JFSC Guidance Note: For what comprises “Advice” as opposed to “Arranging” in the context of Trust Company Business [Jan 2024]
25/07/2024
For the purpose of the Financial Services (Jersey) Law 1998 (the Law),
- "ADVICE" is not subject to regulation.
- Whereas "ARRANGING" is within the context of Trust Company Business.
In this regard, the professional advice given by lawyers or accountants in private practice is outside the scope of the Law and includes:-
- All discussions and correspondence with or on behalf of the client regarding the:-
- Formation of a company to the point of signing and filing incorporation documents or, in the case of a foreign company, instructing a formation agent;
- Registration of a limited partnership or, in the case of a foreign limited partnership, instructing a formation and registration agent; and
- Preparing and drafting documents
- Such as minutes, resolutions, trust instruments and partnership agreements for consideration by the client, and
- The preparation and delivery of execution copies of any of the same to the client or their professional advisers.
Advice vs Arranging https://www.jerseyfsc.org/media/7329/gn-advice-v-arranging.pdf
- JFSC Issued:13 September 2001
- JFSC Last revised:31 January 2024
SOURCE
https://www.jerseyfsc.org/industry/guidance-and-policy/advice-vs-arranging/
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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.