JFSC director general John Harris

JERSEY has entered into an agreement to share information with four United States finance regulators.

The Statement of Co-operation means that Jersey can obtain confidential information about US financial services companies, including banks, which operate in the Island. In the same way, Jersey will pass on relevant information to the United States.

Although Jersey’s regulatory laws already make provisions for sharing information, the Statement of Co-operation sets out the procedures for doing so.

The agreement is between Jersey and the US Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision.

It formalises arrangements for continuing co-operation and information-sharing between the JFSC and its US counterparts.

JFSC director general John Harris signed the statement, which he said was the latest in a number of agreements between Jersey and other regulators worldwide.