News

As we enter September, it is worth taking a look back over the summer months to remind ourselves what has been happening down at the JFSC-Towers. Amendments to codes of practice On May 18, 2016, the JFSC published feedback on its Consultation on Amendments to Codes of Practice. These amendments seek to: ensure that all […]

July 7, 2016, saw the UK’s Financial Conduct Authority (FCA) publish fresh guidance in order to clarify the requirements which apply to the financial services firms it regulates when outsourcing to the cloud. http://www.fca.org.uk/static/fca/article-type/news/fg16-5.pdf When the FCA talks about the cloud, it is referring to the full range of cloud solutions which have evolved (such […]

FSB Examination Feedback 2015 Issued 13 May 2016 Introduction This paper sets out the summary findings from the Jersey Financial Services Commission’s (“the Commission’s”) programme of on-site examinations conducted during the calendar year 2015. The purpose, objective and process of the programme remain unchanged. For further details, please see the 2014 Summary Findings Document published at the address below. […]

The JFSC Trust Company Business Examination Feedback 2015 paper has been published (March 31st 2016) – this paper sets out the summary findings from the Jersey Financial Services Commission’s (“the Commission’s”) programme of onsite examinations conducted during the calendar year 2015. The JFSC forward the paper with the following thoughts The principal theme for 2015 […]

The inherent risk of money laundering and terrorist financing can be lower in the life insurance sector relative to some other sectors, but life companies need to be cognisant that there are products, customers and geographic regions that present a higher risk. So reads the Press Office communication just received (Tuesday 8th March 2016) from the […]

The PFS has commissioned this Good Practice Guide to help Adviser Firms develop their approach to due diligence (DD) on Discretionary Investment Managers (DIM’s) and the service they provide. The aim of this Guide is to assist member firms of all sizes address a challenging topic in an efficient and client-centric manner. This Good Practice […]

JFSC Certified Funds findings for Fund Services Business & Collective Investment Funds On the 16th June 2015, the JFSC published it’s ON-SITE EXAMINATION PROGRAM 2014 SUMMARY FINDINGS  FOR  FUND SERVICES BUSINESS & COLLECTIVE INVESTMENT FUNDS. THE FINDINGS were as follows ·         6              Internal Systems and Controls ·         7              AML/CFT ·         8              Corporate Governance ·         9              Certified […]

JFSC Internal Systems and Controls findings for Fund Services Business & Collective Investment Funds On the 16th June 2015, the JFSC published it’s ON-SITE EXAMINATION PROGRAM 2014 SUMMARY FINDINGS  FOR  FUND SERVICES BUSINESS & COLLECTIVE INVESTMENT FUNDS   THE FINDINGS were as follows   ·         6              Internal Systems and Controls   ·         7              AML/CFT              ·         8              […]