PRESS RELEASE 19 February 2010

BANKING: FINANCIAL REPORTING AND DISCLOSURES

The Commission has published today a consultation paper on the regulatory requirements for Jersey registered deposit takers in respect of the provision of financial information and public disclosures. The aims are to:

• bring together existing requirements regarding the provision of financial information to the Commission;

• increase the availability of financial information on banks to the public, including via their websites; and

• require that disclosures regarding relevant depositor compensation schemes are made in banks’ advertisements.

The consultation period will run until 19 May 2010 and feedback is welcomed from all interested parties.

A copy of the consultation paper can be downloaded from the Commission’s Website at www.jerseyfsc.org and paper copies obtained from the Commission’s reception area of the Jersey Library.

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For further information please contact: -

David Fisher - Senior Analyst, Banking
Tel: + 44 (0) 1534 822106
Fax: + 44 (0) 1534 822002
Email: d.fisher@jerseyfsc.org