The Jersey Financial Services Commission (JFSC) has today announced the appointment of a new Commissioner to its Board. Tracy Garrad will be sworn in by the Royal Court for a five year term on Friday 8 February. A former Chief Executive Officer (CEO) of HSBC Channel lslands and Isle of Man, Tracy’s career spans 14 […]

The Jersey Financial Services Commission (JFSC) and the Joint Financial Crimes Unit (JFCU) have today issued a warning to Islanders and businesses following authorities receiving reports of intimidating ransom emails, where the recipient or their family’s lives are threatened. The emails are likely to be fraudulent and are threatening that people need to make a Bitcoin payment in […]

The Jersey Financial Services Commission (JFSC) has launched a review into whether Jersey firms hold adequate Professional Indemnity Insurance (PII). The review, which begins this week, follows several recent supervisory cases that have raised concerns about the suitability of companies’ PII cover and the level of understanding that senior management have about the terms of […]

THE 8 SHARED BUSINES RISK The Jersey Financial Services Commission (JFSC) and Industry agree that the following pose the most severe of the different risks facing companies in Jersey with financial crime risks being the most severe risks. Terrorist funding and Secondarily financial crime more generally Other risks cited included Financial failure, loss of confidential […]

ON the 19th July the JFSC issues a Press Release as follows The Jersey Financial Services Commission (JFSC) welcomes the recommendation that the European Securities and Markets Authority (ESMA) has today made to the European Parliament, Council and Commission, that Jersey should be amongst those ‘third countries’ granted an AIFMD passport. The JFSC has fully […]

The Jersey Financial Services Commission (JFSC) has today issued a warning regarding non-regulated investments, part of its statutory duty in seeking to reduce the risk of financial loss to the investing public. In the current prolonged low interest rate environment, consumers with money to invest can be tempted by products which appear to offer a […]

The Jersey Financial Services Commission (JFSC) issues this Press Statement in respect of the recent Royal Court Judgment dated 11 May 2016, which made a procedural ruling following proceedings in November 2015 involving SWM Limited (SWM). Whilst respecting the decision of the Royal Court, the JFSC wishes to clarify its stance in the context of […]

JFSC  PRESS RELEASE, 10 MAY 2016 Since the initial publication of the Panama Papers, the Jersey Financial Services Commission (JFSC) has been closely monitoring developments and any relevant connections between Jersey financial services practitioners and the Panamanian firm Mossack Fonseca or any other subject material that has so far emerged into the public domain from […]