Bringing you live news and features since 2006 

Jersey Trusts Law amendments continue to develop island’s private wealth offering


Updates to Jersey’s Trusts Law, which include welcome clarity surrounding the disclosure of information to beneficiaries, will help to ensure the island remains one of the world’s leading international private wealth centres, according to leading Jersey trusts lawyer Siobhan Riley.

Rather than making any fundamental changes to the Trusts (Jersey) Law 1984, Riley, who is the head of Carey Olsen’s Jersey trusts and private wealth group, says the five key provisions of ‘Amendment No 7’ simply refine and enhance the existing legislation, in particular, the reworking of Article 29 relating to the disclosure of information to beneficiaries.
“While it has been on the cards for some time, the re-write of Article 29, makes it absolutely clear that the terms of a trust can restrict a beneficiary’s right to information, subject to any order of the court,” says Riley. “It expressly provides that a trustee may refuse disclosure where it is satisfied that such disclosure would not be for the benefit of one or more of the beneficiaries. We anticipate this amendment will be welcomed by settlors and trustees alike because it brings certainty and limits the need for a trustee to apply to court where it has determined to withhold trust information from a beneficiary.”
The other key provisions contained in Amendment No7 relate to the reservation or grant of powers by a settlor, a trustee’s right to reasonable security and indemnity, the accumulation of income and the statutory power of advancement, and the court’s power to vary trusts. These provisions, in addition to the re-write of Article 29, are considered in more detail in Carey Olsen’s own Trusts (Amendment No7) (Jersey) Law 2018 briefing note.
Riley adds: “Jersey’s Trusts Law is highly regarded across the globe and has been followed by many other jurisdictions worldwide. As part of the continuing work to ensure that the legislative framework continues to support the needs of the industry, Amendment No. 7 clarifies and further develops certain provisions, reaffirming Jersey as a jurisdiction of choice for international private wealth clients.”

Latest News

Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..
First Trust has announced the launch of the First Trust Vest U.S. Equity Moderate Buffer UCITS ETF – February GFEB..
Trading activity on the Tradeweb Markets institutional European- and US-listed ETF platforms reveals that the Tradeweb European ETF marketplace reached..

Related Articles

Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Thomas Bonville, Clear Street
Just over a year ago, Thomas Bonville joined New York-based, prime brokerage Clear Street as managing director, head of derivative...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by