Thursday July 27 2017
News Source: Global Exchanges
Focus: Other
Type: General
Country: Jersey
Link: http://www.jerseyfsc.org/media/1447/consultation-paper-no-6-2017-amendments-to-codes.pdf
The Jersey Financial Services Commission has published a Consultation Paper on Amendments to Codes of Practice.
The amendments to the Codes proposed in this paper fall, broadly, into three categories:
- amendments that could be termed ‘routine maintenance’ – for example, to improve the clarity of certain provisions in the Codes;
- amendments that will modify regulatory requirements in order to address issues that the JFSC has identified during the course of supervising registered persons; and
- amendments to ensure that the JFSC’s regulatory requirements comply with international regulatory standards.
The consultation describes and explains the reasons for, the proposed amendments to the Codes which include the following areas:
- Reviewing corporate governance arrangements
- Notification of qualified audit
- Maintenance of “up-to-date” records
- Definition of “complaint”
- Risk identification and management
- Dealing with the JFSC in an open and co-operative manner
- Cessation of Business Plans
- Use of the JFSC’s online portal
Please click on the above link for more information