UK cutbacks slowing down Jersey’s finance legislation

Monday 31st January 2011, 3:00PM GMT.

The Jersey Finance panel of Jonathan White, Geoff Cook, Heather Bestwick and David Vieira Pictures: DAVID FERGUSON (01137656)

UK government cutbacks appear to be slowing up Jersey laws coming into force and causing difficulties for the Island’s finance industry.
As a result, new rules governing the finance industry are likely to be brought into force through local regulation.

A presentation of plans for the development of the finance industry in the year ahead, held on Friday, stressed that it was vital that new legal frameworks could be introduced quickly if the Island was to continue to successfully compete for international financial business.

The delays in achieving Royal Assent for Island legislation came to light at an event at which promotional body Jersey Finance laid out its plans for 2011 to industry members and politicians.

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1
Jon

January 31, 2011 at 7:22 pm

Who is really responsible for drafting Jersey Financial law, the States or Jersey Finance ???

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2
FB

February 1, 2011 at 12:06 pm

GOOD any thing to stop the finance.

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3
Outsider

February 1, 2011 at 2:52 pm

The answer Jon is neither it is the EU. This matter is EU driven legislation in all but name.

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4
treehugger

February 2, 2011 at 9:26 am

2 FB and you would replace it with ? Remember it makes up 70% of the island’s GDP!

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