This article is Part 10 of a multi-part series explaining the recently issued white paper on data protection in India. The responses to the white paper will help in the formulation of India’s future data protection laws. You can read Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8 and Part 9. Regulating and enforcing data protection faces two […]
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Jersey changes to the JFSC Codes of Practice
The Jersey Financial Services Commission’s (the Commission) consultation paper on amendments to the Codes of Practice, which was published in July 2017, closed last week and the amendments likely to be adopted 1st quarter 2018. The expected two-month implementation window does not give regulated businesses a significant amount of time to comply with the changes. […]
Read MoreJFSC NEWS RELEASE 5 April 2017 – CODES OF PRACTICE – MINOR AMENDMENTS
JFSC – The Commission Following the recent publication of the JFSC’s amended Outsourcing Policy (click here for more information) a small number of consequential changes have been made to the Codes of Practice for: Fund Services Business General Insurance Mediation Business Investment Business Trust Company Business Deposit-taking Business Insurance Business Certified Funds The paragraphs in […]
Read More“Jersey Private Fund” (JPF).– A new regime
With the release of the Jersey Private Funds Guide (the JPF Guide), Jersey has introduced a simplification of its fund’s regime, by providing for a single Jersey private fund product, to be called the “Jersey Private Fund” (JPF). The JFSC announcement is HERE For the new JPF the following briefing, explains the eligibility criteria, structural […]
Read MoreThe growing need for a cyber “security culture” in the financial services sector – a view from the FCA
As online financial services are becoming more popular, financial institutions are facing an increasing number of organised cyber-attacks and multi-channel threats. According to a report published in February 2017, financial technology (FinTech) companies in particular are experiencing an increasing number of cyber-attacks from those taking advantage of alternative lending and payment models as well as […]
Read MoreJFSC AML New Section 14 of the Handbook – HEADS UP
The JFSC consultation paper on proposals to provide additional guidance on the application of AML/CFT requirements to funds and fund operators, together with a draft of the proposed new section 14 of the Handbook. The proposed new section does not amend any existing statutory obligations for funds or fund operators, and also provides practical guidance […]
Read MoreX3 JFSC Consultations to Crystallise in 2017 – WILL YOU BE READY?
In 2016 the JFSC issued x3 consultations, as follows, will you be ready for their application? Outsourcing + AML + Private fund consultation papers Remind yourself of what is coming….. Outsourcing consultation In July 2016 the JFSC issued a consultation paper about proposed amendments to its outsourcing policy. It aims to eliminate the confusion historically […]
Read MoreFunds and Fund Administrators Deemed “Medium-High” Risk in Irelands First AML/CTF National Risk Assessment
On 7 October 2016, the Department of Finance and the Department of Justice and Equality published the first National Risk Assessment for Ireland (NRA) on money-laundering and terrorist financing (AML/CTF). The NRA is a detailed document and reflects a key objective of the inter-governmental Financial Action Task Group (FATF) to promote effective implementation of legal, […]
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