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 […]

The Joint Money Laundering Steering Group (JMLSG) has today published its proposed amendments to its Money Laundering Guidance as a result of its three-month long industry consultation. The proposed amendments include the following changes: • increased reference to international expectations; • references to the revised Financial Action Task Force recommendations relating to a risk-based approach; and • changes […]

The International Association of Insurance Superviors (IAIS) has released a revision of ICP 22: anti-money laundering and combating the financing of terrorism (AML/CFT) for public consultation. The financial crime working group reviewed ICP 22 in light of the Financial Action Task Force’s (FATF) revision of its recommendations and methodology The main changes to the ICP […]

Further to the Press Release issued on 31 May 2013, the Commission has published its Consultation Paper on the AIFMD regime which is available on the Commission’s Website Responses to the Consultation Papers should be submitted to the Commission by 8 July 2013. Read more http://www.jerseyfsc.org/the_commission/general_information/press_releases/release297.asp and- http://www.jerseyfsc.org/pdf/Position_Paper_No_1_2013_RFA.pdf

10TH May 2013 the Jersey Financial Services Commission (the “Commission”) has issued a Consultation Paper on proposals to amend provisions dealing with enhanced and simplified customer due diligence.  The Paper consults on legislation to amend the Money Laundering (Jersey) Order 2008 following publication of a consultation paper in November 2011 and a feedback paper in […]