Trust Company Business On-site Examination Programme 2012 summary findings published – During 2012, the Jersey Financial Services Commission (the “Commission”) continued its programme of on-site examinations as part of its supervision of trust company businesses.

The purpose of an on-site examination is to assess a business in terms of its performance against the legislative and regulatory framework, i.e. Laws, Orders and Codes of Practice for Trust Company Business (the “TCB Codes”) and the Handbook for the Prevention and Detection of Money Laundering and the Financing of Terrorism for Financial Services Business Regulated under the Regulatory Laws (the “Handbook”).

The objective in publishing summary findings from a programme of on-site examinations is to share common findings in order that individual trust company businesses may assess where they sit in terms of meeting the requirements of the legislative and regulatory framework.

Read the full report and findings

http://www.jerseyfsc.org/pdf/TCB_2012_Examination_Feedback_June_2013.pdf