Notification of fund service business acting in respect of a non-domiciled collective investment fund (FSB/NDF)

Summary

This is the FSB/NDF notification form used by a Jersey Fund Services Business to notify the Jersey Financial Services Commission (JFSC) that it has accepted an appointment to act for a non-Jersey domiciled collective investment fund. It sets out the information the JFSC requires about the fund services business, the fund itself, and each sub-fund or cell, together with a signed declaration.

• Filing trigger: Must be filed within 28 days of accepting an appointment to act for the fund, or, where consent is required under the Control of Borrowing (Jersey) Order 1958, at least 5 working days before being appointed.
• Section A: Details of the Jersey Fund Services Business, including which functions/classes of service it will provide and whether Control of Borrowing consent or AIF/Expert Fund status applies.
• Section B: Details of the fund, including legal form, jurisdiction of domiciliation, regulatory status in its home jurisdiction, listing status, other Jersey fund service providers already notified, auditor details, and (where applicable) Statistics Officer and Alternate Statistics Officer details.
• Section C: Details of the fund product, completed separately for each fund or sub fund/cell, covering investor type, investment objective and policy code, minimum investment, base currency, and higher risk jurisdiction/Sound Business Policy considerations.
• Section D: Declaration, signed by two Principal Persons of the Jersey Fund Services Business, confirming the information is complete and correct.
• Ongoing duty: The Fund Services Business must immediately notify the JFSC of any other relevant information and of any significant changes to the notified information after submission.

Completed forms are sent to the JFSC's Central Authorisations team. The form is purely a notification mechanism rather than a licence application, but its declaration and ongoing notification duty create continuing obligations on the filer.

Key obligations

• File the FSB/NDF notification form within 28 days of accepting an appointment to act for a non-Jersey domiciled fund, or at least 5 working days before appointment if Control of Borrowing consent is required
• Complete Section C separately for each sub fund or cell of an umbrella fund, PCC or ICC
• Provide Statistics Officer and Alternate Statistics Officer details in Sections B.15 and B.16 if providing specified services (Manager, Administrator, Investment Manager, Investment Adviser, Trustee, Custodian, Depository or Member of a Partnership except Limited Partner)
• Have the notification signed by two Principal Persons of the Jersey Fund Services Business
• Immediately notify the JFSC of any other information relevant to the notification
• Immediately notify the JFSC of any significant changes to the information provided after the date of submission
• Where consent under the Control of Borrowing (Jersey) Order 1958 is required to circulate a prospectus in Jersey, submit a copy of the prospectus with the form

Applies to

Jersey Fund Services Business, non-Jersey domiciled collective investment funds, fund administrators, investment managers, investment advisers, trustees, custodians, depositories, registrars, distributors

Deadlines

• within 28 days of accepting an appointment to act for the Fund: Standard deadline for filing the FSB/NDF notification form
• at least 5 working days prior to being appointed: Deadline where consent is required under the Control of Borrowing (Jersey) Order 1958
• immediately: Deadline for notifying the JFSC of other relevant information or significant changes to previously notified information