Jersey substance proposals — company perspective More articles. The Ogier website can be accessed at www. The proposal set out in the JFSC’s October 21 policy document is modelled on the Jersey money service business regime. Register now for your free newsletter. This year we will look to improve internal procedures, with the aim of providing maximum clarity to all our stakeholders. Advertising Full details on advertising in the City Magazine and online are available in our Media Pack.
We would like to ensure that you are still receiving content that you find useful — please confirm that you would like to continue to receive ILO newsletters. Second, exemptions from reporting have been materially removed, except for pre-existing accounts. Most Read News Blue Islands challenges regulator.. The JFSC will provide its responses by February 19 and it is anticipated that the revised codes will be issued during the first half of ILO is a premium online legal update service for major companies and law firms worldwide.
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JFSC – Presentation slides: Business Plan
Advertising Full details on advertising in the City Magazine and online are available in our Media Pack. JFSC launches annual business plan Posted: Fund service business annual compliance return The JFSC’s Funds Supervision Team has introduced an annual compliance return for fund services businesses, which requires that registered persons provide information on their businesses annually, bringing it into line with other regulated sectors such as trust company business and banking business.
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Jersey substance proposals — company perspective More articles. It is proposed that all virtual currency exchanges be subject to the following requirements:. ILO is a premium online legal update service for major companies and law firms worldwide. As such, it may be necessary to appoint a busienss laundering compliance officer and money laundering reporting officer and put policies and procedures in place in order to prevent and detect money laundering and terrorist financing.
However, it is proposed that the codes of practice for certified funds be updated in relation to complaints, including requiring funds to:. The proposal set out in the JFSC’s October 21 policy document is modelled on the Jersey money service business regime.
JFSC to hold Business Plan presentation – Business News |
Add a Comment Name: The proposal suggests that the codes explicitly state that all required notifications be provided to the JFSC in writing and that this requirement can be satisfied b y email. The form should be completed by all registered persons that hold a fund service business registration, except for managed entities, which need not complete a return. Members of the financial services industry and other interested parties were invited to attend the event.
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Funds legal and regulatory update
More from this firm Don’t delay — Jersey’s Buainess Court rules that time is a factor when deciding whether to exercise its discretion on 206 of mistake At a glance guide to Jersey wills for non-domiciled individuals Undue influence affecting settlors in exercising powers of revocation Asset protection trusts — why the recent interest?
You can update your preferences at any time by registering for a blglobal. Just sign up for our email updates! All virtual currency exchanges will be subject to the Anti-money Laundering and Counter-terrorist Financing Handbook.
The scope of the CRS is far broader than the existing intergovernmental agreements. Jersey Financial Services Commission updates.
As a result, Jersey service providers will olan to update their processes in respect of the CRS.
Additional changes Other changes include amending the introduction of the codes and updating them to include the new civil penalties regime and the definition of anti-money laundering legislation.
You’ll receive a daily summary email of new items which have been published. These returns are then shared with the competent authority of the account holder’s resident jurisdiction.
Legislative updates Virtual currencies and financial technology regulation Following a JFSC consultation in Summerlegislation relating to the regulation and supervision of virtual currency exchangers ie, those that exchange fiat money for virtual currency is expected to come into force in We would like to ensure that you are still receiving content that you find useful — please confirm that you would like to continue to receive ILO newsletters.
Director General John Harris added: