PRESS RELEASE 5 JUNE 2014
CONSULTATION ON CIVIL PENALTIES LEGISLATION
Today, the Jersey Financial Services Commission (the “Commission”) has issued a Consultation Paper on draft primary legislation to provide it with the power to impose civil financial penalties on regulated businesses that contravene regulatory requirements set by Commission Codes of Practice.
The Consultation Paper, including the draft amending legislation, can be viewed on the Commission’s website by clicking here. Hard copies of the Consultation Paper are available upon request.
Responses to the consultation are requested by Monday 11 August 2014.
- Ends -
For further information please contact: -
|Barry Faudemer - Director, Enforcement
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822137
Fax: + 44 (0) 1534 822002
Notes to Editors
The Commission is responsible for the regulation, supervision and development of the financial services industry in Jersey for deposit-taking, collective investment funds, fund services business, insurance business, general insurance mediation business, investment business, money service business, and trust company business. It is also responsible for overseeing compliance with legislation to counter money laundering and the financing of terrorism.