Islands, allowing institutional investors to invest and create an internationally comparable investment product.
Although sentiment indicators point to optimism, the pending Italian elections and political turbulence in Spain are reminders of the ongoing battle to drag Europe out of crisis, says Tristan Hanson, head of Asset Allocation at Jersey-based Ashburton.
The UK ministry responsible for fiscal matters – HM Treasury – has used ongoing discussions around Fatca to request more access to financial information from its Crown Dependencies and Overseas Territories.
UK based Brooks Macdonald has acquired discretionary fund manager Spearpoint, manager of the Arch cru funds, in a deal that could reach £32m.
Neil McCluskey has been appointed head of Barclays’ Corporate, Business Banking, Premier Banking and Retail in Jersey.
RBC Wealth Management has appointed Adam Norris as senior manager Intermediary Business Development to lead the company’s push deeper into the Channel Islands.