Conflicts of interest thematic examination: questionnaire
Our cross-sector thematic examination on conflicts of interest will commence soon with the issuance of a questionnaire to a wide selection of entities. Our onsite examinations will follow in Q1 2025. Both the questionnaire and the onsite examinations will assess how entities identify, record and manage conflicts, such as:
- disclosure to the customer
- the application of internal rules relating to confidentiality
- declining to act where the risk is considered too high to proceed
Details of how and when to complete the questionnaire will be included in a covering email sent to all recipients. The questionnaire will provide us with an understanding of current practises for the management of conflicts of interest and an initial view of whether entities have implemented adequate and effective systems and controls, including policies and procedures relating to conflicts of interest.
We will use the data from the questionnaire to help inform our entity selection for the thematic examinations in Q1 2025. Entities will be notified in due course if selected for an onsite examination.
Conflicts of interest thematic examination: questionnaire
Next steps
On the completion of the thematic examination, we will publish a detailed feedback paper which will summarise current practices and give examples of good practice. This will determine if any further guidance surrounding conflicts of interest would be beneficial to Jersey’s finance industry.
Principle two of the Codes of Practice for each industry sector requires entities to implement adequate procedures to either avoid conflicts of interest or where conflicts arise, keep adequate records of such conflicts and address them appropriately.
Entities may wish to review and consider their own arrangements regarding conflicts of interest, to ensure they meet the requirements in the Codes of Practice.