JFSC publishes 2016 Annual Report

Thursday 8 June 09:19

The Jersey Financial Services Commission (JFSC) has today published its Annual Report and financial statements for 2016.

The Report documents how the JFSC has performed against its strategic objectives for the year, which in 2016 predominantly focused on facilitating access to international financial markets for Jersey, matching international standards, meeting legal and other requirements, and improving the regulator’s own performance.

Notable achievements for the year included proactively engaging with Jersey’s finance industry on cyber-security and Fintech, consulting on MiFID II / MiFIR and Basel III, working on various registers for the Government of Jersey, and making significant progress with the JFSC’s own internal Change Programme. Regarding the latter, the regulator successfully completed an overhaul of its Supervision operations, including restructuring the team, transitioning to risk-based and entity-based oversight, and developing a new risk model; all with the aim of making the JFSC a better organisation with which to do business.

JFSC Chairman, John Eatwell commented:

"2016 will probably be best remembered for seismic events arising in the JFSC's external environment; the UK's vote to leave the EU and of course the outcome of the US presidential election. From an internal perspective, it was a year where the JFSC made significant progress towards our strategic goal of comprehensive risk-based regulation. This was achieved through continued improvements and developments in our internal operations and our relationship with Industry. Amid these changes, we have remained committed to being an agile, listening regulator and many of our new structures and mechanisms are designed to make that approach far more flexible and efficient."


JFSC Director General, John Harris added:

“We have made real headway towards becoming a more progressive, enabled and accessible regulatory organisation, aligned to the needs of the market and Jersey’s place within it during what remain highly challenging times for financial services everywhere. We have moved forward on all fronts; people development, technological advancements, refreshed supervisory practices and a maturing relationship with Industry. One element of our work in 2016 that we are particularly proud of is the proactive stance that we took on investment mis-selling with the development of a public awareness campaign. It was the first of its kind for the JFSC and we will continue the successful work in this area in 2017.”

The 2016 Annual Report is available on the JFSC website.

 

Events

  • JeCC - External Render / EWI / Architectural Profiles Building Trust Into your External Facade by Pentagon Builders Merchants

    › read more
  • JeCC - BS7533 Compliant Hard Landscaping Paving the way to Success with Parex HardLandscaping by Pentagon Builders Merchants

    › read more
  • Jersey Electricity - Everything you wanted to know about heat pumps but were afraid to ask Want to know more about Heat Pumps, their application, how they fit with the new Building Bye Laws, what tariff is best?

    › read more
  • Market Fountain Unveiling Following a period of refurbishment, the market fountain which has been restored to its former glory will be unveiled by the Connétable of St Helier accompanied by the Minister for Infrastructure.

    › read more
  • WDF - Women as Team Players - sponsored by Santander Women as Team Players with Jennifer Moore – Yoga & Ironman Triathlon Sam Horsfall – Triathlon Coach and parkrun Jemima Leach and Helene Mon Petit – Island Games MBT Cycling Team

    › read more
  • Public Meeting: CIFO 2016 Annual Report The independent Channel Islands Financial Ombudsman (CIFO) is holding a public event to mark the publication of its 2016 annual report and accounts.

    › read more
  • Eco Active Business and BIFM sustainability event Have you booked your place at next week’s sustainability event?

    › read more
  • Is Your Business Autism-Friendly? Did you know more than one in 100 of your customers are autistic? Would you like to find out how you can make their experiences better?

    › read more
  • Benest Corbett Renouf Joins Forces With Farrer & Co to Reinforce Need for Safeguarding Children LAW firm Benest Corbett Renouf has teamed up with the market-leading London firm Farrer & Co to present a safeguarding conference. The event, “Creating Safer Organisations”, will take place on Thursday, 15th June in Jersey.

    › read more
  • Ibex Education - Excel 1 to 1s Our expert UK trainer will work with you on particular issues

    › read more

Chamber Knowledgebase

Our frequently asked questions

Chamber News 

All the latest news from Chamber in one monthly PDF

Jersey Airport / Harbours

The latest arrivals and departures, select a link above

The Jersey Chamber of Commerce - Annual Charity of Choice

the benefits of membership

Networking opportunities, including our popular luncheons
Topical seminar programme
Support and guidance on doing business in Jersey


And become one of over 500 member businesses supporting Chamber in its aim of ensuring that local business is at the heart of a thriving and diverse local economy.

Call 01534 724536
› About Chamber


Copyright © Jersey Chamber 2012 - The Jersey Chamber of Commerce welcomes your comments and views. However, the posting of comments is subject to our terms which can be read here. Comments posted by users of this site are not the Chamber's comments nor do they represent the views of the Jersey Chamber of Commerce.

↑ Back to top