ON Thursday 02 April, 2015 the following Update on Holding in Co – STM Fiduciaire – AGM [RNS Number : 2457J] was recorded In 2012 the Jersey Financial Services Commission (“the Regulator”) undertook an investigation into compliance procedures at STM Fiduciaire. The investigation concluded that STM Fiduciaire had acted swiftly to address the perceived failings […]

In Nolan v Minerva Jersey’s Royal Court held a trust company liable to compensate the victims of their client who had defrauded them even though that company did not carry out the actual frauds. Because it handled the proceeds of the fraud the Court decided it had dishonestly assisted a breach… Click on the link […]

MoneyVal The aim of MoneyVal is to ensure that member states have in place effective systems to counter money laundering and terrorist financing and comply with the relevant international standards in these fields. MoneyVal assesses its members’ compliance with all relevant international standards in the legal, financial and law enforcement sectors through a peer review […]

The following statement has been issued by the JFSC on 20th March 2015 1.       Innovative technology – Technology now offers the possibility of collecting information and obtaining evidence of an individual’s identity in new and different ways. 2.       Accordingly, the Jersey Financial Services Commission (JFSC) has started to consider what additional guidance may be needed […]

The Jersey Financial Services Commission operates as the U.K. channel island’s financial regulator. John Harris, its director general, spoke to Risk & Compliance Journal on a variety of topics, from bank de-risking to fighting the perception of being a tax haven. The conversation has been edited for clarity. What is the Jersey Financial Services Commission’s […]

HSBC is closing all accounts on Jersey belonging to customers living in the UK. It is part of a move by UK banks carrying out checks on the identity and addresses of thousands of their customers on the Channel Islands. HSBC is among those carrying out the move, according to documents seen by BBC News. […]

The Jersey Financial Services Commission (the “Commission”) issues this public statement under Article 25 of the Financial Services Law. This action supports the Commission’s objectives of reducing the risk to the public of financial loss and protecting and enhancing the reputation and integrity of Jersey in Commercial and financial matters. This public statement serves to […]

It was reported in the JEP on 09/03/2015 that – MORE than 20 major fraud cases involving millions of pounds being allegedly laundered through Jersey banks by people from all over the world are being actively investigated by financial crime detectives, the States police have revealed. The operations department of the Joint Financial Crimes Unit […]