Representatives of the Commission met today in Sark with representatives of Sark’s Chief Pleas. The meeting had been arranged to enable the Commission to provide updates on a variety of regulatory matters including the recent introduction of pensions’ regulation, the Commission’s experience of innovation within the financial services industry and the Commission’s general approach to investigations and enforcement. The Commission is the unitary financial services regulator of the Bailiwick, interested in the conduct of the financial services sector on all the islands of the Bailiwick.
While the Commission does, from time to time, carry out investigations about individuals and entities based in Sark (as it does in other Bailiwick islands), this meeting afforded the opportunity for discussions on broader topics.
Speaking after the event, the Commission’s Director General, William Mason said: "We value our good working relationship with Sark’s Chief Pleas. We have had cause to work closely with its representatives when investigating financial services matters in Sark and we are grateful for the support that we always receive from Sark’s government. Higher level meetings, such as we had today, are helpful in both maintaining our good working relationship while at the same time facilitating a healthy exchange of views on wider matters of mutual interest."