Jersey Wins Best Financial Center Award
by Jason Gorringe, Lowtax.net, London
23 June, 2014
Jersey has been named 'Best International Financial Center' at the fifteenth annual Professional Adviser International Fund and Product Awards 2014.
The Awards are organized by media group Incisive Media, and are designed to reward and recognize international financial centers (IFC) providing cutting edge financial products and services. Judges took into account a number of factors, including the territory's commitment to its target market, the appropriateness of its product range and services, its transparency, and high levels of service and support.
Deborah Benn, chair of the judging panel, said: "Jersey uses a combination of expertise and speed to come up with effective solutions, particularly in the alternative investment sector. Judges were also impressed with Jersey's [equivalent initiative to the UK's] Retail Distribution Review (RDR), which shows a strong sense of which direction the wind is blowing in terms of professional standards. Overall, this year marks Jersey out as having an excellent competitive edge."
Geoff Cook, CEO of Jersey Finance, said: "Over the past 12 months it has been crucial for IFCs to respond quickly and appropriately to the market, and winning this award is further evidence that Jersey has done that successfully. We are always looking to highlight the quality and range of fund services Jersey has to offer and its commitment to pursuing high standards of regulation and co-operation, particularly in this new era of Alternative Investment Fund Managers Directive (AIFMD) compliance, so it is encouraging when Jersey's strengths are acknowledged in this way."
Jersey was also named 'IFC of the Year' in both the Wealthbriefing Europe Awards and the Citywealth IFC Awards earlier this year.
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