In a recent Jersey appeal case the Court was of the view that the investment profession might well benefit from further guidance from the JFSC on “Commissions”[or Receiving prohibited third-party payments] The court did however, and for the avoidance of doubt, makes it clear that if an investment adviser were to receive a fee for […]

Following the Money Laundering (Amendment No.10) (Jersey) Order 2019 coming into effect on 12 June 2019, https://www.jerseylaw.je/laws/enacted/Pages/RO-041-2019.aspx the following amendments should be noted:- Amendment of Money Laundering (Jersey) Order 2008 Article 1 (interpretation) amended Article 3 (meaning of “customer due diligence measures”) amended Article 10A (financial services business carried on outside Jersey) amended Article 11 […]

The JFSC consultation paper on proposals to provide additional guidance on the application of AML/CFT requirements to funds and fund operators, together with a draft of the proposed new section 14 of the Handbook. The proposed new section does not amend any existing statutory obligations for funds or fund operators, and also provides practical guidance […]

JFSC AML/CFT Handbooks: Appendix D1 and D2 updated November 30 Links to the latest documents are here http://www.jerseyfsc.org/pdf/Part-1-Appendix-D1-AML-Handbook.pdf http://www.jerseyfsc.org/pdf/Part-1-Appendix-D2-AML-Handbook.pdf http://www.jerseyfsc.org/pdf/Part-1-Appendix-D2-amendments-30-November-2016.pdf

JFSC AML HANDBOOK Appendix D2 amendments – 27 April 2015: Source 1 removed: Indonesia / Source 2 added: Indonesia http://bit.ly/1GmuNug

The following notes provide an update/review of 2014 amendments to substantive offences under Proceeds of Crime Law and AML handbook Background In December 2013 MoneyVal issued a report which picks up from the 2008 International Monetary Fund (IMF) report and sets out the progress that Jersey has made following the IMF’s recommendations. MoneyVal is the […]

JFSC AML Handbook Appendix D2 amendments – 9 March 2015: 1.       Source 2 removed: ·         Albania ·         Cambodia ·         Kuwait ·         Namibia ·         Nicaragua ·         Pakistan ·         Zimbabwe http://bit.ly/1GmuNug

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