JER States Financial Stability Board
On Sep. 20, JER States consulted on the financial stability board role.
- JER States issued consultation on proposals to improve effectiveness of the shadow financial stability board (FSB), created to provide advice on risks to financial system.
- The shadow FSB's role has been to examine the range, probability and impact of any systemic risks, identify and advise on best ways to minimize risks and fiscal impacts.
- The operation of the FSB in its current shadow basis has highlighted some practical difficulties which have limited the usefulness of the advice that the FSB can give.
- The proposals involve providing the FSB with legal gateways and duties to enable it to operate more effectively with, for example, the appropriate access to information.
- Also, appropriate interaction with relevant bodies and organisations and appropriate enshrined independence, and to allow it to continue and expand useful role for Jersey.
- The deadline for comments is Nov. 15, 2021.
JER CoC; JER States
||Bank; Fiduciary; IA; Ins; Inv Co; Pension
||CP, PR 9/20/2021; ESG
||Compliance; Financial; Legal; Research; Risk; Treasury
||Banking; Fund Mgt; Insurance; Pensions; Retirement Plan; Securities; Wealth Mgt
|Reg. Last Update
Last substantive update on 09/20/2021