The Jersey Financial Services Commission (JFSC) has today published its Annual Report and financial statements for 2015.

Some highlights include

1. During 2015, 76 new enforcement cases were opened.
   1. Although fewer than the number of cases opened in 2014, the JFCS suggest this is dues to the complexity of cases has generally increased.
2. As at the end of 2015,
   1. The JFSC was working on 53 ‘live’ cases.
   2. The JFSC had issued 95 formal notices requiring information and/or documents to be provided,
   3. The JFSC had issued a further 21 notices compelling individuals to attend the JFSC for formal interview.
   4. The JFSC had issued 15 Public Statements during 2015, identifying regulatory or legal breaches by firms or individuals.
      1. Six of these specifically prevented or restricted individuals from obtaining employment in the Jersey Financial Services Industry.

They also tell us

1. The JFSC Investigation and Enforcement activity relies on information received from a range of sources.
2. The Whistleblowing Line continues to be a good source of information, with
   1. 21 such calls being received during 2015
   2. Of the 21 calls – 10 led to an active investigation.

  Read the report – http://bit.ly/29S1Z5h