PRESS RELEASE 7 November 2012
FINANCIAL SERVICES REGULATOR PUBLISHES RESULTS OF LATEST INDUSTRY SURVEY
The Jersey Financial Services Commission has published the results of its latest Industry survey that aims to discover how its work can be improved and clarified.
The survey was conducted in March of this year and respondents were asked to comment on a number of key issues. A similar survey was carried out in November 2009 and the results of both studies have been analysed by the Commission to identify recurring themes that need to be addressed.
The latest survey included a larger target sample and produced a response rate of more than 25%, similar to the 2009 study. The results indicate that the majority of respondents rate the Commission as excellent or good at effectively fulfilling its various roles and there was general recognition that the Island needs an effective regulator in order to maintain Jersey’s international reputation.
A number of issues that arose from the 2009 survey have been effectively addressed and the Commission accepts that some recurring themes require attention, and has given its commitment to the Industry to review these issues and report back.
John Harris, Director General of the Jersey Financial Services Commission said: ‘There will inevitably be some friction between the regulator and the regulated but that does not mean we should ignore the issues raised. On the contrary, we are very keen to have an open and frank dialogue with industry to ensure that the service we provide to both the Island as a whole, and to the Industry in particular, is robust yet flexible, fit for purpose and internationally reputable. We will continue to listen to the Industry and to seek feedback so that, where it is appropriate to do so, we can review our policies and achieve improvements in our procedures.’
An executive summary of the key findings of the survey and the full survey are available on the Jersey Financial Services Commission website www.jerseyfsc.org
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For further information please contact: -
John Harris - Director General
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822011
Fax: + 44 (0) 1534 822002