Jersey Financial Services Commission - appointment of Commissioner

STATES OF JERSEY

JERSEY FINANCIAL SERVICES COMMISSION: APPOINTMENT OF COMMISSIONER

Lodged au Greffe on 25th September 2008 by the Minister for Economic Development

STATES GREFFE

PROPOSITION

THE STATES are asked to decide whether they are of opinion

in p u rsuance of Article 3 of the Financial Services Commission (Jersey) Law  1998 to appoint Advocate

Deborah Jane Lang, née Nance, as a Commissioner of the Jersey Financial Services Commission with effect from 30th November 2008 for a period of 3 years.

MINISTER FOR ECONOMIC DEVELOPMENT

REPORT

The appointment of Commissioners to the Jersey Financial Services Commission (the "Commission") is dealt with in Articles 3 and 4 of the Financial Services Commission (Jersey) Law 1998 (the "Law").

Paragraph (1) of Article 3 reads as follows –

"(1) T he Commission shall consist of –

(a ) a C hairman; and

(b ) n o t less than six other Commissioners."

Paragraph (2) reads as follows –

"(2) T he States shall appoint –

(a ) th e Commissioners from persons nominated by the Minister; and

(b ) a C ommissioner nominated by the Minister to be Chairman of the Commission, an d t he appointments shall be debated in camera."

Paragraph (3) states –

"(3) T he Commissioners shall include –

(a ) p er sons with experience of the type of financial services supervised by the Commission;

(b ) re g ular users on their own account or on behalf of others, or representatives of those users,

of financial services of any kind supervised by the Commission; and

(c ) in d ividuals representing the public interest,

a n d t he composition of the Commission shall be such as to secure a proper balance between the

interests of persons carrying on the business of financial services, the users of such services and the interests of the public at large."

To ensure such a proper balance on the Board, the Commission decided, on this occasion, to seek a replacement Commissioner to represent the public interest but who preferably also had experience of the type of financial services supervised by the Commission.

The search for a Commissioner with such experience has followed an open and transparent process, which included public advertising of the vacancy. The recruitment process followed procedures agreed with, and overseen by, the Jersey Appointments Commission ("JAC") and the JAC has confirmed that the recruitment process has met its requirements for openness of competition, impartiality, equality of opportunity and selection based on merit.

Pursuant to paragraph (2) of Article 4, the term of appointment of a Commissioner is prescribed by Part 2 of Schedule 1 to the Law, paragraph 1(2) of which reads as follows –

"(2) A Commissioner shall be appointed by instrument in writing for a period not exceeding three

years and upon expiry of such period shall be eligible for reappointment."

By virtue of Article 4(1) all Commissioners are required to take oath before the Royal Court in the form set out in Part I of Schedule 1 to the Law before they begin to act in execution of the Law.

The Minister for Economic Development wishes to nominate the following person for appointment by the States –

Advocate Deborah Jane Lang, née Nance Age 46.

Jersey qualified Solicitor and Advocate. Member of the Jersey Law Society.

Career

1984 to 2005  B ailhache Labesse (now Appleby), which included acting as the following –

• G  en e ral practice as a Jersey Advocate;

• H  ea d of Personal Law Department;

• M  a n aging Partner of Bailhache Labesse; and

• M  a n aging Director of Bailhache Labesse Trustees Limited.

2005 to date S elf employed consultant assisting law firms and trust companies with strategic planning and

management.

May 2008 E s t ablished sole practitioner legal practice specializing in wills and succession planning for high

net worth clients.

Directorships currently held

1998 to date D aisy Hill Real Estates Limited (non executive chairman of a private property owning company).

2006 to date B asel International Limited (non executive director of a company that owns a Jersey regulated

trust company (Basel Trust Corporation (Channel Islands) Limited) and a trust company in Geneva (BasTrust Limited)).

2007 to date T homas & Dessain Limited (non executive director and part time consultant of a Jersey based

recruitment company).

2007 to date T he Law Debenture Trust (Channel Islands) Limited (non executive director of a Jersey regulated

trust company).

Other positions currently held

Jan 2008 M  e m ber of the Jersey Police Complaints Authority.

Aug 2008 M e m  ber of Jersey Youth Court Panel.

Positions previously held

1992 to 2003  J ersey Education Audit Committee (member and then chairman). 1998 to 2001  J ersey Childcare Trust (founder chairman).

2000 to 2003  T he States of Jersey Audit Commission (commissioner).

2002 to 2004  J ersey Tourism Development Fund Sub Committee (member).

2002 to 2004  H aut Vallée School Governor.

Other Commissioners have been appointed until the following dates – 30th November 2008

John Averty;

Advocate Michael Clapham; and Scott Dobbie, CBE.

30th June 2009 John Boothman.

17th September 2009

Geoffrey Colin Powell, CBE (Chairman).

28th February 2010 John Harris .

31st May 2010

Jacqueline Richomme ( Deputy Chairman); and Dr. Frederik Musch.

19th July 2010 Sir Nigel Wicks.

22nd October 2010 Clive Jones