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Economic Affairs - Approved Panel Minutes - 4 December 2014

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Economic Affairs Scrutiny Panel

Record of Meeting

4th December 2014

 

Present

Connétable J.E. Le Maistre, Chairman Deputy S.M. Brée, Vice-Chairman Connétable M.J. Paddock

Deputy D. Johnson

Apologies

 

Absent

 

In attendance

Mr. M. Orbell, Scrutiny Officer

 

Ref Back

Agenda matter

Action

Item 4 01/12/14

515/1/1(4)

1.  Draft  Financial  Services  Commission  (Amendment  No.  6) (Jersey) Law 201- (P.158/2014)

The  Panel  met  with  the  Director  of  Finance  Industry  Development, Financial Services Unit; Mr. W. Byrne (Jersey Finance Limited); Law Society Advocate Mr. W. Grace; and Mr. H. Ramsay of the Jersey Bankers  Association  to  obtain  an  industry  perspective  on  the  draft legislation to introduce Civil Penalties. Ms. J. Drum of the Association of Compliance Officers joined the meeting for part of the discussion.

A separate meeting was held later the same day with the Director of Finance  Industry  Development,  Mr  C.  Powell,  International  Adviser, Chief Minister's Department, and Mr. J. Harris , Director General, Jersey Financial Services Commission to complete the Panel's briefing on the draft legislation.

 

5

04.12.14