On 20 January 2016 the Jersey Financial Services Commission ("JFSC") and the Channel Islands Financial Ombudsman (“CIFO”) entered into a Memorandum of Understanding that sets out the areas where they will co-operate and exchange information.

Under the Memorandum of Understanding the JFSC and CIFO will exchange, at least every six months, information relevant to past, current and potential financial complaints, the JFSC must provide details held about registered and licensed providers when requested by CIFO.  The CIFO will also notify the JFSC where it deems that it may be appropriate for JFSC to use any of its regulatory powers in relation to a licensed provider.

To view the Memorandum of Understanding entered into between the JFSC and the Channel Islands Financial Ombudsman, please click here.