Trust: Jersey: sourced answers
1 answer to specific questions — each with a verbatim quote from an official source and a link to it.
Every answer is checked against a verbatim quote from a stored copy of its source and has passed an independent review. This is reference information, not legal advice: rules change, and the outcome depends on your circumstances.
Trust: supplement to the legal-form questionnaire
Which authority licenses and supervises trustees
JFSC under the Financial Services (Jersey) Law 1998
«[5] ( 2 ) In this Law a note contained in a paragraph of a Schedule forms part of that paragraph. 2 “Financial service business” defined [6] ( 1 ) A person carries on financial service business if by way of business the person carries on investment business, trust company business, general insurance mediation business, money service business, fund services business or AIF services business. [7] ( 2 ) A person carries on investment business if the person – ( a ) deals in investments, that is, the person – ( i ) buys, sells, subscribes for or underwrites investments, either as principal or agent, or ( ii ) makes arrangements for another person (whether as principal or agent) to buy, sell, subscribe for or underwrite investments; ( b ) undertakes discretionary investment management, that is, the person decides as agent to buy, sell, subscribe for or underwrite investments on behalf of a principal; …»
Source: jerseylaw.je · source copy as of 2026-10-03
«5 Functions of the Commission The Commission shall have the powers conferred on it by this Law and the duty generally to supervise the persons registered by it in the exercise of those powers. 6 Limitation of liability ( 1 ) No person or body to whom this Article applies shall be liable in damages for anything done or omitted in the discharge or purported discharge of any functions under this Law or any enactment made, or purportedly made, under this Law unless it is shown that the act or omission was in bad faith. ( 1A ) Paragraph (1) does not apply so as to prevent an award of damages made in respect of an act on the ground that the act was unlawful as a result of Article 7(1) of the Human Rights (Jersey) Law 2000 . [26] ( 2 ) This Article applies to – ( a ) the States; ( b ) the Minister or any person who is, or is acting as, an officer, servant or agent in an administration of the States for which the Minister is assigned responsibility or who is performing any duty or exercising any power on behalf of the Minister; …»
Source: jerseylaw.je · source copy as of 2026-10-03
«ission” means the Jersey Financial Services Commission; “Law” means the Financial Services (Jersey) Law 1998 . ( 2 ) In this Order a note contained in a paragraph of the Schedule forms part of that paragraph. 2 Exempt persons A person specified in a paragraph of Part 1 or 2 of the Schedule is a prescribed person for the purposes of Article 7(2)(a)(ii) of the Law when carrying on the trust company business specified in that paragraph in the circumstances specified in that paragraph. 3 Variation of exemptions ( 1 ) In accordance with Article 4(1)(a)(i) of the Law, it is declared that an exemption conferred by Article 2 and specified in a paragraph of Part 1 of the Schedule is amended so that it is limited to Article 7 of the Law. ( 2 ) Articles 12, 23, 24, 25, 26, 28, 32, 33, 34, 35, 36, 37, 38, 39 and 41 of the Law shall continue to apply to a person exempted from registration by virtue of Article 2 and specified in a paragraph of Part 1 of the Schedule as if the person were a registered person. ( 3 ) A reference to registered persons in those Articles and the reference to persons registered by the Commission in Article 5 of the Law shall be construed accordingly. …»
Source: jerseylaw.je · source copy as of 2026-10-03
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