On 1 May 2014, the EU Directive regarding the European Investigation Order in criminal matters was published in the Official Journal. The Directive is designed to replace the existing legislative framework, which has been criticised as over-complicated and ineffective. The Directive allows the judicial authorities of a Member State (the issuing State) to issue a […]

This Global Assessments’ Calendar provides an overview of planned assessments for the FATF and FATF-Style Regional Bodies (FSRBs). This is a complete list of assessments against the FATF Recommendations by the FATF, the FSRBs or the International Monetary Fund and the World Bank. This list is for information purposes only and without prejudice to the […]

The Jersey Financial Services Commission (the “Commission”) issues this public statement pursuant to Article 25 of the Law. Following an investigation into the fitness and propriety of Mr Homyard, the Commission has deemed it necessary and appropriate to issue Mr Homyard with directions under Article 23(1) of the Law. The directions prohibit him performing any […]

The FCA has fined Sesame Limited £6,031,200 (including a 30 per cent early settlement discount) for failing to ensure advice given to customers was suitable and failings in the systems and controls that governed the oversight of its appointed representatives (ARs). The penalty is made up of a £245,000 fine for breaching Principle 9 of […]

The European Securities and Markets Authority (ESMA) has approved a cooperation agreement with Jersey to ensure it can continue to deliver alternative investment funds business into Europe after the introduction of the EU Alternative Investment Fund Managers Directive (AIFMD) in July. ESMA’s Board of Supervisors approved the Memorandum of Understanding (MoU) at its 22 May […]

This notice is issued in respect of the restrictive measures directed by the Council of the European Union against Iran. 1. With the publication of the Judgment of the General Court of the European Union of 5 December 2012 in regard to Qualitest vs. Council (Case T-421/11) on 26 January 2013 (the “Judgment”), the General […]

FEEDBACK ON CONSULTATION PAPER NO. 2 2012 – 1. Consultation on the introduction of a power for the Commission to impose civil penalties for serious, uncorrected or recurring breaches of the Codes of Practice. 2. The Commission received 27 responses to the Consultation Paper, both directly and via Jersey Finance. The Commission is grateful to respondents for […]

The PRA and the FCA have separately published statements of policy on their respective approaches to investigating and reporting on regulatory failure, as required by the Financial Services Act 2012. These statements describe how the regulators will meet the new statutory requirements to investigate possible instances of their own regulatory failure and provide reports to […]