The slides for the Financial Sanctions – recent developments presentation at the Town Hall are now accessible from the Commission Website.  Please click BELOW to access the slides.   https://www.jerseyfsc.org/pdf/2017-06-28-Town-Hall-Sanctions-Recent-Developments.pdf

The Jersey Financial Services Commission (JFSC) has today published its Annual Report and financial statements for 2016. The Report documents how the JFSC has performed against its strategic objectives for the year, which in 2016 predominantly focused on facilitating access to international financial markets for Jersey, matching international standards, meeting legal and other requirements, and […]

The Jersey Financial Services Commission (JFSC) has today published its Annual Report and financial statements for 2016, and in section 5 of the report, they provided their key visit findings summary. This summary is repeated below:- Key Visit Findings Summary The Supervision division Undertook 25 examinations in 2016. The visits covered the whole Industry including […]

The Jersey Financial Services Commission (JFSC) has today published its Annual Report and financial statements for 2016, and in section 5 of the report, they provided their ENFORCEMENT OVERVIEW summary. This summary is repeated below:- The Enforcement division investigates cases where Registered Persons or individuals associated with them have committed or potentially committed a legal […]

Feedback on Consultation Paper + Amendment to the definition of Class O Financial Service Business – No. 7 2016 Feedback to a consultation on proposals to amend the definition of Class O to: › clarify and amend the ultimate beneficial ownership element of the criteria to whom Class O services can be offered; › provide […]

Jersey Court will not assist those who have failed accurately to disclose beneficial ownership interests to the financial services regulator. The following case and judgement shows the Jersey Court will not use its equitable jurisdiction to assist those who have failed accurately to disclose beneficial ownership interests to the financial services regulator. The case: (Al […]

The Jersey Financial Services Commission will be holding a Directors’ Cyber Security Masterclass on Thursday 9 March, in partnership with The Security Awareness Special Interest Group (SASIG), to brief industry on the real nature of the cyber threat to the Island, and the first steps firms should be taking to defend their organisations. High-profile cyber […]

W-v-JFSC [2016] JRC 231A [W V JFSC] is another example of a successful challenge to the regulator’s actions. In this case, the failure to provide reasons for the decision to issue a public statement was not only deemed unreasonable but also a breach of the law. The Royal Court held that the JFSC should provide […]