Jersey's compliance with international financial regulation and supervision rules has pushed it ahead of the UK, according to an International Monetary Fund (IMF) report.
The Financial System Stability Assessment Update (FSSA) report places Jersey in the top division of international finance centres, with the state meeting 44 of its 49 recommendations compared to the UK's 36. It also acknowledges Jersey's laws have been amended to enhance compliance with international standards and confirms the jurisdiction's banking system is resilient to a range of shocks. Furthermore, the report says Jersey Financial Services Commission (JFSC) conducts its functions in "a transparent and accountable manner," with "robust" anti-money laundering rules. The report ...
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