The Financial Stability Board (FSB) has published a peer review of the implementation of the G20/Organisation for Economic Co-operation and Development (OECD) principles of corporate governance for publicly listed, regulated financial institutions. The peer review found that all FSB member jurisdictions have a comprehensive corporate governance framework, but that the effectiveness of those frameworks could […]

The JFSC FSB/NDF notification form has been revised to include an additional question under new paragraph A.8 as follows “Is the Fund an AIF, within the meaning given in Directive 2011/61/EU?”. The revised document is available to from the following pages of the Commission’s website: All Commission Forms page or the Fund Services Business Forms page.

The Funds Supervision Team has introduced a fund services business (“FSB”) Annual Compliance Return which requests information on the registered person’s business on an annual basis, bringing it into line with other sectors. http://www.jerseyfsc.org/word/FSB-Annual-Compliance-Return-September-2015.doc The information contained in the form will be used to assist our supervision of FSBs. The form should be completed by […]

FSB helping Mauritian, Guernsey regulators probe Kellermann following his alleged involvement in irregularities tied to Belvedere Management. South Africa’s Financial Services Board said it’s helping regulators in Mauritius and Guernsey investigate the affairs of Cobus Kellermann, a Cape Town-based money manager. “The regulators in the foreign jurisdictions have asked us to assist them in tracking […]

The JFSC have issued an update to Part 4: Section 1 Handbook for regulated financial services businesses [Effective from: 26 February 2015] in regards to the Proceeds of Crime (Jersey) Law 1999 – Schedule 2 (Article 36(1) and (2)) – Financial Services Business http://bit.ly/1DgEPKx

The Financial Stability Board (FSB) has published two papers designed to assist supervisors in enhancing risk management practices at financial institutions: • Principles for an effective risk appetite framework. Following comments received to an earlier consultation the principles have been revised. Respondents were generally supportive of the overall direction of the draft principles, however, they sought […]