Money Laundering order amendment 11
07/02/2020
The Minister for External Relations Senator Ian Gorst yesterday made the Money Laundering (Amendment No. 11) (Jersey) Order 2019, which will come into force next week on Wednesday 12 February. Amendment No. 11 makes miscellaneous improvements to the drafting and layout of provisions in the MLO intended to add clarity and aid interpretation, without changing their effect, and correct some cross-references.
It also removes the SARs form from the Schedule to the MLO to add flexibility. Instead, the SARs form will be in a form "approved by the Minister". In practice, the form on the States of Jersey Police Joint Financial Crimes Unit portal will remain the form to be used by practitioners.
These changes are not intended to alter the obligations or practices of industry. It is hoped, however, that they will make it slightly easier to interpret the requirements of the MLO.
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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.