PRESS RELEASE 13 September 2010
BANKING: FINANCIAL REPORTING AND DISCLOSURES
The Commission has today published a feedback paper following the conclusion of its consultation on the regulatory requirements for Jersey registered deposit takers in respect of the provision of financial information and public disclosures. The aims are to:
- bring together existing requirements regarding the provision of financial information to the Commission
by registered deposit takers;
- increase the availability to the public of financial information on banking groups represented in Jersey; and
- require that disclosures regarding relevant depositor compensation schemes are made in banks’ Jersey advertisements.
In respect of the third aim, Codes of Practice for Deposit-taking Business have been amended so as to require such disclosures to be made in deposit advertisements issued after 1 July 2011.
Copies of the following documents can be downloaded from the Commission’s Website at www.jerseyfsc.org
- Ends -
For further information please contact: -
Mark Sumner - Director, Banking and Insurance
Tel: + 44 (0) 1534 822117
Fax: + 44 (0) 1534 822047