A new scheme for greater independence for investigations into complaints against the Jersey Financial Services Commission is to be introduce...

A new scheme for greater independence for investigations into complaints against the Jersey Financial Services Commission is to be introduced. A two-tier mechanism for investigating complaints against the JFSC will be introduced. In the first instance, the JFSC itself will investigate a complaint, as presently happens. Then a second separate investigation of the complaint by an outside party will be conducted in cases where it has not proved possible to resolve the matter through the JFSC’s internal complaints procedure. Complainants must have been directly affected by an act or omission on the part of the commission or its staff and must have suffered actual inconvenience, distress or loss. The new scheme will not deal with disputes over the merits of regulatory decisions, which could be, or have been, the subject of statutory appeal.