A regulatory obligations library for regulated firms, pre-built and kept current. When a rule changes, the regulatory change is flagged line by line and the action to deal with it is one click away.
Code of Practice for Alternative Investment Funds and AIF Services Business - EU/EEA regime
JFSC
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Alternative Investment Funds
Code of Practice for Alternative Investment Funds and AIF Services Business - UK regime
JFSC
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Alternative Investment Funds
Code of Practice for Certified Funds - Schedule 1
JFSC
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Certified Investment Funds
Code of Practice for Certified Funds - Schedule 2: Jersey Expert Fund Guide
JFSC
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Certified Investment Funds
Code of Practice for Certified Funds - Schedule 3: Jersey Listed Fund Guide
JFSC
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Certified Investment Funds
Code of Practice for Certified Funds - Schedule 4: OCIF Guide
JFSC
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Certified Investment Funds
Code of Practice for Certified Funds - Schedule 5: Jersey Eligible Investor Fund Guide
JFSC
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Certified Investment Funds
Code of Practice for Deposit-taking Business: Appointment of Auditor
JFSC
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Deposit Taking
Code of Practice for Deposit-taking Business: Declaration of Compliance
JFSC
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Deposit Taking
Code of Practice for Deposit-taking Business: Financial Statements
JFSC
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Deposit Taking
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Library /
AML/CFT/CPF Handbook
48
Source Details Obligations Risks Audit Notes
SECTION 1: 1 – Introduction
1 ↗
Passive
The continuing ability of Jersey’s finance industry to attract legitimate customers with funds and assets that are clean and untainted by criminality depends, in large part, upon the Island’s reputation as a sound, well-regulated jurisdiction. Any business that assists in money laundering, the financing of terrorism, or the financing of proliferation, whether with knowledge or suspicion of the connection to crime, or acting without regard to what it may be facilitating through the provision of its products or services, will face the loss of its reputation, risk the loss of its Licence or other regulatory sanctions, damage the integrity of Jersey’s finance industry, and may risk prosecution for criminal offences.
Information Security Policy
2 ↗
Passive
Jersey has had in place a framework of AML legislation since 1988, and for the CFT since 1990. This legislation has continued to be updated as new threats have emerged, including legislation to extend the definition of criminal conduct for which a money laundering offence can be committed and to combat international terrorism.
3 ↗
Passive
Criminals are aware the AML/CFT/CPF measures taken by the traditional financial sector over the past decade and may seek other means to convert their proceeds of crime, or to mix them with legitimate income before they enter the banking system, thus making them harder to detect. Lawyers, Trust Company Businesses and providers of accountancy services have all been used as a conduit for criminal property to enter the financial system and are sometimes referred to as “gatekeepers”.
What it does
Regulatory library, in the function you actually run.
A pre-built obligations library, kept current. When a rule changes, the system flags it, with a line-by-line view of what moved and an approval step, and the action to deal with it is one click away.
Obligations libraries live for Jersey, Guernsey, the Isle of Man, the UK, the EU and the US, with more jurisdictions following.
Mapped to the risk taxonomy and a starter set of controls, so you are assessing risk on day one.
Add your own obligations for internal policies and non-regulatory standards.
Obligations libraries for our six primary markets: Jersey, Guernsey, the Isle of Man, the UK, the EU and the US. For Jersey that means the Codes of Practice (Trust Company Business, Investment Business, Fund Services and Banking) alongside the AML/CFT/CPF Handbook. Each source is broken into obligations, mapped to the risk taxonomy and to a starter set of controls, so you are assessing risk against real obligations from the first day rather than typing them in.
What happens when a regulation changes?
The system flags the change against the affected source with a line-by-line diff, lists the obligations it touches, and offers the action to deal with it one click away. Nothing changes silently: an obligation update goes through approval, and the action, once opened, carries an owner and a deadline like any other.
Can we add our own obligations?
Yes. Internal policies, group standards and non-regulatory frameworks sit in the same library, mapped to the same risks and controls, so the coverage picture includes what you hold yourselves to as well as what the regulator requires.
Which jurisdictions are covered?
The library is live in our six primary markets: Jersey, Guernsey, the Isle of Man, the UK, the EU and the US, and it keeps expanding. A new jurisdiction is a library expansion, not a new product: the risk taxonomy, controls and monitoring already know how to consume it.
How do obligations connect to the rest of the system?
Every obligation maps to risks, and controls map to the obligations they satisfy. That is what makes the coverage reports possible: obligations without controls, controls without recent tests and risks without owners are all questions answered from the same data.