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Jersey Regulator Issues AML/CTF Funds Guidance

by Jason Gorringe, Lowtax.net, London
16 March, 2017

Jersey's financial services regulator, the Jersey Financial Services Commission, has issued new anti-money laundering and countering the financing of terrorism (AML/CFT) guidance for Funds and Fund Operators.

The guidance, to be included as a new chapter (Funds Section) of Section 14 of the Main AML/CFT Handbook, applies to both regulated and non-regulated Funds and Fund Operators, and follows consultation with the sector last year.

The new Funds Section is intended to assist Funds and Fund Operators with customer due diligence, risk assessment, and additional AML/CFT requirements. It applies to all relevant persons carrying on a financial services business in or from within Jersey, and supplements existing guidance in the Main AML/ CFT Handbook and the Handbooks dealing with the accountancy sector, the legal sector, and estate agents and high-value dealers.

The four AML/CFT Handbooks can be accessed on the Commissions's website.

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