Financial
Services (Amendment of Law) (No. 6)
(Jersey) Regulations 2023
Made 12th September 2023
Coming into
force in accordance with Regulation 5
1 Article 2 of the Financial
Services (Jersey) Law 1998 amended
Regulations 2 and 3 amend Article 2 (“financial service business” defined)
of the Financial Services (Jersey)
Law 1998.
2 “Arranging” inserted as
a financial service business
For paragraph (2)(a)
there is substituted –
“(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;”.
3 “Operating an
investment exchange” inserted as a financial service business
After paragraph (2)(c)
there is inserted –
“(d) operates an investment
exchange, that is, the person provides a facility (whether by electronic means
or otherwise) for the trading of investments, or the listing of investments for
trading, by members of the investment exchange.”.
4 Consequential
amendments
(1) In
Article 2 of the Financial Services (Investment Business
(Restricted Investment Business – Exemption)) (Jersey) Order 2001, after paragraph (1)(a),
there is inserted –
“(aa) making arrangements in
relation to a professional investor regulated scheme for another person
(whether as principal or agent) to buy, sell, subscribe for or underwrite
investments;”.
(2) In
Article 2 of the Financial Services (Investment Business
(Special Purpose Investment Business – Exemption)) (Jersey) Order 2001, after paragraph (1)(a),
there is inserted –
“(aa) making arrangements in
relation to a special purpose regulated scheme for another person (whether as
principal or agent) to buy, sell, subscribe for or underwrite investments;”.
5 Citation and
commencement
These Regulations may be
cited as the Financial Services (Amendment of Law) (No. 6) (Jersey)
Regulations 2023 and come into force on a day to be specified by the Minister
by Order.