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Information and public services for the Island of Jersey

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

Pension Regulation: Feedback and Further Consultation

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.

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  • 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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 19 December 2019

Ministerial decision reference    MD-ER-2019-70

Decision summary title:   Publication of consultation on the regulation of pension business

Decision summary author

Lead Policy Advisor, Financial Services

Is the decision summary public or exempt?  

Public

Report title  Introducing pension regulation: feedback and further consultation

Report author or name of

person giving report

Lead Policy Advisor, Financial Services

Is the report public or exempt?

Public

Decision and reason for the decision

The Minister for External Relations approved and authorised the publication of a consultation paper proposing to bring pension business in to the scope of regulation. 

 

The consultation paper did not propose any legislative proposals. It outlined feedback received from a previous consultation paper and offered further proposals on the structure of a regulatory framework.

Resource implications  

There are no resource implications for the States of Jersey as a result of this decision.

Action required  

The Lead Policy Advisor, Financial Services is to arrange for the consultation paper to be published on the Government of Jersey website.

SIGNATURE:

 

POSITION:

Senator Ian Gorst

Minister for External Relations

DATE SIGNED

 

EFFECTIVE IMMEDIATELY

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