With European legislation affecting the industry, and managers looking for talent and tax efficiencies, could hedge funds start relocating to the Channel Islands in their droves? Orlando Crowcroft investigates Ever since Jersey and Guernsey began to actively seek diversification in their respective financial services industries, attracting a portion of the multi-billion-dollar hedge fund sector to […]

The States of Jersey the biggest territory in the Channels Island is set to return £ 315 million Abacha loot to Nigeria. Micheal Birt, the Ballif of Jersey stated this at a dinner in honour of Dalhatu Tafida, Nigerian High Commissioner to the UK during a State visit to the Island. Birt who doubles as […]

Speeches 1. 26 November 2014 Presentation slides: Reporting and tipping off provisions = http://bit.ly/1CHZSuL 2. 26 November 2014 Presentation slides: General overview of changes to the Money Laundering Order and AML/CFT Handbooks = http://bit.ly/1wwD8up 3. 25 November 2014 Presentation slides: Placing reliance on obliged persons = http://bit.ly/1tII7SK 4. 25 November 2014 Presentation slides: Application of simplified identification measures […]

On 21 November 2014 the Financial Regulation (Miscellaneous Provisions No.2) (Jersey) Law 2014 came into force. The law contains a range of amendments to the following Laws: 1. the Collective Investment Funds (Jersey) Law 1988 (CIF(J)L); 2. the Banking Business (Jersey) Law 1991 (BB(J)L); 3. the Insurance Business (Jersey) Law 1996 (IB(J)L); 4. the Financial […]

 HSBC has severed ties with the firm behind the world’s first regulated Bitcoin investment fund. Jersey-based hedge fund Global Advisors (GA) claims the bank was worried about “money laundering risk”. GA’s Daniel Masters told the BBC that the development threatens well publicised plans to make Jersey a global centre for digital currencies. HSBC would not […]

JFSC CONSULTATION PAPER AML 6, 2014 REVISIONS TO COMMISSION AML/CFT HANDBOOKS – the new section will be of interest to relevant persons issuing prepaid cards http://bit.ly/1pjdhn2

The amazing tale of Mukhtar Ablyazov, a Kazakh oligarch alleged to have committed a multi-billion dollar fraud, was the subject of a seminar jointly hosted by Bedell Cristin and KPMG at the Pomme D’Or on 5 November 2014 attended by more than 100 bankers, trust professionals and corporate service providers. Chaired by Bedell Cristin Senior […]

The Charities (Jersey) Law 2014 (the “Charities Law”) is being brought into force on a staged basis as part of the Island’s initiative to strengthen and develop Jersey’s position as a centre of excellence for philanthropic wealth management. It is being implemented in stages, to allow for various preliminary matters to be completed first, before […]