The position of Chairman of the Office of the Financial Services Ombudsman is being advertised and will be the first appointment for the new body that will handle complaints about financial services in Jersey and the Bailiwick of Guernsey.
The Financial Services Ombudsman for the Channel Islands is in the process of being established by law and will have powers to investigate and determine customer complaints. It will be based in Jersey with shared staff, resources and premises, and funded by the financial services industries in both jurisdictions.
The Financial Services Ombudsman (Jersey) Law 201- was approved by Jersey’s States Assembly on 1 April 2014 and is waiting for approval from the UK Privy Council. Guernsey is in the process of drafting the Financial Services Ombudsman (Bailiwick of Guernsey) Law 201- to mirror the Jersey law as far as possible. It is hoped the Jersey law will be registered during the summer, and Guernsey’s by the end of 2014, creating the new organisation and allowing it to start preparations to open for complaints as soon as possible after that.
Jersey’s Minister for Economic Development and Guernsey’s Department of Commerce and Employment are carrying out a joint recruitment process to find a chairman initially and later other non-executive directors for the shared board. These appointments will be on a ‘shadow’ basis until the laws are registered.
Kevin Stewart, Minister of Commerce & Employment, said: “This first role of chairman will present a unique and exciting challenge in shaping the direction of a new dispute resolution service and establishing it across two jurisdictions.”
Senator Alan Maclean, Minister for Economic Development, said: “I look forward to working with our Guernsey colleagues to find a chairman for this new Ombudsman scheme which will both benefit the people of the Channel Islands and support our flagship financial services industries.”
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