Further to the story published in today's edition of The Daily Telegraph regarding HSBC accounts in Jersey, Geoff Cook, CEO of Jersey Finance, said:

"This is a serious matter and we note HSBC's immediate commitment to co-operating with any investigations carried out by the relevant authorities and welcome the clear position taken by the JFSC, that any failure to adhere to Jersey's clear standards will be robustly investigated and acted upon.

Jersey is a well-regulated international finance centre with a strong track record in compliance with international standards. The swift and thorough investigation of this matter will further demonstrate Jersey's ongoing commitment to those standards."