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Regulatory Framework
The Jersey Financial Services Commission ("JFSC") has been instrumental in passing the Financial Services (Jersey) Law 1998, under which all Company and Trust service providers are obliged to be registered. The Law came into effect at the end of November 2000 and all businesses had to register by 28 February 2001.
Licences have been issued in accordance with the Law to a substantial number of Trust and Company service providers, including Zenith Trust Company Limited and its subsidiaries. A list of registered institutions can be found on the website www.jerseyfsc.org. The Law provides for the supervision of financial service business, making particular reference to the people who control or manage the regulated business and are described as principal persons, codes of practice, rules about the management of client assets and granting the JFSC supervisory and regulatory powers.
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