New banking business legislation delayed following Industry feedback
We were proposing to introduce new legislation – the Banking Business (Accounts, Auditors and Reports) (Jersey) Order (New Order) - which would provide a legal foundation for this reporting. This approach is used by other financial services sectors in Jersey.
We are grateful to Industry for providing us with feedback. We have listened and are consequently delaying the introduction of these requirements until 2022, to give businesses more time to prepare.
We will shortly be publishing a summary of the feedback we received as well as more details on the next steps and timelines.