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Information and public services for the Island of Jersey

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

Financial Services Ombudsman (Jersey) Law 201-

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.

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A decision made 20 January 2014:

Decision Reference: MD - E - 2014 - 0004

Decision Summary Title :

Financial Services Ombudsman (Jersey) Law 201-

Date of Decision Summary:

20 January 2014

Decision Summary Author:

 

Strategy Manager

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Financial Services Ombudsman (Jersey) Law 201-

Date of Written Report:

20 January 2014

Written Report Author:

Strategy Manager

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: Draft Financial Services Ombudsman (Jersey) Law 201-.

Decision(s):

The Minister approved the draft Financial Services Ombudsman (Jersey) Law 201- and requested that it be lodged ‘au Greffe’.

Reason(s) for Decision:

This legislation allows for the establishment of an Ombudsman to consider individual customer complaints regarding financial services provided in Jersey. The Ombudsman represents a suitable opportunity for pan-island co-operation, bringing the benefits of improved consistency and efficiency for both customers and financial services providers in both jurisdictions.

Resource Implications:

Until the Financial Services Ombudsman Scheme has the power to levy the industry, the set-up costs will be funded by the States of Jersey & Guernsey on a fully recoverable basis.

Action required:

The Greffier of the States is requested to arrange for the draft Financial Services Ombudsman (Jersey) Law 201- to be lodged ‘au Greffe’ as soon as possible.

Signature:

 

Senator AJH Maclean

Position:

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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