Senator Ian Gorst, Minister for External Relations with responsibility for financial services, said the framework was "created for a different time and a different economy". He said: "These proposals would replace its remaining requirements with a simpler, more modern framework, removing duplication while maintaining appropriate oversight where it is needed. "Alongside the prospectus changes already approved, this is part of our work to make it easier for businesses to operate in Jersey and internationally and to strengthen Jersey's position as a leading international finance centre." CEO of Jersey Finance Joe Moynihan said the changes were "another important step forward".
He said: "Jersey has a long track record of evolving its financial services proposition to meet the changing needs of international businesses, investors and advisers, while maintaining the high standards for which the island is known. "Removing outdated and duplicative requirements will help create a simpler and more consistent experience for those doing business in Jersey, while ensuring appropriate oversight remains in place." Follow BBC Jersey on X , external , Facebook , external and Instagram , external . Send your story ideas to channel.islands@bbc.co.uk , external .
Source: BBC
