Good morning, the JFSC have issued their findings on “Client Assets”, please see summary below. WHAT IS THIS ALL ABOUT? As communicated in November 2017, the JFSC set out in high level terms its planned thematic examination programme for the first half of 2018, to be undertaken by the JFSC’s Supervision Examination Unit (SEU). (SEE […]

The JFSC Guidance Note Natural Persons carrying on a Single Class of Trust Company Business and noticed it was Last revised: 1 August 2018 https://www.jerseyfsc.org/media/2109/2018-07-17-gn-natural-persons-carrying-on-a-single-class-of-tcb.pdf  

Please note the JFSC “UPDATE-CHANGE” to its Sound Business Practice Policy [2 August 2018], obviously the list of activities should be on every administrators mind when thinking about risk and this may be a good time to remind them. INTRO The JFSC Sound Business Practice Policy is designed to highlight business that has the potential […]

The Jersey Financial Services Commission (JFSC) has today issued a guidance note containing information about our approach to ICO activity. ICOs are a digital way of raising funds from the public using distributed ledger technology. The guidance note details the JFSC’s approach to businesses that wish to launch an ICO in Jersey. The note sits […]

  Please note the Important Update on Phase II of the JFSC Supervisory Risk Data Collection Exercise – 28 June 2018 The JFSC has advised that the Phase II risk data exercise will no longer commence next week, the week starting 2 July 2018.  Likewise, the Phase II risk data will not be required to be […]

  The Jersey Financial Services Commission (JFSC) is currently involved in two heavily interlinked projects requiring the submission of risk data from Industry; (i) the JFSC Supervisory Risk Data Collection Exercise (risk data exercise) and the National Risk Assessment (NRA). To be clear risk data will be captured once and used in two projects. The […]

This paper provides an overview of findings from the JFSC’s themed programme of on-site examinations on the subject of Enhanced and Simplified Due Diligence, which were conducted by the JFSC in 2016 and 2017. This comprised of two phases; the first spanned eight banks between September and December 2016, whilst the second covered six Trust […]

Data for Risk Based Supervision The Jersey Financial Services Commission (JFSC) on the 9th August published a consultation paper on Data for Risk Based Supervision. These proposals will, in time, impact all Affected Businesses – those that are subject to the Money Laundering (Jersey) Order 2008 because they conduct financial services business in Jersey or are […]