News

Guide to money laundering estate agents 17 Oct 2012 it is up to the individual estate agents to decide how to carry out a risk assessment that is appropriate to their business. Estate agents should ‘…assess risk in the context of how their business may be used by those involved in money laundering and terrorist […]

Focused on FSA authorisation – Meeting the complex requirements – What is the process for authorisation? Applying for authorisation from the Financial Services Authority (‘FSA’) is a significant undertaking and should be treated as a major project in its own right, with appropriate project management and dedicated resources. The information the new firm will need […]

Risk profiling: what are the options? In the past few years there has been a trend among financial advisers away from in-house investment selection towards using outsourced risk-targeted funds in model portfolios to satisfy clients’ asset allocation and investment needs. A recent survey by NMG Consulting showed that advisers are using a range of methods […]

Quality control: can small firms keep compliance in-house? As regulatory demands on advisers intensify, Maria Merricks finds out whether it is realistic for smaller businesses to take care of their own compliance affairs. The biggest regulatory overhaul ever seen in the financial advice industry, the Retail Distribution Review (RDR) has led the majority of advisers […]

Fresh warning over adviser reliance on risk tools – Research company report on Skandia range cautions against sole use of provider tools one year after FSA paper highlights issue. Research agency Rayner Spencer Mills this morning (16 April) issued a report that warns advisers against an over reliance on risk profiling tools in order to […]

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 […]

Document retention in England and Wales: law, practice and cross-border issues – In recent times a number of high profile cases have demonstrated in stark terms that a failure to manage documents properly can have far reaching and serious consequences. Perhaps most famously, Arthur Andersen, then one of the world’s largest accountancy firms, collapsed in […]

The JFSC has written to all Chief Executives (or equivalent) of all persons registered to conduct fund services business under the Financial Services (Jersey) Law 1998. The JFSC letter summarises the results of the supervision visits made over the last year (2009), the key findings, and our themes for supervisory visits in the coming year. […]