The changes to the Regulatory Laws, which are designed to counter money laundering and the financing of terrorism, constitute routine maintenance of the legislation that provides the JFSC with powers to supervise financial services firms, and various other businesses. Risk Data Industry Seminar. Our Magazines View more. The Nature of Compliance. Click here to register your Interest.
The Consultation sought input on the automatic updating post incorporation of changes in company beneficial ownership and control and the introduction of a public central register of directors. It is anticipated that we will see further amendments as jurisdictions confirm their intentions. You can update your preferences at any time by registering for a blglobal. Do you have a Question or Comment? Jersey Funds Association – Regulatory Update. Business Plan 19 September Presentation slides: Application of enhanced CDD measures.
The Order amended Schedules 2, 3 and 4 of the Jersey Common Reporting Standard regulations, which provide details of the jurisdictions committed to the adoption of CRS.
So far 21 countries have signed a Multilateral Competent Authority Agreement for the automatic exchange of country by country reports. Events from this Firm. The Nature of Compliance.
Click here to lpan your Interest. That can only be realised if regulator, government and bksiness work together. This is in pllan with continuing efforts to boost transparency, and the OECD proposes to put in place an international framework through a multilateral instrument. The Consultation closes on 22 April In giving its reasons for setting aside transfers into a Jersey trust on grounds of mistake, the Royal Court of Jersey has provided a helpful distinction between the law of mistake as it is applies in Jersey as against its English law counterpart It is anticipated that we will see further amendments as jurisdictions confirm their intentions.
A letter sent by the Chief Ministers of Jersey and Guernsey to the European Parliament ahead of the meetings is available and recordings of the meetings can be found on the European Parliament’s website. Financial Crime and Compliance.
The JFSC promises to embrace an increasingly risk-based methodology jfsf adopt an entity-based, as opposed to licence-based, supervisory model. Cyber-security expectations for regulated persons On 22 Februarythe JFSC published a ‘Dear CEO’ letter, seeking to outline the “growing importance of cyber-security arrangement and the Commission’s expectations of registered persons”.
Enhanced Due Diligence ‘Refresher Session’. Beneficial Ownership and Control. Presentation to Jersey branch of the PFS: Do jfec have a Question or Comment?
JFSC – Business Plans
One of our statutory objectives is to pursue the best economic interests of the island and I believe the only way this can be achieved is by enhancing our reputation as a well-regulated jurisdiction. The key findings included: Risk-based Regulation in Action.
An Overview 15 November Presentation slides: More from this Author. Hot Bueiness E-ID and virtual currency exchanges. Introduction of country by country reporting. Food, Drugs, Healthcare, Life Sciences. You can update your preferences at any time by registering for a blglobal. Regulatory Update for Estate Agents in Jersey. The Response confirms amongst other matters the list of companies that busineess not be required to keep a register, how ‘extent of control’ will be recorded, the fixed fee for searches, the regime for excluded information, the position where foreign limited partnerships hold shares or rights in a UK company and the new test for ‘significant control of an LLP’.
Fundamentals of Terrorist Financing. These are not ‘approved forms’ and are intended only ‘to illustrate how financial institutions may consider plab customer information from their account holders’. Application of simplified identification measures 25 November Presentation slides: Media, Telecoms, IT, Entertainment.
Mid-year Review – Risk-based Regulation in 0214. Please be advised that the volume of Business News articles which we publish is fairly high and you should expect to receive an email most days.