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Press Release - 16 June 2005

Jersey Financial Services Commission seeks to appoint a new Commissioner

The Jersey Financial Services Commission is seeking to fill a vacancy which will arise on its Board of Commissioners later in the year.

The new Commissioner will be locally based and have broad experience in a commercial or public service environment at a senior level. This will not necessarily have to be in financial services. The new Commissioner will be expected to be an individual who will represent the public interest on the Board of Commissioners.

Commissioners are appointed by the States of Jersey from persons nominated by the Economic Development Committee.

The search for a new Commissioner will follow an open and transparent process which will include public advertising of the vacancy. The recruitment process will follow procedures agreed with, and overseen by, the Jersey Appointments Commission.

For further information please contact: -

Colin Powell, Chairman
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822084
Fax:+ 44 (0) 1534 822001
Email:c.powell@jerseyfsc.org

Notes to Editors.

1. This vacancy has arisen due to the decision by Jurat John Tibbo to step down from the Board of the Commission when his term of office expires on 30 November 2005. Jurat Tibbo has been on the Board since the Commission was first established in 1998.

2. Article 3(2) of the Financial Services Commission (Jersey) Law 1998 states that the Commissioners shall include -

(a) persons with experience of the type of financial services supervised by the Commission;

(b) regular users on their own account or on behalf of others, or representatives of those users, of financial services of any kind supervised by the Commission; and

(c) individuals representing the public interest,


and the composition of the Commission shall be such as to secure a proper balance between the interests of persons carrying on the business of financial services, the users of such services and the interests of the public at large.

3. Under the terms of reference set by the States of Jersey it is the duty of the Appointments Commission “to ensure that senior appointments to the public service, and to autonomous and quasi-autonomous public bodies, are properly made and to keep the appointments process, as a whole, under review.”

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