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Press Release - 19 June 2003

COMMISSION MARKS FIFTH YEAR

A series of events, held this summer by the Jersey Financial Services Commission, will mark the Fifth Anniversary since the Commission was formed, with independent status in 1998. The programme is designed to involve all those 'stakeholders' with whom the Commission is involved: the Jersey public, Jersey's finance industry and international regulators and investors.

The key initiatives are:

  • A keynote seminar entitled: "The Commission - Five Years On" where representatives of the Jersey finance industry will come together to examine the change in world regulatory trends in the last five years, to discuss the Commission's strategy for the future - and to debate the value and cost-effectiveness of anti-money laundering defences. Held at the Hotel de France in St Helier over two days (July 1 and 2), the seminar is expected to attract widespread interest within the Jersey financial community. Joseph Halligan, a senior official from the UK Treasury who is known to many professionals on the Island, will be speaking.
  • A report, to the people of Jersey, on the work of the Commission, explaining its aims and activities. Copies will be distributed widely and additional copies will be available from the Commission.
  • Proposals have been put to head teachers for a number of initiatives for school students aimed at bringing the work of the Commission to life; identifying best practice by financial institutions in developing their web sites and seeking out sham web sites issued elsewhere whose activities might be damaging Jersey's reputation.
  • A series of briefings to school-leavers about the career opportunities that the Commission offers.

JFSC Director General, Richard Pratt said: "The Commission has worked with the industry over the past five years to build an international reputation for the Island as a well regulated finance centre with good quality, innovative business. Notwithstanding the weakness in world markets at the present time - which is having an effect in the Island, there has been substantial growth in financial services over the period and we are better placed to reap the opportunities the future will bring. This, our fifth year is a good opportunity for us to report to the people of Jersey what we have done in their name - as well as keeping the Island's finance industry - informed of developments in regulation.

The seminar also provides a valuable opportunity to offer finance professionals practical advice on tackling issues in their daily work through an interactive format and discussion groups. We look forward to welcoming as many of the industry as possible; the event will have appeal for both Chief Executives and Senior Managers within any financial services organisation on the Island."

Places (£75.00 per delegate per day) are available on a first-come, first-served basis and application forms are available from the Financial Services Commission website at: www.jerseyfsc.org

For further information please contact:

Richard Pratt,
Director General
Jersey Financial Services Commission

Tel: +44(0) 1534 822011
Fax: +44(0) 1534 822001
E-mail: r.pratt@jerseyfsc.org

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