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Financial Services (Advertising) (Jersey) Order 200-.

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made (06/06/2008) regarding: Financial Services (Advertising) (Jersey) Order 200-.

Decision Reference: MD-E-2008-0118 

Decision Summary Title:

Financial Services (Advertising) (Jersey) Order 200-

Date of Decision Summary:

6 June 2008

Decision Summary Author:

Alan Heard,

Jersey Financial Services Commission (“JFSC”)

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Recommendation of the Jersey Financial Services Commission.

Date of Written Report:

3 June 2008

Written Report Author:

John Harris, Director General, JFSC.

Written Report :

Public or Exempt?

Public

Subject:

Financial Services (Advertising) (Jersey) Order 200- (the “Order”)

Financial Services (Jersey) Law 1998 (“FSJL”)

Decision(s):

In accordance with the recommendation of the Jersey Financial Services Commission, and pursuant to Articles 31 and 42 of the FSJL, the Minister agreed to make the Order.  The Minister instructed officers to make the necessary arrangements for the signed Order to be published and laid before the States.

Reason(s) for Decision:

  • To establish legal standards in respect of financial service advertisements.
  • To enable various remedial powers of the FSJL to be used in respect of unsatisfactory financial service advertisements which currently do not work without the reference point of the Order.
  • To enable the Financial Services (Investment Business (Overseas Persons – Exemption)) (Jersey) Order 2001 to operate effectively.
  • To address relevant recommendations arising from the assessment of Jersey by the International Monetary Fund published in 2003.

Resource Implications: 

The draft Order will not have any effect on the financial or manpower resources of the States of Jersey. 

Action required: 

Officers to undertake the necessary arrangements for the signed Order to be published and laid before the States.

Signature: 

Position:

Minister for Economic Development 
 

Date Signed:               6 June 2008  

Date of Decision:       6 June 2008 

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