Jersey Resolution Authority (FOI)

Request

Questions in regard to the newly established Jersey Resolution Authority (JRA).

Questions:

A

Is the JRA set up in its own office?

B

If so, what is the annual cost / rent of the Office?

C

Are these position a full time contract?

D

Without giving a breakdown of individuals, what is the total salary cost?

E

Which States Department Budget will this total cost be coming from?

Response

A

The JRA is not set up as a separate office. Whilst the JRA will be an independent body, its core operational functions, including the employment of staff, takes place within the Jersey Financial Services Commission (JFSC).  Article 23 of the Freedom of Information (Jersey) Law 2011 has been applied as this information is accessible by other means. The information can be found on statesassembly.gov.je

Draft Bank (Recovery and Resolution - Commencement of Law) (Jersey) Act 202-

B

As an independent body, the JRA will be set up within the Jersey Financial Service Commission.  These costs are not held by the Government of Jersey, therefore Article 3 of the Freedom of Information (Jersey) Law 2011 applies.

C

The JRA is an independent body and members of the JRA are not currently full-time positions.  Article 23 of the Freedom of Information (Jersey) Law 2011 has been applied as the information is accessible by other means. Further information can be found on statesassembly.gov.je

Appointment of Jersey Resolution Authority Members

D

The JRA is currently in the process of recruiting staff and this information is not held by the Government of Jersey therefore Article 3 of the Freedom of Information (Jersey) Law 2011 applies. The JFSC may be contacted directly.

Jersey Financial Services Commission - contact us (jerseyjsc.org)

E

The JRA is funded by banks and not by the Government of Jersey. In November 2021 the JRA consulted on its funding model, and additional information can be found on the Jersey Financial Services Commission website.

Paper on Jersey Resolution Authority 2022 funding (jerseyfsc.org)

Articles applied

Article 3 - Meaning of "information held by a public authority"

For the purposes of this Law, information is held by a public authority if –

(a)     it is held by the authority, otherwise than on behalf of another person; or

(b)     it is held by another person on behalf of the authority.

Article 23 - Information accessible to applicant by other means

Information is absolutely exempt information if it is reasonably available to the applicant, otherwise than under this Law, whether or not free of charge.

A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant where the applicant may obtain the information.