Finance Sector Development - Role
This page gives details of the role of the Finance Sector Development team
The role of the Team
- To collate and interpret data, including legislative and regulatory developments, relating to the financial services sectors in all competitor jurisdictions.
- To ascertain and report upon the relevance for the financial services sector in the Bailiwick, of new or altered business models as they are developed in competitor jurisdictions. In this respect, to commission and manage research projects that contribute to the government’s understanding of developments in offshore finance sectors around the world.
- To act as a sounding board for concerns regarding government actions or policies as expressed by different elements within the financial services sector
- In conjunction with representative bodies from the financial services sector, to pursue research on areas for developing or introducing legislation.
- To communicate and deliver research findings to relevant bodies both within the States of Guernsey and within the financial services sector.
- To act as a linking point on matters of interest to the financial services sector for other research projects that might be carried out by other Units within the Commerce and Employment Department or other bodies within the States of Guernsey.
- To act as the government’s linking point for other research projects that might be carried out by representative bodies or individuals within the financial services sector or other economic groupings within the Bailiwick.
- To evaluate States proposals for policy changes in order to analyse their likely effect on the financial services sector.
- To build and maintain a research library in respect of matters pertinent to the financial services sector.
Enhancement and coordination of the government / industry consultation process
- To assume the role of secretary to FSG.
- To make the business case to the Chief Officer and the Board of the Commerce and Employment Department for the prioritisation of proposals relating to the interests of the financial services sector.
- To coordinate the views of the various bodies of the States (FIPAG, OUR, GFL, GTA, etc.) in responding to initiatives from the financial services sector).
- To work with the heads of other Department business units to ensure that policy, strategy and legislative proposals do not conflict.
- To liaise with the Policy Council on matters relating to international affairs and how they might impact upon the well being of the financial services sector.
- To keep the Minister, Deputy Minister and members of the Board of the Commerce and Employment Department informed on matters relating to the financial services sector.