PRESS RELEASE 21 July 2006

New Director of Securities at the Commission

The Jersey Financial Services Commission is pleased to announce the appointment of David Banks as Director of Securities with effect from 18 September 2006.

The Securities Division of the Commission includes responsibility for collective investment funds and investment business, and represents a rapidly growing part of the Commission’s activities.

David has spent the last six months at the Commission working as a consultant on funds-related issues. David is an English solicitor and Jersey Advocate with over 20 years experience of advising financial institutions on all aspects of commercial law and practice, in particular concerning funds, trusts, and banking.

David Carse, Director General of the Jersey Financial Services Commission, said:

“We are delighted that David has decided to join us as Director of Securities. He brings to the Commission a wide range of finance industry and legal experience. His previous work with the Commission as a consultant means that he is already well acquainted with current issues related to the funds sector and is well placed to take forward this vital area of the Commission’s work.”

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For further information, please contact:

David Carse
Director, General
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822011
Fax: + 44 (0) 1534 822001
Email: l.johns@jerseyfsc.org