The Jersey Financial Services Commission (the “Commission”) issues this public statement pursuant to Article 25 of the FS(J)L. Introduction 1.1.         STM Jersey is presently authorised by the Commission to conduct Trust Company Business as defined in the FS(J)L. Following concerns over compliance by STM Jersey, through the conduct of one of its principals, with applicable […]

Failing to file a Suspicious Activity Report Background In the first prosecution of its kind in Jersey, the Royal Court has acquitted Michelle Jardine (represented by Advocate Nuno Santos-Costa) and STM Fiduciaire Ltd (represented by Advocate David Steenson) of charges under the Proceeds of Crime (Jersey) Law 1999 (POCA). This is the first time anyone […]

Introduction In the first prosecution of its kind in Jersey, the Royal Court has acquitted Michelle Jardine (represented by Advocate Nuno Santos-Costa) and STM Fiduciaire Limited (“STM”) (represented by Advocate David Steenson) of charges under the Proceeds of Crime (Jersey) Law 1999 (POCA). Lasting for four days, the result of this trial should give a […]

In the first prosecution of its kind in Jersey, the Royal Court has acquitted Michelle Jardine (represented by Advocate Nuno Santos-Costa) and STM Fiduciaire Limited (“STM”) (represented by Advocate David Steenson) of charges under the Proceeds of Crime (Jersey) Law 1999 (POCA).  Lasting for four days, the result of this trial should give a measure […]

In February 2015 the JFSC offered a Statement of Support in relation to the adoption of the AIC Code by Jersey-domiciled investment companies. In doing so it stated the following The Commission welcomes the AIC Code of Corporate Governance and commends it to Jersey-domiciled investment companies as one of the tools available to them to […]

There is no specific model for corporate governance that must be applied to Jersey-based investment funds. Codes of practice issued (or to be issued shortly) by the Jersey Financial Services Commission (JFSC) (the Jersey codes) require that both a Jersey-regulated corporate fund and a Jersey-based fund service provider (for example, manager, administrator, custodian) must have […]

The Jersey Financial Services Commission (JFSC) has published its Annual Report and financial statements for 2014. The Annual Report acknowledges how changes in the regulation and structure of financial markets have shaped the JFSC over the past year. During 2014 the Commission also set out on a change programme to anticipate and manage new challenges […]

The Commission has today published the following JFSC Consultation Paper: Miscellaneous Amendments to Regulatory Legislation The paper can be downloaded from our website at http://bit.ly/1yRvd6o