Deadline extension and request for confirmation of business continuity measures

With the recent announcements by the UK and Jersey Governments to enforce further measures in order to tackle the spread of the Covid-19 virus, all regulated businesses now face an imminent and indefinite period of remote working.

We absolutely understand the impact and stress that this will be placing on your organisation and your staff and their family, as we contend with these unprecedented times. Equally, we recognise the critical importance of our Government taking these steps to safeguard our community and the lives of islanders. We continue to closely liaise with the Government of Jersey on developments and will update our position accordingly as decisions are made.

We will continue to communicate updates via our website and would encourage you all to check on a regular basis.

We are currently considering upcoming deadlines and our onsite programme and will provide you with further updates on these matters imminently. If you have any concerns, please contact your supervisor.

Deadline extension for Supervisory Risk Data Collection Exercise

Acknowledging that you are currently prioritising your business continuity, we hope to alleviate some of the regulatory burden by extending the deadline for our Supervisory Risk Data Collection Exercise to 30 April 2020.

If you have any immediate concerns, please contact your supervisor.

Request for confirmation of business continuity measures

We previously asked you to keep your supervisor updated on your progress with your business continuity planning activities. In light of these latest developments, we are now seeking immediate confirmation from you that you have put in place sufficient measures to work remotely and remain operational, while continuing to meet your regulatory obligations.

We will be contacting all regulated firms directly today by email to provide further detail of what information we require from you and by when. In no way are we seeking to add to the pressures you are already facing, but we do need to know how you are approaching these substantial changes to your operations.

If you are experiencing any difficulties moving your organisation to remote working, or there has been a significant and negative impact on your business in trying to do so, please contact your supervisor as soon as possible so that we can work through this with you.