Finance body gets right to fine rule breaking companies

The body that oversees the finance industry in Jersey will be given the right to fine companies that do not follow its rules.

The International Monetary Fund recommended that the Jersey Financial Services Commission should be able to give fines for breaching regulations.

Jersey's Economic Development Minister, Senator Alan Maclean, made the announcement in the States of Jersey.

He said the commission was working out how the penalties would work.

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