The Jersey Financial Services Commission warn that they will be taking a new approach ‘to encourage industry to meet their submission deadlines’.
Reminder letters will be sent three weeks before the deadline, but if the statements have not been received one week after the deadline another letter will be sent advising the business that it is in breach of the regulations.
If nothing has been received four weeks after the deadline, action will be taken which could include referral to the Attorney General, possible prosecution, and fining.
