Civil Liability for Breaches of the JFSC codes On 20 February 2015, the Financial Services Commission (Amendment No. 6) (Jersey) Law 2015 was registered (Amendment Law). The Amendment Law makes changes to the Financial Services Commission (Jersey) Law 1998 to include Provisions to enable the Jersey Financial Services Commission to impose civil financial penalties for material […]

Chief Minister, Ian Gorst, has told Ed Miliband he was disappointed to read his statement in the papers earlier this month. UK Labour leader Ed Miliband’s threatened that if his party is voted into power in the next elections, he will give British tax havens six months to open their books. Miliband had said he […]

The Commission has today published Consultation Paper No. 4 2015 on revisions to the Money Laundering (Jersey) Order 2008 and Commission AML/CFT Handbooks. The consultation has a much reduced comment period as the proposed amendments are as a result of the recent assessment of the Island’s compliance with some of the former FATF Recommendations by […]

Public Statement on Mr Stephen Lee Ross (“Mr Ross”), born 8 February 1962 – Financial Services (Jersey) Law 1998, as amended (the “Financial Services Law”) The Jersey Financial Services Commission issues this public statement under Article 25(a) of the Financial Services Law with respect to directions issued to Mr Ross under Article 23 of the […]

Investment into Africa and building relationships with US fund managers were amongst the points discussed by Jersey Finance at its Annual Review presentation held at the Hotel de France recently (28 January). Hosted by Jersey Finance Chairman, Robert Christensen, the event, attended by around 180 local financial services practitioners and politicians, included an introduction from […]

Jersey has captured beneficial ownership information on a corporate registry since 1999 and this information is available to law enforcement agencies. Its Financial Services Commission (JFSC) regularly undertakes rigorous on-site examinations of businesses to assess compliance. Given there is ready access and availability of beneficial ownership information to foreign fiscal and investigative authorities, the industry […]

The Jersey Financial Services Commission (JFSC) and the South African financial services regulator, the Financial Services Board of the Republic of South Africa (FSB), have signed a Memorandum of Understanding (MoU). The MoU provides a framework for the JFSC and the FSB to exchange confidential regulatory information and co-operate with each other regarding the supervision […]

On Thursday 26th Feb 2015 at the  Hotel De France, Jersey, the JFSC are hosting a  Free workshop to present its Business Plan   The Chairman and the Directors of the Commission will explore their major priorities for the year ahead which include: Jersey’s MONEYVAL review and response Commission change programme and what it means for […]