What is the definition of a Professional Client for investment business (as defined in the Financial Services (Jersey) Law 1998, as amended [FSJL]) in Jersey?  Please note the definition will change for different activities for example the following jersey private placement fund guide differs from 1. per se Professional Client means either a Large Undertaking […]

  MONEYVAL In 2012, Jersey, together with the other Crown Dependencies, joined MONEYVAL’s mutual evaluation and follow-up process. In future, MONEYVAL will be responsible for assessing Jersey’s compliance with relevant international standards to counter money laundering and terrorist financing. Previous assessments (published in 2003 and 2009) were undertaken by the International Monetary Fund (the “IMF”). […]

Benefit cheats have been warned that they will face ‘robust’ investigation after it was revealed that nearly £2.1 million of welfare was wrongly claimed in the last five years. The Social Security department paid out a seven-figure sum in incorrectly and fraudulently claimed benefits between 2009 and 2013. But the department’s fraud team say that […]

ITV News can reveal a five-fold increase in fraudulent benefit claims in Jersey in the past five years. New figures show more than two million pounds in pay-outs has been wrongly claimed by islanders since 2009. But the true scale could be much greater, with investigators admitting it is almost impossible to uncover ever case […]

The Jersey Financial Services Commission (the “JFSC”) has (April 2014) issued a public statement on the JFSC website with reference to Herald Trust Company Limited, it can be viewed at:  http://www.jerseyfsc.org/pdf/Public-Statement-Herald-Jersey-April-2014.pdf           

Maintaining and promoting Jersey’s status as a “leading” international financial centre, and maintaining “an attractive operating environment” for financial businesses, are among the key objectives identified in a policy framework document published today by the island’s Government. The document “sets out the underlying principles for the government’s support of Jersey’s main industry, and outlines the […]

Ensuring that standards of conduct and behaviour are set and adhered to helps individuals, teams and organisations to achieve a happier and more productive workplace and thereby assist in achieving and maintaining high levels of performance. More fundamentally, the unfair dismissal regimes in both Jersey and Guernsey identify conduct as a potentially fair reason for […]

In the recent case of AB and Others v Syvret [2013] JLC 170, the Royal Court had to consider for the first time in Jersey (in a civil context) the impact of the regulatory regime in Jersey under the Data Protection (Jersey) Law 2005 (the DPL) upon online blog sites. It further had to determine […]