Speed read Standard Bank Jersey Limited was found guilty in the Jersey Royal Court after it admitted allowing a woman to use her deceased partner’s bank account to pay her rent and shopping bills. Standard Bank Jersey Limited was sentenced for allowing the woman to access the account – which it accepted should have been […]

  You may be interested in the publication of the JFSC Feedback Paper on Consultation Paper No. 10 2018 (Part 1) – Amendments to Codes of Practice.  This feedback paper relates to a consultation on proposals regarding maintenance amendments, amendments to address regulatory concerns and to ensure compliance with international regulatory standards and consideration of […]

The JFSC and the Jersey government have issued a joint Dear CEO statement on Brexit [8 February 2019]. You can read it here  also you can find a version below. This letter highlights the following matters:- Information and resources Jersey’s financial services Data flows EU Nationals Other Government departments Expectations of firms Introduction No Deal […]

The JFSC has issued consultation on proposals regarding enhancements to the investment business regime.  With the exception of a proposal to introduce protection for vulnerable investors, the JFSC considers none of the enhancements to exceed the requirements of equivalent and proximal regulatory regimes such as the FCA requirements or MiFID II. Why The rationale for each […]

This paper provides an overview of findings from the JFSC’s themed programme of on-site examinations on the subject of Enhanced and Simplified Due Diligence, which were conducted by the JFSC in 2016 and 2017. This comprised of two phases; the first spanned eight banks between September and December 2016, whilst the second covered six Trust […]

The JFSC held a CTF update on Wednesday 7 September 2016 at the Town Hall – The title of the session was:   The Risk of Terrorist Abuse in the NPO Sector The event covered the main ways that the non-profit organisation sector can be abused by terrorists, including: why and how NPOs may be […]

The commission has issued feedback on the consultation paper regarding the amendments to the codes. See link attached: http://bit.ly/1Tj2uIg  

On 22 February, the Jersey Financial Services Commission (JFSC) issued a Dear CEO letter to highlight the growing importance of cybersecurity arrangements and the Commission’s expectations of registered persons in this regard. http://bit.ly/1VBkOsP  Although the Commission has not developed its own principles and/or guidance, it is expected that registered persons will take appropriate steps to […]