On 1 March 2017, the JFSC introduced a new Outsourcing Policy, applicable to registered persons in Jersey, such as trust companies, investment managers and fund services businesses.
Andrew Pinel, Partner
The new Outsourcing Policy made important changes and registered persons in Jersey will need to follow the new Outsourcing Policy for new arrangements from 1 June 2017.
All existing outsourcing arrangements will need to be updated and Pinel Advocates can provide advice and assist with this work. To arrange a call or meeting, please contact Andrew Pinel or Oliver Hughes.
Registered persons will remain responsible and accountable to the JFSC and must:-
Have a written outsourcing agreement
Make a business risk assessment
Undertake due diligence on the service provider
Consider conflicts of interests and jurisdictional risks
Have appropriate termination provisions and contingency plans
Complete the JFSC Outsourcing Notification Form
For more information please click here.