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Banking Business (Amendment of Law) (Jersey) Regulations 201-: Information sharing gateways

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 25 March 2019

MINISTERIAL DECISION REFERENCE:    MD-ER-2019-0018 

DECISION SUMMARY TITLE:  Banking Business (Amendment of Law) (Jersey) Regulations 201- in respect of information sharing gateways

DECISION SUMMARY AUTHOR:

Lead Policy Advisor: Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

 

REPORT TITLE:  Report to the Banking Business (Amendment of Law) (Jersey) Regulations 201-

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

 

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The Minister for External Relations:

 

  • approved the draft Banking Business (Amendment of Law) (Jersey) Regulations 201- (the draft Regulations) and the attached report; and
  • directed that the documents be lodged au Greffe for debate by the States at the earliest opportunity.

 

The draft Regulations amend the information sharing gateways in the Banking Business (Jersey) Law 201-. This brings the information sharing gateways in line with those in Directive 2013/36/EU, known as the Capital Requirements Directive IV.

RESOURCE IMPLICATIONS:

There are no resource implications for the States of Jersey as a result of this decision.

ACTION REQUIRED:

The Financial Services Unit is to request the Greffier of the States to arrange for the lodging au Greffe of the draft Regulations and report for debate by the States as soon as possible.

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

MINISTER FOR EXTERNAL RELATIONS

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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