IMF visit is rescheduled

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THE assessment of Jersey’s financial regulation has been put back a week.

The International Monetary Fund team were due to arrive on Wednesday but are now due to commence their visit next Wednesday, 29 October.

Andrew Le Brun, the director of international and policy at the Jersey Financial Services Commission, said the date had changed because the IMF were using a number of outside consultants and the scheduling had to be suitable for each of them.

Mr Le Brun said there would be ten assessors in all, making up two teams of five. The in-depth examination will be divided into two parts: Measures which the Island has in place to counter money laundering and the financing of terrorism; and an assessment of the banking, insurance and securities sectors. The first part of the assessment is expected to take 12 days and the second part, which starts on 12 November, ten days.

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