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Press Release - 5 July 2002


A meeting of regulators from around the world will take place in Jersey on 8 and 9 July.

The meeting is one of a series held by a key Committee of the International Organisation of Securities Commissions (IOSCO). The objective of this Committee - the Implementation Committee - is to set international standards for the regulation of investment business and to make sure that those standards are implemented by regulators around the world. The meeting in Jersey is to establish a methodology for evaluating regulators.

Jersey's Financial Services Commission is a member of the Committee. Other members include regulators from the US, UK, France, Italy, Germany, Hong Kong, Australia, South Africa, Spain, Argentina, Brazil, Canada and elsewhere. The Chairman of the Committee is Ms Andrea Corcoran, of the US Commodity Futures Trading Commission.

The Committee is not in Jersey to evaluate regulation here. It has come to Jersey at the invitation of the Jersey FSC. The Committee is hosted by different members in turn. Previous meetings have been in Paris, Washington, Hong Kong and London.

The Director General of the FSC, Richard Pratt said: "We are pleased to welcome fellow regulators to Jersey. It always helps us if regulators can come and see us for themselves. We hope to build on our good relations by hosting the meeting. Jersey is also proud to be a member of this key standard setting body, so that we can play our part in establishing international standards of regulation and ensuring that all regulators are encouraged to meet the standards of the best."

For further information please contact:-

Richard Pratt,
Director General

Tel: + 44 (0)1534 822011
Fax: + 44 (0)1534 822001


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