The Jersey Gambling Commission (JGC) has finally awarded its first online gaming licence, with lottery software provider Twelve40 the first company to receive approval in the Channel Islands bailiwick. Twelve40 has been granted a remote gambling operator’s licence under the terms of Part 2, Article 12 of the Gambling (Jersey) Law 2012. The new licensee […]

A consultation on draft secondary legislation that would set the civil financial penalties tariff for contraventions of Codes of Practice On 9 December 2014, the States of Jersey approved the Amendment Law. That law, which is now awaiting Privy Council approval, will amend the Commission Law to provide the Commission with the power to impose […]

First of all, many people may have seen a local report on or around 3 January on ITV stating that in addition to the Social Security Maternity Allowance updates, a period of statutory maternity leave is now in force. It is important to note that whilst there have been updates to Social Security’s maternity allowance […]

With effect from 1st January 2015 amended legislation enables Jersey QROPS as an option to pension investors living off the island. For many years the Island has had a large number of QROPS pension schemes recognised by HMRC however local law restricted these only to Jersey resident individuals. The revised Income Tax (Jersey) Law permits […]

The new JFSC version of the Handbook for the prevention and detection of money laundering and the financing of terrorism is effective from 1 January 2015. CLICK HERE – http://bit.ly/1Da5QEd The new sections are made up as follows General sections Section 1 – Introduction Section 2 – Corporate governance Section 3 – Identification measures – […]

JFSC HANDBOOK FOR THE PREVENTION AND DETECTION OF MONEY LAUNDERING AND THE FINANCING OF TERRORISM FOR FINANCIAL SERVICES BUSINESS REGULATED UNDER THE REGULATORY LAWS Part 4 Log of Amendments to the Handbook This part of the Handbook sets out the amendments applied as a consequence of changes to the Money Laundering Order and other relevant legislation and comments received […]

Earlier this year it was finally reported that the government in Jersey and Guernsey had cooperated in creating a joint financial ombudsman scheme (the “Scheme”). Since the announcement we are now “full steam ahead” and the Scheme will operate from an office in Jersey from 2015. David Thomas, a lawyer, who was the UK Banking […]

In December 2013 Jersey was subject to a Progress Report by MONEYVAL, the body which monitors the Island for its compliance with International Anti-money laundering and countering the financing of terrorism obligations. In that report a number of recommendations were made by the MONEYVAL secretariat which would require amendments to the Money Laundering (Jersey) Order […]