The Jersey Financial Services Commission (the "Commission") has recently signed Memoranda of Understanding with Poland and Belgium. The Memoranda create formal frameworks for co-operation and information sharing to facilitate the enforcement of financial regulatory laws, commit the regulators to providing help within the limits of their laws and establish procedures to ensure that requests for information are dealt with efficiently. The Memoranda will help to protect investors and depositors as well as underlining the determination of the respective regulators to combat financial regulatory offences and to promote cross-border co-operation.
Details of Memoranda of Understanding entered into are available on the Commission's website.
In addition, Jersey's Chief Minister, Senator Terry Le Sueur, has signed a comprehensive Double Taxation Agreement ("DTA") with Malta. This is the Island's first DTA based on the OECD model convention and its sixteenth international tax agreement to meet the OECD tax standards on transparency and information exchange.
The Tax Information Exchange Agreement entered into between Jersey and the UK was formally ratified in November. Details are available on the States of Jersey's website.
Such arrangements highlight Jersey's continued commitment to ensuring high levels of transparency and international co-operation.