Jersey Financial Services Ombudsman: draft legislation published

After many years in the pipeline, the draft Financial Services Ombudsman (Jersey) Law 201- has been lodged for debate in the States of Jersey. The draft law and a report in relation to the introduction of the Financial Services Ombudsman for Jersey (or the Channel Islands) are available on the States Assembly website. Mourant Ozannes sets out a short summary of the proposals in this briefing.

The report accompanying the legislation indicates that the Ombudsman will have powers to investigate complaints and, if upheld, make awards to compensate complainants. Unlike our normal court procedure in Jersey, the Ombudsman will therefore fulfil an inquisitorial role, by both investigating complaints and making awards. The Ombudsman will also make decisions based on what is considered to be ‘fair and reasonable’ in the circumstances, although will also take account of legislation, codes and industry standards…

If you are registered and logged in to the site, click on the link below to read the rest of the Mourant Ozannes briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Mourant Ozannes

  • Protected Cell Companies

    Guernsey was the first jurisdiction to introduce the concept of a protected cell company but the Companies Law has effectively modernised it.

  • Financial services and regulatory winter update – December 2014

    Top tips for dealing with a JFSC on-site examination; guidance on investment business on-site examinations and an important decision of the Royal Court concerning the information a party subject to regulatory action should be provided with.

View more briefings from Mourant Ozannes

Overview

6th Floor
125 Old Broad Street
London
EC2N 1AR
UK
http://www.mourantozannes.com

Total partners: 51
Total fee earners: 248

Jobs