1.  Jersey financial regulators and the police have been accused of failing to act against a firm allegedly involved in moving gold sourced from a war zone. 2.  Swiss company, Hussar Ltd, is nominally owned by a Jersey trust company. It is the subject of an inquiry by Swiss authorities over claims it procured gold […]

The Jersey Financial Services Commission has announced the appointment of three new Directors taking up their respective positions currently or in the near future. These appointments fill positions arising from 1.  the departure from the Commission of two Directors in late 2012 and 2.  the recent retirement of Nigel Woodroffe, the Chief Financial Officer of […]

Consultation in relation to amendments to the legislation covering “Tipping off” offences The Chief Minister’s Department is conducting a short, closed consultation in relation to amendments to the legislation covering “Tipping off” offences. The final date for responses is Friday 23 May 2014 The short consultation period on this occasion is due to the upcoming […]

The Discrimination (Jersey) Law 2013 is due to come into effect on 1st September 2014. It prohibits less favourable treatment on the grounds of race. Race is the only protected characteristic to be outlawed by the legislation. Further protected characteristics are intended to come within scope, and it is likely that discrimination on the grounds […]

INTRODUCTION The JFSC have issued their 2014 Summary Findings following its 2013 On-Site Visit Examination Programme. The Introduction, scope, process and overview is outlined below Introduction, scope, process and overview Introduction This paper sets out the summary findings arising from the Jersey Financial Services Commission’s (the “Commission”) programme of on-site examinations as part of its […]

INTRODUCTION The JFSC have issued their 2014 Summary Findings following its 2013 On-Site Visit Examination Programme. In this report the JFSC provided an overview and conclusion as follows JFSC overview and conclusion The majority of on-site 2013 examinations encompassed a review of Corporate Governance, the key person functions and Critical Anti-Money Laundering and the Countering […]

INTRODUCTION The JFSC have issued their 2014 Summary Findings following its 2013 On-Site Visit Examination Programme. The key findings are as follows KEY FINDINGS Suspicious Activity Reporting Procedures Evaluation of SARs and Reporting to the JFCU Corporate Governance Delegated functions of the board Business Risk Assessment and Strategy Conflicts of Interest Compliance Function Compliance Resourcing […]

At a ceremony in Dubai on 5 May 2014, the Jersey Financial Services Commission (the “Commission”) and the Emirates Securities and Commodities Authority (the “ESCA”) signed a Memorandum of Understanding (“MoU”) that establishes a framework for mutual assistance and the exchange of regulatory information. The MoU was signed by the Director General of the Commission, […]