The Jersey Financial Services Commission (JFSC) recently updated its AML/CFT Handbook for regulated financial services businesses (Handbook) to expressly permit evidence of identity to come from electronic sources (E-ID) as an alternative to original “wet ink” documents. Background The current version of the Handbook, which was first published on 1 January 2015, has been updated […]

Inter-governmental agreements (IGAs) aim to improve international tax compliance through domestic reporting and the automatic exchange of information. IGAs establish legal frameworks for the exchange of information between financial institutions and tax authorities in other jurisdictions. Foreign Account Tax Compliance Act (FATCA) FATCA requires financial institutions outside the USA to report information on financial accounts […]