Jersey builds on regulatory strength to stay globally competitive

Faced with tightening international regulation, rising ESG expectations and rapid advances in digital !nance, Jersey is leaning into its long-standing strengths: high-quality regulation, political and economic stability, and an adaptive approach to innovation. In this interview, the Chief Executive of Jersey Finance, Joe Moynihan, outlines how the island is building on its reputation for reliability and foresight, from leading in anti-money laundering compliance and ESG strategy to supporting tokenised assets and developing the next generation of !nancial professionals

How is Jersey positioning itself to remain competitive as a leading international finance centre amid evolving global regulatory pressures and tax transparency initiatives?

Jersey has long built a reputation based on high regulatory standards while remaining a competitive, forward-thinking jurisdiction. More than 25 years ago, Jersey made a strategic decision to prioritise quality, which meant introducing higher standards. This has proved to be the right long-term approach, especially in today’s climate of increasing global regulatory and tax transparency requirements where many other IFCs are now having to meet expectations from reputation-conscious clients and international bodies. For instance, our latest MONEYVAL assessment found Jersey to be among the strongest globally in terms of anti-money laundering, giving real comfort to international investors and businesses. Consequently, we are seeing consistent growth in both private and institutional capital in the island, attracted by the regulatory strength, political and economic stability, and certainty we offer. A focus on high standards will continue to be a cornerstone of what we offer as an international finance centre (IFC) of merit.

What role does Jersey see itself playing in the future of sustainable finance, and how is the jurisdiction supporting ESG-aligned investment strategies?

Sustainable finance is becoming increasingly important and, as a forward-thinking IFC, we see it as vital to embed such principles within our proposition. A few years ago, we set out to define a clear vision for supporting sustainable finance. This has included equipping Jersey-based firms with the knowledge and resources they need to advise clients on ESG, and to support investment strategies aligned with sustainable ideals. Earlier this year, we held our first-ever sustainable finance summit to share and champion ESG progress, while continuing to work closely with the Government of Jersey on its sustainable finance action plan, published towards the end of last year. This is a pathway that ensures Jersey not only keeps pace with international developments in sustainability but leads the way in supporting responsible finance aligned with the UN’s Sustainable Development Goals (SDGs).

With the rapid advancement of financial technology, how is Jersey adapting its infrastructure and regulatory framework to support innovation while maintaining robust oversight?

Jersey has a long history of adapting to meet evolving industry needs, and the rapid advancement of financial technology is no different. More than a decade ago, the island was home to the first-ever Bitcoin hedge fund, and we’ve continued to refine and enhance our regulatory environment for digital assets ever since. We work closely across industry, government and regulator to ensure our framework remains dynamic but proportionate, especially in areas such as tokenisation, where Jersey offers a compelling blend of regulatory certainty, tax neutrality and jurisdictional stability. This makes it an ideal home for tokenised real-world assets (RWAs). Our regulator, the JFSC, has a clear process for considering applications involving token-generating events, and Jersey is very much open for business.

Talent retention and development are key in financial services. What initiatives are in place to attract and nurture the next generation of finance professionals in Jersey?

Jersey’s skilled financial services workforce of more than 14,000 professionals has long been attractive to businesses and investors seeking expert support for their ambitions. We are not complacent, however, and understand that maintaining and developing this depth and breadth of talent is imperative, especially in response to evolving technological and cross-border demands. We have a number of measures in place to ensure our workforce is fit for the future. These include, most recently, becoming a partner member of the UK Financial Services Skills Commission, helping to shape strategies, promote continuous learning and uphold our reputation for expert financial and related-professional services.

Further Information

This article was produced with support from Jersey Finance. For more information on Jersey’s financial services industry, visit www.jerseyfinance.com.
Interview: John E. Kaye