As at June 2015 The Jersey Financial Services Commission now has had the power to impose civil financial penalties for significant and material contraventions of the Codes of Practice and the AML/CFT Handbook. The level of fines has been set and the JFSC has published a statement on the principles and processes it will adopt […]

You may be interested in what John Everett, Director of Funds and Fiduciary said at the STEP Jersey’s 23rd Annual International Conference on Thursday 5th November 2015 on the BRA as well as many other AML matters: BRA We do think that a firm’s Business Risk Assessment is a key tool in the fight against […]

Jersey Financial Services Commission issue a Public Statement HSBC Bank Middle East Limited (“HBME” or “the Bank”) Banking Business (Jersey) Law 1991, as amended (the “Banking Law”) Action 1.1.         The Jersey Financial Services Commission (the “Commission”) issues this public statement under Article 48(2) of the Banking Law. 1.2.         This action supports the Commission’s objectives of […]

The Jersey Financial Services Commission (JFSC) has today issued a Public Statement in relation to Equity Trust (Jersey) Limited (Equity) concerning  its role as trustee to two Jersey non-charitable purpose trusts (FSTs) and as former trustee of three collective investment funds (Funds) investing in undeveloped property in Bulgaria, Croatia and Montenegro. Following the JFSC’s Application […]