The word “consent” was mentioned so many times that one could have mistaken it for being a gala convention of feminists. Except it was, in fact, the government’s first public consultation on their promised and incoming data protection legislation, which hopes to quell the criticism on Aadhaar and the enforcement of India’s right to privacy. […]

The FCA has published a guidance consultation and thematic review report (GC15/1) entitled “Risks to customers from performance management at firms: Thematic review and guidance for firms”. The guidance aims to help firms manage the risk of conflicts of interest, where workers have to balance objectives linked to sales results with other objectives, such as […]

The Basel Committee on Banking Supervision (BCBS) has published a consultation on revised guidelines for corporate governance at banks which build on the BCBS principles for enhancing corporate governance. The revised guidelines aim to provide a framework in which banks should operate to achieve robust and transparent risk management, and promote public confidence in the […]

The FCA has published guidance to support firms seeking to provide simplified advice or sales without a recommendation. The guidance, which incorporates and replaces previous guidance, has been issued following ongoing FCA policy work and a thematic review into the growth of new advice models, including simplified advice.  In particular, the FCA provides advice for […]

The Jersey Financial Services Commission (the “Commission”) has issued a Consultation Paper on draft primary legislation to provide it with the power to impose civil financial penalties on regulated businesses that contravene regulatory requirements set by Commission Codes of Practice. The Consultation Paper, including the draft amending legislation, can be viewed on the Commission’s website […]

Further to Hamish Armstrong (JFSC Senior Manager, Financial Crime) recent notice to regulated entities in Jersey concerning the upcoming consultation on further amendments to the Money Laundering Order 2008, he has advised there will also be a separate consultation paper setting out proposed amendments to the ”tipping off” provisions of the SAR reporting regime.

The JFSC has published Feedback [ISSUED AUGUST 2013] on a consultation relating to the possible amendment of Jersey’s regime in relation to the regulation of the activities of those involved in the management of managed accounts. background Industry has been concerned for some time that the way in which the business of managing a managed […]

The legislative framework for DPAs can now be found in Schedule 17 to the Crime and Courts Act 2013 passed on 25 April 2013. Whilst a date has yet to be set for these provisions to come into force, the Serious Fraud Office expects DPAs to be available from February 2014. To this end, three […]