Speaking at the Association’s annual dinner Julie Coward said the industry was ‘nervous’ about who might take over the leadership of the Island’s regulatory body, the Jersey Financial Services Commission, following the retirement of David Carse in the autumn.
Basel Trust Company managing director Mrs Coward said the past year had seen great improvements, including the introduction of the new Protected Cell Company legislation and, after eight years of lobbying, important amendments to the Trust Law.
But there was, she said, ‘a tendency to punish many for the sins of a few’ when what the industry needed was balanced and co-operative regulation, ‘not too prescriptive and implemented with a soft touch’.
