Andrew Crawford Norman Fleming has been sent to jail for 12 months for providing false and misleading information to Jersey’s Financial Services Fleming was sentenced at Jersey’s Royal Court today in what is being described as a landmark case. He provided the Jersey Financial Services Commission (JFSC) with false and misleading information in an attempt […]

From 23 June 2015, the Jersey Financial Services Commission (JFSC) will have the power to impose financial penalties on regulated businesses of up to £4 million, for significant and material breaches of the Codes of Practice, including contraventions of the Handbook for the Prevention and Detection of Money Laundering and the Financing of Terrorism. The […]

The 2014 amendments to the AML offences, together with the proposed revisions to the handbook, are indicative of the JFSC’s continued focus and commitment to strengthening the AML framework and ensuring that it is in line with the MoneyVal recommendations.  The sea change being ushered in is further evidence of the need to ensure that […]

  In order to comply with the regulatory regime, we would expect trust company businesses to consider the following as a minimum:-   any scheme established to mitigate tax or for any other fiscal reasons should be supported by a formal documented opinion or advice obtained from a credible, expert source; the trust company business […]

THE ACTORS Mr Antony Kurt Bryans; Mr Michael John Lezala; Mrs Michelle Clark; and Mr Pierre Humphrey Stonborough (together, the “Principals”) The Principals were, at all times, directors  of Allied Trust Company Limited and its affiliated members, namely: Allied Fiduciary Services Limited; Allied Investments Limited; and Amistoso International Corporation (together, “Allied”) 1              Introduction The Jersey […]

Last year, the Chief Minster, Senator Ian Gorst issued a statement clarifying that Jersey has no desire or need to engage with those who seek to involve the island in aggressive tax planning schemes to avoid UK tax. This approach echoes the UK Government’s commitment, recently reiterated during the General Election, that they would be […]

Anti-corruption groups and Met detectives say £180m worth of real estate is under investigation as being used in money laundering and stolen capital Hundreds of millions of pounds’ worth of UK properties held in secretive offshore companies have been used to launder the proceeds of international corruption, Scotland Yard investigators suspect. The Metropolitan police have […]

Jersey’s positive role in helping to drive forward and shape the international transparency landscape has been praised by a senior OECD tax expert at this year’s Jersey Finance Annual London Private Client Conference. Addressing an audience of more than 400 senior private client tax, trust and wealth management professionals at the event, held at 8 […]