Nomination of Commissioner to Jersey Financial Services Commission.

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A decision made (10/01/2007) regarding: Nomination of Commissioner to Jersey Financial Services Commission.

Subject:	Nomination of Commissioner to Jersey Financial Services Commission
Decision Reference:	MD-E-2007-0004		Exempt clause(s):
Type of Report: (oral or written)	Written		Person Giving Report (if oral):
Telephone or e-mail Meeting?			Report File ref:
Written report – Title	Jersey Financial Services Commission – Nomination for Commissioner
Written report – Author (name and job title)	Paul de Gruchy, Director, Finance Industry Development
Decision(s): The Minister decided to bring a proposition to the States at the earliest opportunity and approved a report and proposition nominating Mr John Richard Harris to be appointed as a Commissioner and seeking to have the nomination debated in camera at the earliest opportunity, in accordance with Article 3(2) of the Financial Services Commission (Jersey) Law.
Reason(s) for decision: Previous Director-Generals of the Commission have been appointed to the Board of Commissioners. This is felt to have been helpful in ensuring close communication between all elements of the Commission and it is proposed that the practice be continued. Mr Harris’s appointment as D-G was made following a lengthy recruitment procedure carried out in accordance with the corporate governance procedures required by the Jersey Appointments Commission.
Action required: PDG to take necessary steps to lodge the proposition and report at the earliest opportunity.
Signature: Senator P.F.C.Ozouf (Minister)		Date of Decision: 10 January 2007

Nomination of Commissioner to Jersey Financial Services Commission.

MINISTER FOR ECONOMIC DEVELOPMENT

JERSEY FINANCIAL SERVICES COMMISSION

NOMINATION OF COMMISSIONER

1 THE ISSUE

1.1 The Jersey Financial Services Commission (the “Commission”) has proposed a person to be appointed as a Commissioner. In order for the appointment to take place, that person must be nominated by the Minister and approved by the States.

1.2 The purpose of this Paper is to introduce the background to this matter and to recommend that the Minister lodge a proposition nominating Mr John Richard Harris to be appointed a Commissioner for debate at the earliest opportunity.

2 BACKGROUND

2.1 The Background to this proposal, including a draft report and proposition, is set out in the annex this paper, which was prepared by Colin Powell, Chairman of the Commission.

2.2 In summary, it is proposed that Mr Harris be appointed a Commissioner of the Commission for a period of three years. From 1 February 2007 Mr Harris will take up the position of the Director General of the Commission on a full time basis. His predecessors in that role have also been appointed Commissioners and this has helped to ensure a close working relationship between the Commissioners and the executive of the Commission.

3 ISSUE AND RECOMMENDATION

3.1 It is recommended that the Minister accepts the proposal of the Commission and bring a proposition to the States at the earliest opportunity nominating Mr Harris to be appointed as a Commissioner and seeking to have the nomination debated in camera at the earliest opportunity, in accordance with Article 3(2) of the Financial Services Commission (Jersey) Law, with a view to Mr Harris’s appointment taking effect, if approved, on 2nd March 2007.

PAUL DE GRUCHY

Director, Finance Industry Development

08 January 2007Annex

JFSC Paper of 4 January 2007