Jersey Companies Registry Receives Innovation Award
by Jason Gorringe, Lowtax.net, London
01 August, 2014
The International Association of Commercial Administrators, the leading global forum for international registries, has presented Jersey's Companies Registry with an award for "outstanding achievement in secured transaction registry innovation."
IACA's membership comprises the official business registries of the US, Canada, and other jurisdictions. It is the only registry forum which sets standards and shares system innovations with regard to secure transactions.
Jersey received the award due to the launch of its Security Interests Register in January, which is a fully online register of security interests developed by the Jersey Companies Registry following extensive consultation with the finance industry. Jersey collaborated with other international registries during the planning and development of the new register. It makes available a public register of security interests in Jersey for the first time.
Julian Lamb, Director of the Jersey Companies Registry, part of the Financial Services Commission, said: "The award is especially welcome because it is given by our peers within the regulatory industry worldwide and highlights that Jersey remains at the forefront of regulatory developments in financial services. We are ahead of most other jurisdictions, with the scope and features of our online Security Interests Register, which also makes financing statements accessible to the public. It has been well received by the industry in its first few months and resonates well with the increasing global drive for greater transparency in financial services."
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