The Jersey Financial Services Commission (JFSC) has published its Annual Report and financial statements for 2016.
The report documents the JFSC’s performance against its strategic objectives, which in 2016 focused on facilitating access to international financial markets for Jersey, matching international standards, and meeting legal and other requirements.
It highlights key achievements during the year, including engaging with Jersey’s finance industry on cyber-security and fintech, consulting on MiFIDII/MiFIR and Basel III, and working on various registers for the government of Jersey.
The regulator also cites progress in its own internal change programme – restructuring the team, transitioning to risk-based and entity-based oversight and developing a new risk model.
JFSC Director General John Harris commented: “We have made real headway towards becoming a more progressive, enabled and accessible regulatory organisation, aligned to the needs of the market and Jersey’s place within it during challenging times for financial services everywhere.
"We have moved forward on all fronts; people development, technological advancements, refreshed supervisory practices and a maturing relationship with Industry.
“One element of our work we are particularly proud of is the stance we took on investment mis-selling, with the development of a public awareness campaign. It was the first of its kind for the JFSC and we will continue the work in this area in 2017.”
To view the annual report click here