Jersey Directors & NEDs [less than x6], you are ALL now caught in the AML/CFT NET
19/12/2022
All AML/CFT exemptions associated with the role of a director, executive or non-executive no longer exist.
In the consultation on AML/CFT scope exemptions [SEE BELOW], the JFSC highlighted the de-minimis exemption that previously provided a director of not more than x6 companies an exemption from AML/CFT registration as a TCSP falls away.
The Feedback on the consultation on AML/CFT scope exemptions is here
- https://www.jerseyfsc.org/news-and-events/feedback-on-follow-on-consultation-on-amlcft-scope-exemptions/
- https://www.jerseyfsc.org/industry/consultations/feedback-on-follow-on-consultation-on-amlcft-scope-exemptions/
To assist you, Comsure supports many NEDS & TCBSs and others with compliance and AML processes, compliance monitoring reviews, periodic reviews, customer risk assessments, and more.
If you want to explore how Comsure can assist, Call Mathew, as follows
Mathew Beale - Chartered FCSI
Direct Tel: +44 (0) 1534 626841 - Mobile Tel: +44 (0) 7797 747 490 - Skype: comsurecompliance
mathewbeale@comsuregroup.com - www.comsuregroup.com
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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.