Civil financial penalties regime – consultation and interim approach

Following the Minister’s announcement at the Government Financial Services event on 24 November, the JFSC acknowledges the Minister’s intention to consult on potential changes to the civil financial penalties regime, under the Financial Services Commission (Jersey) Law 1998.

To ensure fairness for parties currently undergoing a sanction process where civil financial penalties are being considered, we will pause progressing these cases until there is clarity on any proposed changes.

We will also consult on updates to our published methodology, reflecting our experience of applying the current approach over the past three years.

Further details on the consultation process will be shared once the Minister’s proposals are published.