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PRESS RELEASE 16 August 2006

Consultation on Revised Codes of Practice for Trust Company Business

The Commission has today commenced a public consultation exercise on proposed changes to the Codes of Practice for registered trust company business service providers in the Island.

Codes of Practice set out the fundamental principles and requirements by which registered trust companies must organise and conduct their business.

The revision will update Codes of Practice first introduced by the Commission in November 2000 and takes account of recommendations made by the International Monetary Fund during their last assessment of Jersey’s regulatory regime as well as findings from the Commission’s ongoing supervision of the trust company business sector.

The Consultation Paper can be viewed on the Commission’s website www.jerseyfsc.org and paper copies obtained from the Commission’s reception area or the Jersey Library.

The Commission would welcome input from interested parties. Responses should be submitted by 15 November 2006.

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For further information, please contact:

Darren Boschat,
Senior Manager – Trust Company Business

Jersey Financial Services Commission

Tel: + 44 (0) 1534 822060
Fax: 44 (0) 1534 822002
Email: d.boschat@jerseyfsc.org

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