Supreme Court, 26 March 2015, N°3420 In recent years, the Court of Appeal had to decide some times whether the non-compliance with certain rules of conduct resulting e.g. from the Financial Sector Law, the AML Law or certain rules of conduct by banks or other players in the financial sector could be considered as a […]

From 1 June 2015, UK-based businesses will have greater freedom to report suspicions of money-laundering without risking liability to customers, due to an amendment being introduced to UK money-laundering law. The Proceeds of Crime Act 2002 (POCA) criminalises money-laundering in the UK. A regulated business, or a person working in such a business, commits an […]

Serious Crime Bill 2014 As some readers will be aware, the House of Commons is currently considering the Serious Crime Bill 2014 (the “Bill”), which proposes amendments to various pieces of existing criminal legislation, including the Proceeds of Crime Act 2002 (“POCA”). Serious Crime Bill 2014 http://bit.ly/1upvzAj On 8 January 2015, Karen Bradley MP (Minister for […]

On June 6 2014 draft primary legislation to provide the Jersey Financial Services Commission (JFSC) with the power to impose civil financial penalties for material contraventions of the codes of practice and the Anti-money Laundering and Counter-terrorist Financing Handbook was published. Who will be affected? All entities registered under the Banking Business (Jersey) Law 1991, […]