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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Financial Services (Amendment of Law No. 6) (Investment Business) (Jersey) Regulations 202-

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 3 December 2021

MINISTERIAL DECISION REFERENCE:    MD-ER-2021-0066

DECISION SUMMARY TITLE:  Draft Financial Services (Amendment of Law No.6) (Investment Business) (Jersey) Regulations 202- Decision to lodge “au Greffe”

DECISION SUMMARY AUTHOR:

Private Secretary

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:  Draft Financial Services (Amendment of Law No.6) (Investment Business) (Jersey) Regulations 202-

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT: 

Associate Director

IS THE REPORT PUBLIC OR EXEMPT

Public

DECISION AND REASON FOR THE DECISION:

The Minister for External Relations and Financial services submitted for lodging “au Greffe” the draft Financial Services (Amendment of Law No.6) (Investment Business) (Jersey) Regulations 202-. The draft Regulations, if adopted, would amend the Financial Services (Jersey) Law 1998 to provide for the regulation of investment business advisory activities relating to pensions in Jersey (the Proposed Amendment).

 

The JFSC and the Law Offices Department have been consulted in respect of the Proposed Amendment and no objections have been raised.

RESOURCE IMPLICATIONS: 

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

 

ACTION REQUIRED: 

The Greffier of the States is requested to arrange for the draft Regulations to be lodged “au Greffe” for debate by the States at the earliest opportunity.

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

MINISTER FOR EXTERNAL RELATIONS AND FINANCIAL SERVICES

 

 

DATE SIGNED:     

EFFECTIVE DATE OF THE DECISION (if different)

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