Notification of Intention to Rely on the QSMA Order (Form)

Summary

This is a notification form used by a person licensed under the Financial Services (Jersey) Law 1998 to tell the JFSC that it intends to rely on the exemption in the Financial Services (Investment Business (Qualifying Segregated Managed Accounts – Exemption)) (Jersey) Order 2014 (the QSMA Order). It is completed by an FSB-licensed person acting as Operator of a Qualifying Segregated Managed Account (QSMA).

• Purpose: Notifies the JFSC that the Notifying Party has been appointed Operator of a QSMA and intends to rely on the exemption under Article 3(1) of the QSMA Order.
• Content required: Full legal name and FSB reference of the Notifying Party, the relevant classes of FSB licence held (Manager, Trustee, Investment Manager, or Member of a Partnership except a Limited Partner), and signatures of Principal Persons with dates.
• Key condition: Under Article 3(5) of the QSMA Order, the notification is not treated as received by the JFSC until the JFSC confirms receipt in writing; reliance on the exemption should not be placed until that written confirmation is obtained.
• Ongoing duty: The JFSC requests that the Notifying Party inform it in writing if it permanently ceases to rely on the QSMA Order.

Key obligations

• The Notifying Party must not place reliance on the QSMA Order exemption until it has received written confirmation from the JFSC that its notification has been received.
• The Notifying Party should inform the JFSC in writing if it permanently ceases to rely on the QSMA Order.

Applies to

FSB-licensed persons, Managers, Trustees, Investment Managers, Members of a Partnership (except Limited Partners), Operators of Qualifying Segregated Managed Accounts (QSMAs)