Financial Services Industry: Accounting Officer: Director of Financial Services

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 29 November 2012:

Decision Reference: MD-E-2012-0155
Decision Summary Title :	Appointment of the Director of Financial Services as Accounting Officer for the Financial Services Industry.		Date of Decision Summary:	November 2012
Decision Summary Author:	Performance and Operations Manager		Decision Summary: Public or Exempt? (If exempt State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Oral		Person Giving Oral Report:	Chief Executive Officer
Written Report Title :	N/A		Date of Written Report:	N/A
Written Report Author:	N/A		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	N/A
Subject: Appointment of the Director of Financial Services as Accounting Officer with accountability for the development of the Financial Services Industry and delegation of authority to approve budget transfers.
Decision(s): That the Economic Development Minister requested that the Treasury and Resources Minister appoint the Director of Financial Services as an Accounting Officer within the Economic Development Department with responsibility for the development of the Financial Services Industry and associated budgets from 1st January 2013. The Minister delegated his authority to approve budget transfers between departments to the Director of Financial Services up to a limit of £200,000 in respect of his delegated area of accountability.
Reason(s) for Decision: Currently, the Chief Officer of the Economic Development Department is Accounting Officer for spend in relation to support and development of the financial services industry, through the Finance Industry Development Team and the grant to Jersey Finance Limited. The responsibility and accountability for this area is being transferred to the new Director of Financial Services. As such, it is appropriate for the new Director to become Accounting Officer for this area. The appointment of an additional Accounting Officer is under Article 37(2)(b) of the Public Finances Law.
Resource Implications This decision does not result in any increase in States expenditure or manpower.
Action required: Regulatory Advisor – Treasury and Resources to draft the letter of appointment for signature of the Treasury and Resources Minister. Finance Director – Corporate Group to restructure Departmental Budgets to reflect the operational accountabilities of the two Accounting Officers resulting from this Decision.
Signature: Senator AJH Maclean		Position: Economic Development Minister
Date Signed:		Date of Decision (If different from Date Signed):