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Jersey Chamber of Commerce

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Category: Financial  Local Business News

A Four Year Strategic Focus for the JFSC

Feb 05, 2020

Fighting financial crime will be the Jersey Financial Services Commission‘s (JFSC) number one priority for the next four years.   Unveiling its strategic roadmap for 2020-2023 and its business plan for the year ahead, the regulator has committed to making significant enhancements to its operations and systems in order to become more dynamic, robust and effective.   As well as focusing on financial crime, over the next four years the JFSC will prioritise developing its approach to supervising businesses and strengthening its own organisational resilience.   Embarking on its largest capital expenditure programme to date, the regulator is raising its fee income by 14% in 2020 to inject critical investment in its infrastructure. In addition to enhancing its regulatory operations, the JFSC is also radically transforming the Companies Registry, building new systems and digitising services to improve customer experience.  

John Eatwell, JFSC Chairman commented: “As I enter the last three months of my Chairmanship, I am encouraged by the JFSC’s clear vision and strategic priorities. It is imperative that we invest in our regulatory and registry infrastructures for the next decade to ensure the quality of our regulation and our registry capabilities continues. This is, after all, intrinsically linked to Jersey’s reputation as a first-class finance centre. We must therefore continue to meet international standards in regulation as a priority and ensure the Island’s success in the MONEYVAL assessment.” Martin Moloney, JFSC Director General added: “We are undertaking an ambitious programme of work to ensure we become even more effective at what we do. We have already laid strong foundations, but our environment is increasingly uncertain, complex and exposed to technical innovation. We know that we cannot serve the Island and the finance industry by standing still. At a time when the majority of Jersey’s finance industry is enjoying a sustained period of prosperity, there has never been a better or more necessary time for us to focus and invest in our future.”
The JFSC is presenting its four-year strategic roadmap and 2020 business plan to Industry practitioners on 6 February at the Radisson Hotel.

Both the strategic roadmap and the business plan will be published on the JFSC’s website on 6 February.

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