Appointment of Chairman of the Jersey Financial Services Commission.

Information about the publication of Ministerial Decisions

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 (11/06/2009) regarding: Appointment of Chairman of the Jersey Financial Services Commission.

Decision Reference: MD-E-2009-0096
Decision Summary Title :	Appointment of Chairman of the Jersey Financial Services Commission		Date of Decision Summary:	10 June 2009
Decision Summary Author:	Finance Industry Development Assistant		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	n/a
Written Report Title :	Appointment of Chairman of the Jersey Financial Services Commission		Date of Written Report:	10 June 2009
Written Report Author:	Finance Industry Development Assistant		Written Report : Public or Exempt?	Public
Subject: Appointment of Clive Stanley Jones as Chairman of the Jersey Financial Services Commission (“the Commission”).
Decision(s): The Minister agreed the nomination of Clive Stanley Jones for appointment as Chairman of the Commission with effect from 18 September 2009. The Minister approved the proposition and report and that these should be lodged au Greffe for debate on 30 June 2009.
Reason(s) for Decision: The current Chairman of the Commission, Colin Powell CBE, will step down on 17 September 2009, having attained the statutory retirement age for Commissioners. Under Article 3 of the Financial Services Commission (Jersey) Law 1998, the Chairman of the Commission is appointed by the States on the nomination of the Minister.
Resource Implications: There are no resource or manpower implications for the States.
Action required: The proposition and report to be lodged au Greffe for debate on 30 June 2009.
Signature: Senator A.J.H.Maclean		Position: Minister for Economic Development
Date Signed:		Date of Decision (If different from Date Signed):

Appointment of Chairman of the Jersey Financial Services Commission.

THE MINISTER FOR ECONOMIC DEVELOPMENT (“THE MINISTER”)

Appointment of Chairman of the Jersey Financial Services Commission

1. Issue and Recommendation

1.1. On 17 September 2009, the current Chairman of the Board of Commissioners of the Jersey Financial Services Commission (“the Commission”), Colin Powell CBE (“Mr Powell”), will step down as Chairman, having attained the statutory retirement age for Commissioners.

1.2. Article 3 of the Financial Services Commission (Jersey) Law 1998 provides that the States shall appoint a Commissioner nominated by the Minister for Economic Development (“the Minister”) to be Chairman of the Commission.

1.3. It is recommended that the Minister approves the nomination of Clive Stanley Jones for appointment as Chairman of the Commission with effect from 18 September 2009 and approves the proposition and report to be lodged au Greffe for debate on 30 June 2009.

2. Background

2.1. The search for a replacement for the current Chairman has followed an open and transparent process, which included consultation with stakeholders, the appointment of a local recruitment consultant and the public advertising of the vacancy.

2.2. The Jersey Appointments Commission (“JAC”) has confirmed that the recruitment process has met its requirements for openness of competition, impartiality, equality of opportunity and selection based on merit.

2.3. The Commission delegated, through its Nomination Committee, to a Selection Panel, consisting of Commissioner Jacqueline Richomme (Deputy Chairman), Commissioner John Boothman, Commissioner Sir Nigel Wicks and Elizabeth Rees (representing the JAC), consideration of the applicants for the position of Chairman.

2.4. The Selection Panel considered eight applications selected by the recruitment consultant and short listed four candidates for interview.

3. The Board’s Recommendation

3.1. The Selection Panel recommended to the Nomination Committee, which in turn recommended to the Board of Commissioners, that Clive Stanley Jones (“Mr Jones”) should be recommended to the Minister for appointment as Chairman.

3.2. The Board of Commissioners decided on 6 May 2009 to recommend Mr Jones to the Minister for appointment as Chairman by the States with effect from 18 September 2009.

3.3. Mr Jones is a serving Commissioner, having been appointed by the States for a term of three years with effect from 23 October 2007. He possesses a distinguished record including 38 years’ experience of the type of financial services supervised by the Commission.

3.4. From 1996 to 2007, Mr Jones was employed by Citigroup as Country Officer for the Channel Islands and acted as Chairman and Managing Director of Citibank (Channel Islands) Limited, Citigroup’s representative in Jersey, responsible for all interaction with regulators, politicians and competitors, either Chairman or Director of all Citibank companies in Jersey, and a Member of the Global Wealth Management European Business Risk Committee.

3.5. Mr Jones is a former President of the Jersey Bankers Association, former Chairman of the Jersey Finance Industry Association, and a founding Board Member of Jersey Finance Limited.

3.6. Since his appointment as a Commissioner, Mr Jones has been appointed as Chairman of the Board of Trustees of Jersey Heritage Trust.

3.7. The appointment of Mr Jones as Chairman would have effect from 18 September 2009 until the expiration his current term as a Commissioner on 22 October 2010, whereupon he will be eligible for reappointment.

4. Recommendation

4.1. It is recommended that the Minister approves the nomination of Clive Stanley Jones for appointment as Chairman of the Commission with effect from 18 September 2009 and approves the proposition and report to be lodged au Greffe for debate on 30 June 2009.

FINANCE INDUSTRY DEVELOPMENT

10 June 2009