Ombudsman consults on 2017 levies

Monday 6 February 11:56

The Channel Islands Financial Ombudsman (CIFO) has published a consultation paper today (03 February 2017) on proposed levy schemes for 2017.

These set the levies payable by financial services providers registered or holding a licence, permit or certificate with the Financial Services Commissions in specified areas of activity (registered providers). The draft 2017 levy schemes follow the same approach as previous years.  The consultation paper can be found at https://www.ci-fo.org/resource-room/cifo-consultations/current-consultations/ .

CIFO is mitigating the impact in 2017 of increased costs on the total required in levies.  The consultation paper sets out that while CIFO’s budgeted expenditure has increased, with careful management of the reserves and the income from case fees, the increase in the total levy required from 2016 to 2017 has been kept to 5.7%. The amounts payable by individual levy-payers are also affected by changes in the number of registered providers in each sector of activity.

The consultation paper flags that a major funding review is planned subsequently, with multi-phase consultation during 2017-8 to seek stakeholders’ views on a future funding model to come into effect in 2019.

The consultation seeks views on the proposed 2017 levy schemes, as well as any feedback on the levy collection process. Interested parties are invited to send any response in writing by email to consultations@ci-fo.org or by post to Channel Islands Financial Ombudsman, P O Box 114, Jersey, JE4 4QG. The consultation closes on Monday 20 March 2017.

If you have any queries, please email consultations@ci-fo.org or phone 01534 748612 or 01481 722218.

Events

  • Chamber Connection Networking Night

    › read more
  • Critical Briefing: The Intergenerational Workforce 'Recruiting, managing and inspiring the Intergenerational Workforce'

    › read more
  • Digital Jersey Hub Desk Competition Competition to give digital entrepreneurs a boost!

    › read more
  • The Channel Islands Financial Ombudsman Briefing Sessions

    › read more
  • Ibex Education - ITIL® Practitioner Certificate – Qualification for IT Service Operations – NEW DATE 3 Days - £1495.00 includes exam

    › read more
  • Ibex Education - ITIL® Foundation Certificate – Qualification for IT Service Operations 3 Days - £1,195.00 Includes exam

    › read more
  • Chamber Connection: Meet, Greet and Debate with Jersey Election 2018 Candidates

    › read more
  • Copolo & Coyde - Asbestos Awareness Half day 1.30pm start.

    › read more
  • Copolo & Coyde - Display Screen Equipment (DSE) - Workstation Assessor 1 Day

    › read more
  • Copolo & Coyde - Site Management Safety Training Scheme (SMSTS) 5 Days

    › read more

Chamber Knowledgebase

Our frequently asked questions

Contact Magazine

Click here to view the latest digital issue of the Channel Islands Business Magazine.

Jersey Airport / Harbours

The latest arrivals and departures, select a link above

Charity of Choice 2018

Click here to learn more about the vital work of the Jersey Employment Trust and how you can help.

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