Following the introduction in 2017 of the highly successful Jersey Private Fund (JPF) regime that provides fund promoters with a cost-effective, fast-tracked (48 hours) regulatory approval process for their private fund, that can be offered to up to 50 investors, further enhancements were introduced in July 2024 as part of Jersey’s constant and continuous effort to evolve its offering as a leading international finance centre.

Jersey based independent law firm Lexstone Lawyers acted for lending specialist Hawk Group in connection with its acquisition of local business Albion Lending.

The Lexstone team, led by senior consultant Howard O’Toole, acted closely with Hawk Group advising on all aspects of the acquisition. Howard said “We were delighted to assist Rob Morton and his team with such an important acquisition in what represents a key moment in the Group’s growth”.

BACKGROUND
The Proceeds of Crime (Jersey) Law 1999 (the “Proceeds of Crime Law”) sets out Jersey’s principal legislative requirements for the prevention and detection of money laundering, the countering of terrorist financing and the countering of proliferation financing (“AML/CFT/CPF”).