The JFSC has written a Dear CEO aimed at advising all Compliance Officers and asking firms to note that the Commission has made amendments to the prescribed format of

• the Investment Business Employee Information Form (also known as the Template – Investment Employees and Senior Management Notification).

These amendments take effect for the submission of employee information as at 1 May 2014. The amended form is now available from the Commission website

http://www.jerseyfsc.org/investment_business/regulated_entities_employee_information/Submission_of_employee_info.asp

and the Commission requests that this form is used going forward for the submission of employee information.

The amendments have been made in order

• to enable more consistent data submissions (through use of drop down menus rather than free form cells)

and

• to enable consideration of industry compliance with the enhanced qualification requirements implemented by the Review of Financial Advice (effective from 1 January 2014).

The Commission acknowledges that the use of drop down menus limits the ability to record multiple qualifications against each Investment Employee.

In this respect, please record the qualification that holds the highest level (from a QCF perspective) relevant to the employee’s role and where necessary record a note of additional qualifications in column M.

The amended form includes a number of new columns relating to the nature of an Investment Employee’s role within the registered person. These are relevant to assess whether the qualifications held by an investment employee are appropriate to their role(s).

The guidance on completion of the form (both the comments within the spreadsheet and the Guidance Note) has also been updated.

http://www.jerseyfsc.org/pdf/Dear-CO-letter-20140430-IB-IESM-form.pdf