COMPLIANCE = It’s all about making it easier to do the right thing and harder to do the wrong thing To help compliance and ethics practitioners to effectively perform their role, The Red Flag Group® has devised some suggestions for compliance officers to get ahead and demonstrate that they can add value in their companies. […]
Read MoreShould Jersey ask the same questions [as the UK] about its AML and sanction regimes after the EN+ Group issue in 2018?
On the Nov 8, 2018 the Jersey Evening Post (https://jerseyeveningpost.com/news/2018/11/08/trump-sanctions-prompt-exit-of-russian-owned-businesses/) reported a story about Oleg Deripaska, a Russian oligarch and his company SANCTIONS imposed by the Trump administration have caused two Jersey-based businesses owned by one of Russia’s richest men to press ahead with plans to leave the Island. It went on to say “According […]
Read MoreJersey Royal Court considers behaviour when dealing with complaints – lessons to be learned – act (and be seen to act) objectively and impartially
SPEED READ The courts considered the arguments from the JFSC concerning integrity of an investment adviser (SWM) when they dealt with two complaints. In complaint No 1 SWM refused to re-open a compliant after being directed to do so by a 3rd party – the court stated it is not unreasonable on the part of […]
Read MoreJersey Royal Court considers record keeping (in particular due diligence) – lessons to be learned
SPEED READ On due diligence the JFSC are specifically clear on the view that centrally important part of proper due diligence is that written records be created to document the steps taken more generally the JFSC are of the view that Keeping records of operational behaviour is essential and the JFSCs views is that 1. […]
Read MoreMoney Laundering vulnerabilities in London’s Capital Markets?
London is the global leader for raising capital; Its infrastructure, people, breadth of financial services and even the GMT zone itself ensures companies and investors from around the world can intersect. It’s stock exchanges enable companies of all shapes and sizes to float and raise capital, and investors to buy shares. However, with its diverse […]
Read MoreBoE, FCA and MAS to collaborate on cybersecurity
On 13 June 2019, Bank of England (BoE), FCA and the Monetary Authority of Singapore (MAS) published a joint press release announcing their intention to work together to strengthen cybersecurity in their financial sectors. The authorities plan to enter into a memorandum of understanding (MoU) to formalise the enhanced collaboration, which will identify effective ways […]
Read MoreLeading the Way on Regulation + Sustainable business models
The following is part of a Speech delivered by Karina McTeague, Director of General Insurance and Conduct Specialists Supervision, at the British Insurance Brokers’ Association (BIBA) Conference 2019. Sustainable business models Andrew Bailey, the FCA’s Chief Executive, has previously talked about the UK having had two financial crises: the first, was prudential the second, was […]
Read MoreEmail addresses have been stolen from Community Savings Jersey and used in a phishing scam.
The charity has confirmed some of its email contacts have been ‘illegally accessed’ and that the phishing attempt has been reported to the Office of the Information Commissioner. Last Thursday afternoon, the message, titled ‘Document’, was sent to a number of email addresses previously in contact with Community Savings. The phishing email was only been sent to a […]
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