JFSC BUSINESS PLAN 2016

It is proposed that all virtual currency exchanges be subject to the following requirements: The materials contained on this website are for general information purposes only and are subject to the disclaimer. More from this firm Don’t delay — Jersey’s Royal Court rules that time is a factor when deciding whether to exercise its discretion on grounds 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? Register now for your free newsletter. Legislative updates Virtual currencies and financial technology regulation Following a JFSC consultation in Summer , legislation 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 You need to be logged in to make a comment.

Virtual currencies and financial technology regulation Following a JFSC consultation in Summer , legislation 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 Your comment has been sent. However, it is proposed that the codes of practice for certified funds be updated in relation to complaints, including requiring funds to: 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. Notification requirements It is proposed that all notification requirements set out in the codes be made clear and unambiguous. However, it is proposed that the codes of practice for certified funds be updated in relation to complaints, including requiring funds to:. The materials contained on this website are for general information purposes only and are subject to the disclaimer.

It is proposed that: States adviser Colin Powell dies. The proposal set out in the JFSC’s October 21 policy document is modelled on the Jersey money service business regime. Business plan The JFSC unveiled its business plan on February 5detailing its objectives and priorities for and beyond.

  DISSERTATION SEBASTIAN RASCHE

As such, ppan may be necessary to appoint a money 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.

PUBLICATIONS & COMMUNICATIONS

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 However, it is proposed that the codes of practice for certified funds be plna in relation to complaints, including requiring funds to:.

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. Register now for your free newsletter.

These returns are then shared with the competent authority of the account holder’s resident jurisdiction. The CIFO does not oversee certified funds or their functionaries, except in relation to recognised funds.

However, it is proposed that the codes of practice for certified funds be updated in relation to complaints, including requiring funds to: Advertising Full details on advertising in the City Magazine and online are available in our Media Pack.

The scope of the CRS is far broader than the existing intergovernmental agreements. All you need to do is sign up for our newsletter.

Fund service business annual compliance return The JFSC’s Funds Supervision Team has jfs 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.

Funds legal and regulatory update

It’s easy to stay current with blglobal. More from this firm Don’t delay — Jersey’s Royal Court rules that time is a factor when deciding whether to exercise its discretion on grounds 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?

  YOUWIN BUSINESS PLAN COMPETITION NAIRALAND

Second, exemptions from reporting have been materially removed, except for pre-existing accounts.

jfsc business plan 2016

Businesslife Wealth edition. Want to know when we publish new content? The information contained in the form will be used to assist in the JFSC’s supervision of fund service businesses. It is proposed that all virtual currency exchanges be subject to the following requirements: Jersey substance proposals — company perspective More articles.

JFSC – Presentation slides: Business Plan

Your comment has been sent. You can update your preferences at any time by registering for a blglobal. 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.

JFSC launches annual business plan Posted: Most Read News Blue Islands challenges regulator. It is proposed that:. As a result, Jersey service providers will need to update their processes in respect of the CRS. The form should be completed by all jfcs persons that hold a fund service business registration, except for managed entities, which need not complete a return.

jfsc business plan 2016

You need to be logged in to make a comment. This year we will look to improve internal procedures, with the aim of providing maximum clarity to all our stakeholders. Add a Comment Name: