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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Approval of the Financial Services (Amendment of Law) (No. 3) (Jersey) Regulations 200-

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A decision made (14/03/2008) regarding: Approval of the Financial Services (Amendment of Law) (No. 3) (Jersey) Regulations 200- ("the Regulations").

Decision Reference:  MD-E-2008-0052 

Decision Summary Title :

Financial Services (Amendment of Law) (No 3) (Jersey) Regulations 200-

Date of Decision Summary:

13 March 2008

Decision Summary Author:

James Mews

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title :

Financial Services (Amendment of Law) (No 3) (Jersey) Regulations 200-

Date of Written Report:

13 March 2008

Written Report Author:

James Mews

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:  

Approval of the Financial Services (Amendment of Law) (No 3) (Jersey) Regulations 200- (“the Regulations”)

Decision(s):

The Minister for Economic Development approved the Regulations and determined that it should be lodged au Greffe forthwith in order to secure a provisional date for debate of 29 April 2008.

Reason(s) for Decision:

Following the Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008, the Financial Services (Jersey) Law 1998 needs to be revised.  The Regulations will amend the definition of “funds services business” to include functions carried out in relation to unregulated funds.

 

Resource Implications:

No measurable cost or manpower implications arise for the Commission, the States or industry.

Action required:

The Minister for Economic Development to approve the Regulations and the Finance Industry Executive to take such steps as are necessary to lodge them au Greffe in time to be debated on 29 April 2008.

Signature:  Senator P.F.C.Ozouf  

Position:  Minister

Date Signed: 

Date of Decision (If different from Date Signed): 

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