Regulatory innovation remains a key area of focus for Jersey’s funds industry, with speakers at the Jersey Funds Association’s (JFA) latest Masterclass highlighting a number of initiatives that are in train to enhance the competitiveness and support the ongoing growth of the sector.

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Hosted by Tom Fothergill, Partner in Mourant’s Regulatory Practice, the JFA Regulatory & Compliance Masterclass 2026, held at the Royal Yacht Hotel this week (15 September), focused on some of the key trends in the fund structuring space.

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Visiting speaker Rob Mailer, Partner at Morgan Lewis, opened the session with a practical update on the UK closed-ended private funds market, with a particular focus on fundraising timelines, governance and liquidity. The session also featured an overview of UK AIFM reforms and the potential implications for Jersey funds, including practical considerations for managers, boards, administrators, compliance teams and other local service providers.

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In a session focusing on regulatory developments in Jersey, Julie Keir, Senior Policy Adviser at the Government of Jersey and Christopher Griffin, Partner at Carey Olsen, reflected on recent legislative and regulatory developments affecting Jersey's funds sector and provided some insights into some forthcoming initiatives, set against the backdrop of the Government of Jersey’s ‘Time to Win’ programme.

In particular, the analysis looked at the positive impact of enhancements to the Jersey Private Fund (JPF) regime last year, as well as proposed amendments to Jersey’s Limited Partnerships Law, changes to the Control of Borrowing Order (COBO), and potential future developments within Jersey’s anti-money laundering regime.

Jon Atkey-Smith, Partner, Wealth & Asset Management at EY Channel Islands also discussed the practical application of AIFMD II in the EU and its relevance to Jersey's funds industry, with speakers also highlighting Jersey’s response to developments in the UK AIFMD framework, including updates to Jersey’s AIF Codes.

Commenting on the event, Jeffrey Parongan, Chair of the JFA’s Education and Training sub-committee, said:

“Our latest Masterclass event provided a fantastic opportunity for participants from right across Jersey’s diverse funds industry to get an insight into the key drivers shaping our environment and discuss emerging regulatory developments impacting Jersey's funds industry. Despite greater complexity across the sector and persistent fundraising challenges, Jersey is on the front foot, drawing on momentum from Time to Win to stay competitive, innovate across its funds landscape and meet the evolving needs of managers and investors.”

Joel Hernandez, Chairman of the JFA, added:

“It’s vital that we continue to innovate as an industry, and the initiatives highlighted at this event evidence the efforts our industry, together with Government and the JFSC, are putting into enhancing our framework. The amendments to the JPF regime last year, for instance, have already had a tangible positive impact, with JPFs up almost 13% year on year at a time when fundraising is tough and timelines are becoming longer and longer.

“Flexibility and adaptability are very much the order of the day, there is clearly a huge amount of exciting change and innovation still to come over the coming months, all aimed at honing our product lines, achieving greater flexibility and making it easier to do business with Jersey.”

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