For the third consecutive year, Jersey has been named ‘Best International Finance Centre’ at the 13th International Fund and Product Awards 2012, organised by media group Incisive Media.
The judging panel, consisting of independent industry practitioners and experts, took into consideration a number of criteria, including jurisdictions’ responses to the evolving regulatory environment and evidence of innovation and flexibility in developing complex international financial solutions. There were over 50 entries to this year’s awards from a wide range of companies in the offshore sector.
Commenting on this year’s awards, Deborah Benn of Incisive Media, chair of the judging panel said:
“There is little doubt that the past 12 months has possibly been the toughest year yet for the offshore industry. Not only has the ongoing backdrop of difficult economic conditions taken its toll, but higher than normal regulatory pressures have been evident this year. Yet despite this, entries have displayed a refreshing determination to keep up high standards of services which has impressed the judges. In particular, this year’s winners and highly commended entries have really shone.”
The judging panel added:
“Jersey’s entry highlights the effectiveness of a close working partnership with regulators and practitioners alike in terms of ensuring that initiatives introduced have the best chance of success. In particular, the judges felt that Jersey conducts business in an open and transparent manner in line with its reputation as a leading offshore jurisdiction. The introduction of structures and enabling legislation is particularly well thought through and on trend in terms of market relevance. Judges applauded Jersey’s efforts to grow its appeal in a wide range of markets, including permanent representation, which shows a clear commitment to raising awareness of what it has to offer.”
Geoff Cook, chief executive of Jersey Finance, commented:
“Jersey further consolidated its growing reputation as a leading international finance centre during 2011 and this award recognises its finance industry’s continued efforts to offer sophisticated and innovative funds and investment solutions in an increasingly competitive marketplace.
“Jersey remains committed to evolving its laws and regulations to meet international investor demand and satisfy the raft of regulation being introduced over the coming years, and will continue its proactive approach in ensuring it maintains its position at the forefront of international financial services. Jersey Finance is delighted to accept this award on behalf of the finance industry.”