How To Deal With The JFSC And JFSC Investigations – Monetary Providers


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The regulatory setting is more and more advanced and sometimes
difficult for regulated companies.

In these latest guides, Daniel Maine offers to-the-point
overviews of a number of vital features of JFSC investigations, and
how corporations ought to work with the regulator if they arrive beneath
investigation.

Our unrivalled multi-disciplinary regulatory group advises throughout
the spectrum of regulatory work, from front-end regulatory recommendation
on the company and fund formation aspect, to advising on
contentious regulatory issues and financial crime points. Shoppers
profit from our wide-ranging experience, together with that of counsel
Daniel Maine who spent 9 years working on the Monetary Conduct
Authority, and James Angus who’s authorised to simply accept directions
as exterior counsel to the Financial Crime and Confiscation
Unit.

If you want additional help on this space, please get in
contact.

The brand new failure to stop cash laundering offence: what are
Jersey companies required to do?

With impact from 24 June 2022, Jersey has launched a brand new
offence beneath Article 35A of the Proceeds of Crime (Jersey) Legislation
1999 of failing to stop cash laundering.

From that date, if a enterprise is related to sure individuals
who’re engaged in cash laundering, the enterprise is itself in danger
of committing a legal offence until it might display that its
AML insurance policies and procedures (each on paper and in apply) have been
nonetheless match for goal.

This briefing suggests just a few sensible suggestions that companies
would possibly think about with a purpose to assist minimise the chance, learn it right here.

Prime ten suggestions for coping with regulatory investigations

On this infographic, we share our high ten suggestions for coping with
regulatory investigations. Obtain it right here.

Snapshot: how does the JFSC collect info – and is it
protected?

With a view to discharge its capabilities successfully the JFSC
requires a broad vary of data, which frequently comes from the
very corporations it regulates. A lot of that info might be
confidential (if not commercially delicate), which means corporations will
need to perceive whether or not it’s protected within the JFSC’s fingers.
Learn extra.

Snapshot: being open and cooperative with the JFSC – what does it
contain and why does it matter?

The importance that the JFSC locations on compliance with the
obligation of candour is evident from numerous disciplinary outcomes over
time, and it’s due to this fact vital that corporations have an excellent
understanding of what this obligation requires of them. Learn extra.

Snapshot: overview of JFSC’s enforcement powers

Whereas regulated corporations are dedicated to making sure that they comply
with their authorized and regulatory obligations, there may be inevitably a
threat that problems with potential concern to the JFSC will come up. The
JFSC has a broad set of instruments that it might use to deal with such dangers
and any misconduct. Learn extra.

Snapshot: the JFSC’s decision-making course of and difficult
JFSC selections

If a agency or particular person finds itself the topic of JFSC motion,
you will need to perceive the JFSC’s decision-making
course of. It will allow you to to establish and make finest use of the
alternatives to place your case throughout to the JFSC, probably
influencing what (if any) motion it takes. Learn extra.

The content material of this text is meant to supply a normal
information to the subject material. Specialist recommendation must be sought
about your particular circumstances.

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