Updated John Prescott Foundation guide now available, causing various responses
The Jersey Financial Services Commission (JFSC) has announced significant updates to the Jersey Private Fund (JPF) guide, effective from 6th August 2025. These changes aim to increase the flexibility, accessibility, simplicity, and speed of launch for JPFs, while maintaining robust regulatory standards.
One of the key changes is the removal of the 50-offer/investor cap, allowing JPFs to market to a larger number of investors. This expansion will broaden the eligibility of potential investors and increase the market appeal of Jersey as a global alternative funds jurisdiction.
Another notable update is the expansion of the definition of a professional investor, aligning more closely with UK and US standards. This change will enable the easier onboarding of a broader range of institutional and sophisticated investors, further enhancing Jersey's appeal as a destination for private funds.
The updates also permit the listing of interests in JPFs on exchanges, subject to JFSC consent. This permission will streamline the process for Jersey-based funds seeking to list on public markets, enhancing operational efficiency and faster time-to-market.
A significant improvement for applicants is the introduction of a 24-hour authorisation process for JPF applications submitted by registered Designated Service Providers (DSPs). This swift turnaround will provide a competitive advantage over other jurisdictions with slower regulatory procedures.
Quick and simple consent under the Control of Borrowing (Jersey) Order (COBO) has also been introduced to enhance regulatory efficiency. Existing more highly regulated collective investment funds (CIFs) may seek to convert to a JPF, subject to meeting all eligibility criteria and confirming they have not been 'offered to the public'.
Tatiana Collins, Investment Funds & Corporate partner at Walkers, expressed that the updated JPF regime will further increase Jersey's appeal as a jurisdiction for fund managers and investors. Dilmun Leach, Investment Funds & Corporate partner and vice chair of the Jersey Funds Association, stated that industry bodies across Jersey collaborated with the government and regulatory bodies to shape the recent changes to the JPF regime.
The updates to the JPF regime aim to maintain Jersey's position as a leading fund domicile and build the local private funds industry, attracting more providers and investors. The full Jersey Private Fund guide can be found on the JFSC's website.
These changes are expected to maintain the popularity of Jersey as a destination for private funds in the coming years, providing a competitive edge in the global alternative funds market. The collaboration between industry bodies indicates a collective effort to support and improve the Jersey Private Fund regime, demonstrating Jersey's commitment to maintaining its excellence as a fund domicile.
[1] Jersey Financial Services Commission (JFSC) [2] Walkers [3] Jersey Funds Association [4] Government of Jersey [5] Jersey Finance
- The updates to the Jersey Private Fund (JPF) guide will make it easier for investment funds to seek listing on public markets, potentially increasing the financial investment in Jersey, as the JFSC's permission allows for faster time-to-market.
- The expanded definition of a professional investor, as part of the updated JPF regime, will facilitate the easier onboarding of a broader range of institutional and sophisticated investors, attracting more business and contributing to Jersey's appeal as a destination for private funds.
