Revision of Laws Update
14th April 2015Business development managers within industry have occasionally suggested to the Commission that new business contacts have commented to the effect that “we would love to have brought our business to the Bailiwick but could not do so because of……….”
Throughout the Revision of Laws project, Philip Nicol-Gent, the Commission’s General Counsel and project lead, has been asking representatives of the industry to identify examples of where aspects of the current legislative framework may have prevented good businesses from locating in the Bailiwick.
There may, of course, be good regulatory reasons for some of the constraints that have been identified within the legislation however the Commission is keen to receive firm examples of any perceived obstacles as there may be areas where changes have not been considered simply because no difficulties have been previously encountered.
With less than two weeks of the consultation period remaining this is a final opportunity for licensees and others within the financial services sector to ensure that their business development department is as engaged in this extremely important initiative as their compliance department.
Throughout the Revision of Laws project, Philip Nicol-Gent, the Commission’s General Counsel and project lead, has been asking representatives of the industry to identify examples of where aspects of the current legislative framework may have prevented good businesses from locating in the Bailiwick.
There may, of course, be good regulatory reasons for some of the constraints that have been identified within the legislation however the Commission is keen to receive firm examples of any perceived obstacles as there may be areas where changes have not been considered simply because no difficulties have been previously encountered.
With less than two weeks of the consultation period remaining this is a final opportunity for licensees and others within the financial services sector to ensure that their business development department is as engaged in this extremely important initiative as their compliance department.