1. Fiscal Pressures on Registries to
Perform
Julian Lamb

2. Objective of Presentation

3. Jersey Companies Registry
• The Jersey Financial Services Commission is responsible for the regulation,
supervision and the development of the financial services industry in the
Island.
• The Commission is a statutory body corporate, set up under the Financial
Services Commission (Jersey) Law 1998. The Law provides for a Board of
Commissioners to be the governing body of the Commission.
• The Law established the Commission as an independent body, fully
responsible for its own regulatory decisions. The Commission is
accountable for its overall performance to the States of Jersey (the
Government of Jersey) through the Economic Development Department.
• The Commission is also responsible for appointing a person(s) to exercise
certain statutory responsibilities as the Registrar of…….
• The Commission has appointed the Director General of the Commission as
the Registrar.

4. Registrar of
• Companies – as at 31.12.12: 32,798
• Limited Partnerships
• Limited Liability Partnerships
• Incorporated Limited Partnerships
• Separate Limited Partnerships
• Business Names
• Foundations

5. Provision of Registers
• Trademarks
• Security Interests Register
• Unregulated Funds
• Authorized Auditors

6. Jurisdictions

7. Jersey
Initiatives:
• Drive to provide 100% online services;
• Investment Management Committee;
• Work smarter with improved efficiency as
well as improved effectiveness;
• Changed employee mix;
• Better educated industry.

8. Utah – United States
Initiatives:
• Four day week;
• Improved online filing, $ 48 million savings;
• 100% up take on UCC filings;
• 90% business search usage;
• 52% new business filings online;
• Change in employee mix => customer
service/support.

9. Companies House – United
Kingdom
Initiatives:
• Driving efficiency - ;cost per company on
the register has reduced from £18.99 in
2008/9 to £13.68 in 2012/13;
• Driving digital take up and expanding
digital services;
• Making life easier for companies to meet
their obligations through better service;
• Reducing fees.

10. Nova Scotia - Canada
Initiatives:
• Investment in new technology;
• “Take work out of the system”;
• Replace aging systems – new system more
responsive to change thus more economical
to operate;
• Removal of “e-pretend”

11. Netherlands
Initiatives:
• Abolition of set fees, government funding
from 1.1.13;
• On-line registration of Notaries;
• Merger of Chamber offices;
• Reduction of employee numbers.

12. Summary
Trends
• Reduction in human resource;
• Increased automation;
• Smarter systems
• Efficiency vs effectiveness
• Customer centric.

13. Questions

14. Thank You