Jersey’s financial regulator may have new powers by the beginning of September this year, enabling it to question former employees of firms which are under investigation. The island’s Financial Services Commission also wants, if necessary, to pursue people who have moved to other jurisdictions so enough evidence can be gathered to come to a satisfactory […]

The Jersey Financial Services Commission (the “Commission”) has issued a feedback paper setting out the Commission’s response to comments received on its 2012 consultation paper which contained proposals for a miscellany of amendments to the regulatory legislation that it administers. The need for the legislative amendments has arisen as a result of the use, and […]

The Governments of the Crown Dependencies have today issued draft FATCA guidance as part of a consultation process. Comments are invited on the draft guidance document by 14 March 2014. It is expected that final FATCA guidance to be issued shortly thereafter. The guidance notes are the same across Jersey, Guernsey and the Isle of […]

In its decision in Re Ashburton Global Funds PCC of 9 January 2014, the Royal Court confirmed that a cell of a protected cell company incorporated under the Companies (Jersey) Law 1991 (the Law) has standing to enter into arrangements with its members which can be the subject of an application to seek the sanction […]

Royal Court upholds appeal against French TIEA Notice – APEF Management Company 5 Limited –v– The Comptroller of Taxes [2013] JRC 262 The Royal Court has, for the first time, allowed an appeal against the issuing by the Comptroller of a notice to disclose documents under the Taxation (Exchange of Information with Third Countries) (Jersey) […]

he Money Laundering (Amendment No. 6) (Jersey) Order 2013 (“MLO Amendment 6”) came into force on Wednesday 18 December, 2013 and the Jersey Financial Services Commission is now working on making consequential amendments to the AML/CFT Handbooks. A series of training workshops will be held in the Lower Hall at St Paul’s Centre on Thursday […]

A recent case has far reaching consequences for trustees dealing with and financing UK Property and highlights that trustees must now take great care to avoid personal liability when entering into contractual arrangements. Under English law the position has always been that a trustee acts personally. This means that a trustee is personally liable for […]

For some time now there have been rumours on this subject. Pierre Moscovici (Minister of Economy and Finance) and Bernard Cazeneuve (deputy Budget Minister) have officially announced to the Rapporteurs and the Presidents of the Finance Commission (Commission to the National Assembly and to the Senate) that, “taking into account progress realized and answers actually […]