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Press Release - 18 February 2005

Statement regarding the websites jerseyfsc.com and jfsc.com

The Commission has been keeping under review the content of two websites, jerseyfsc.com and jfsc.com.

Both websites contain misleading information about the Commission and certain of its officers. In particular, the websites contain inaccurate and unjustified allegations against the Director General and Deputy Director General of the Commission.

The Commission is concerned at the damage that this misleading information and unjustified allegations may have on the reputation of its staff, the Commission itself, and on Jersey as an international finance centre.

One of the Commission’s statutory guiding principles is “the protection and enhancement of the reputation and integrity of the Island in commercial and financial matters” (see ‘Note to Editors’.) With that in mind, the Commission has taken the decision to issue this statement to set out the approach that is being adopted to address this matter.

Notices on the two websites indicate that they may be owned by Senator Ted Vibert, a member of the States of Jersey. Some of the misleading information and allegations are also reproduced on Senator Vibert’s own website, tedvibert.com. In view of this, the Director General and Deputy Director General have written to Senator Vibert to point out the factual inaccuracies on the websites concerning themselves and to request a retraction of the unjustified allegations. A copy of each letter is attached below.

Please click here to download PDF Document (1.3mb)

The Chairman of the Board of Commissioners, Mr Colin Powell, commented, “I deplore the personal attacks on the Director General and Deputy Director General and the allegations made against them, which are totally inaccurate and unjustified. Both individuals, and the Commission’s staff as a whole, have my full support and confidence and that of the other Commissioners.”

The Commission is concerned that persons seeking to correspond with the Commission may inadvertently send emails to an incorrect email address due to the similarity of the names of the above captioned websites to the Commission’s own. It would like to remind correspondents that the Commission’s correct website address is www.jerseyfsc.org. The Commission’s general email address is info@jerseyfsc.org.

 

Notes to Editors:

1. Article 7 of the Financial Services Commission (Jersey) Law 1998 is
reproduced below:

“Guiding principles

In exercising any of its functions the Commission may take into account any matter which it considers appropriate, but shall in particular have regard to –

(a) the reduction of the risk to the public of financial loss due to dishonesty, incompetence or malpractice by or the financial unsoundness of persons carrying on the business of financial services in or from within the Island;

(b) the protection and enhancement of the reputation and integrity of the Island in commercial and financial matters; and

(c) the best economic interests of the Island.”

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