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Jersey Hikes Supervision Fees

by Jason Gorringe, Lowtax.net, London
03 January, 2017

Jersey's financial services regulator, the Jersey Financial Services Commission, is consulting on proposed fee increases for persons under its supervision.

A fee increase of 13.6 percent, commencing January 1, 2017, is proposed to fund the Commission's anti-money laundering and countering the financing of terrorism work. For a sole trader, this increases the annual fee to GBP227 (USD280) and the maximum fee payable by any registered person increases to GBP11,360 (USD14,017).

The Commission is also proposing to raise the fee for persons conducting money service businesses on the island by 15 percent, which takes the standard annual fee to GBP2,300 (USD2,838).

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