“I am in trouble, please, send me money,” hackers swindle people trouble – “I have been robbed at the airport in London, please, send me 1,450 pounds to get back home!,” reads an e-mail which was sent to over 400 friends of the chair of the Center of NGOs in the town of Razgrad Georgi […]

Purpose Codes of Practice for Certified Funds – The Codes of Practice for Certified Funds (the “Certified Funds Codes”) became effective on 2 April 2012. The Certified Funds Codes can be viewed on the Commission’s Website at www.jerseyfsc.org Contrary to a recent press report, the purpose of the Certified Funds Codes is two-fold. The first […]

JFSC Dear CEO results of Securities & Funds fund on-site examinations 2010 – Jersey Financial Services Commission (the “Commission”) – This letter summarises the results of our fund on-site examinations made over the last year, the key findings and our on-site examination themes in the coming year. It also addresses the major objectives facing the […]

The FSA consults on changes to the approved persons’ regime to improve corporate governance. On 28 January 2010, the FSA published a consultation paper entitled: “Effective corporate governance (Significant influence controlled functions and the Walker review)” (CP10/3). The FSA’s proposals reflect its ongoing work on governance in regulated firms and address a number of the […]

Islamic finance and ensuring the agreement is upheld in the event of a dispute – what should investors or other parties to an agreement with an Islamic finance institution do to ensure that the agreement is upheld in the event of a dispute? They should: ensure they obtain and fully review the constitutional documents of […]

On 19 May 2010, the FSA published a press release announcing that, with the assistance of the City of London Police, it has carried out searches at an address in East London and that a man aged 39 has been arrested in relation to allegations of insider dealing. The FSA has not provided any further […]

MLROs should treat domestic PEPs the same as foreign ones, says FSA – Firms should treat domestic politically exposed persons in much the same way they treat foreign PEPs, the Financial Services Authority told money laundering reporting officers yesterday. HM Treasury also told the MLROs that it was thinking about extending the time limit that […]

A former hedge fund trader pleaded guilty to insider dealing yesterday in a landmark deal under which he may testify against his suspected co-conspirators, if they are charged, in the hope of receiving a lighter sentence. Anjam Ahmad, 39, who worked at AKO Capital, is the first person to strike a plea deal with the […]