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Jersey Financial Regulator Revises Codes Of Practice

by Jason Gorringe, Lowtax.net, London
05 September, 2016

The Jersey Financial Services Commission has released revised codes of practice for financial services businesses.

The revised codes have been updated to September 1, 2016, and set out the principles and detailed requirements that must be complied with in the conduct of financial services business.

Updated codes apply to those engaging in fund services business, general insurance mediation business, investment business, money service business, trust company business, deposit-taking business, and insurance business.

The regulator has also updated the code of practice for funds services businesses regulated under the Collective Investment Funds (Jersey) Law 1988, the Alternative Investment Funds (Jersey) Law 2012, and/or the Financial Services (Jersey) Law 1998.

Finally, it has issued four Codes of Practice, known as Handbooks. These are a general handbook for regulated financial services businesses on anti-money laundering and countering the financing of terrorism, and specific handbooks for the accountancy sector, legal sector, and for estate agents and high value dealers.

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