Its close….the Proceeds of Crime (Financial Intelligence) (Amendment) (Jersey) Regulations 2022
25/07/2023
The States Assembly made the Proceeds of Crime (Financial Intelligence) (Amendment) (Jersey) Regulations 2022 ('the 2022 Regulations') on 31st March 2022, in order to achieve better compliance with Financial Action Task Force (FATF) Recommendation 29.
However, the 2022 Regulations have not yet been brought into force, as the Jersey Financial Intelligence Unit (JFIU) Governance Board had to be formed first and a Memorandum of Understanding developed.
Since the making of the 2022 Regulations, the Board has been established and is meeting on a quarterly basis whilst a Memorandum of Understanding is being developed.
The Assistant Chief Minister therefore decided to lodge this Act for debate by the States Assembly, in order to bring the 2022 Regulations into force in time for the MONEYVAL assessment.
The principal purpose of the 2022 Regulations is to clearly define the status, role, and function of Jersey’s Financial Intelligence Unit in order to demonstrate clear technical compliance with the Financial Action Task Force Recommendation 29.
Therefore, the States Assembly is asked to make this Act in order to bring the 2022 Regulations into force in time for the MONEYVAL assessment. The debate date was scheduled for 18 July 2023.
The States Assembly made the
- Proceeds of Crime (Financial Intelligence) (Amendment) (Jersey) Regulations 2022 (the “2022 Regulations”) on 31st March 2022 (P.32/2022).
- Draft Proceeds of Crime (Financial Intelligence – Commencement of Amendment Regulations) (Jersey) Act 202-
The Team
Meet the team of industry experts behind Comsure
Find out moreLatest News
Keep up to date with the very latest news from Comsure
Find out moreGallery
View our latest imagery from our news and work
Find out moreContact
Think we can help you and your business? Chat to us today
Get In TouchNews Disclaimer
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.
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.