AMLSP added to the 2025 JFSC Thematic Examination Programme
03/02/2025
The JFSC conduct thematic examinations in response to perceived, current or emerging regulatory risks.
Themes are selected for consideration and review across various entities and individuals from the same or different sectors.
This enables the standard of compliance and associated risks to be assessed more broadly.
Examinations can be conducted through
- Questionnaires,
- In-depth examinations,
- Desk-based activity or
- A combination of these methods.
In 2025, The JFSC Supervision Examinations Unit will examine the following themes:
- Conflicts of interest (continued from 2024 – see conflicts of interest thematic examination: questionnaire — Jersey Financial Services Commission)
- https://www.jerseyfsc.org/news-and-events/conflicts-of-interest-thematic-examination-questionnaire/
- https://www.jerseyfsc.org/media/7805/conflicts-of-interest-examination-questionnaire.pdf
- Suspicious activity reporting
- Outsourcing arrangements
THEMATIC ASSESSMENT VISITS (TAVS)
The JFSC will also be undertaking TAVs, which follow a similar methodology to the thematic examinations but are narrower in scope and sector-specific in focus:
- BANKING – FRAUD CONTROLS AND RESPONSE (EXTENSION OF 2024 TAVS) AND FEES, CHARGES AND COMMISSIONS
- FUND SERVICES BUSINESS – TRANSACTION MONITORING
- TRUST COMPANY SERVICES PROVIDERS – TRANSACTION MONITORING
- INVESTMENT BUSINESS – FEES, CHARGES AND COMMISSIONS
- ACCOUNTANTS – CUSTOMER RISK ASSESSMENTS
- PRESCRIBED NON-PROFIT ORGANISATIONS (NPOS) – PROPORTIONATE RISK-BASED MEASURES TO MITIGATE THE RISK OF NPOS BEING MISUSED FOR TERRORIST FINANCING PURPOSES
- VIRTUAL ASSET SERVICE PROVIDERS – THE TRAVEL RULE
- AMLSPS—As the JFSC approaches two years since the introduction of anti-money laundering services providers (AMLSPs), the JFSC will also undertake a TAV to evaluate the practical measures that AMLSPs have taken to comply with the AML/CFT/CPF Codes of Practice set out in Section 18 of the AML/CFT/CPF Handbook.
See further details on the 2025 thematic examinations and TAVs: Examination programme — Jersey Financial Services Commission.
https://www.jerseyfsc.org/industry/examinations/examination-programme/
Source
https://www.jerseyfsc.org/news-and-events/thematic-examination-programme-2025/
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.