Jonathan Heaney

Jonathan Heaney

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AML update: JFSC announces its focus on PEPs in January 2024

The Jersey Financial Services Commission ("JFSC") recently announced that its first area of focus for its 2024 thematic examination programme will be politically exposed persons ("PEPs") (the "Examination"). The Examination...more

11/29/2023  /  Anti-Money Laundering , Compliance Monitoring , Corruption , Due Diligence , Employee Training , Investigations , Policies and Procedures , Politically Exposed Person (PEPs) , Risk Assessment , Screening Procedures

AML update: regulatory expectations in respect of beneficial ownership & control

The Jersey Financial Services Commission (the "JFSC") recently published feedback from its 2022 thematic examination on the extent to which supervised persons complied with their regulatory obligations with respect to...more

9/21/2023  /  AML/CFT , Anti-Money Laundering , Beneficial Owner , Compliance , Corporate Governance , Employee Training , Policies and Procedures , Risk Assessment

AML update: consultation on amendments to the AML/CFT/CPF Handbook

The Jersey Financial Services Commission ("JFSC") recently launched a consultation on further amendments to its anti-money laundering/countering the financing of terrorism/countering proliferation finance ("AML/CFT/CPF")...more

8/24/2023  /  AML/CFT , Anti-Money Laundering , EU , Financial Intelligence Unit (FIU) , Handbooks , New Amendments , Politically Exposed Person (PEPs) , Risk Assessment , Suspicious Activity Reports (SARs)

PTC update: clarification of application of NPTO

The Government, further to consultation with the Jersey Financial Services Commission ("JFSC"), has recently published an Order clarifying the scope of the Proceeds of Crime (Duties of Non-Professional Trustees) (Jersey)...more

8/24/2023  /  AML/CFT , Applications , FATF , Guidance Update , Natural Person Requirement , Private Trust Companies , Risk Assessment , Trustees

Director exemptions: changes to AML obligations

Introduction - Further to a recent update, in which the Government, in consultation with the Jersey Financial Services Commission ("JFSC"), announced its intention to make legislative changes to the anti-money laundering,...more

8/23/2023  /  AML/CFT , Anti-Money Laundering , Financial Institutions , Internal Controls , Policies and Procedures , Recordkeeping Requirements , Risk Assessment , Risk Management

Proceeds of Crime Law: Jersey's AML / CFT / CPF regime

Executive Summary - On 30 January 2023, legislation came into force that amended the Proceeds of Crime (Jersey) Law 1999 ("the POCL") and expanded the scope of Jersey's anti-money laundering, counter-terrorist financing,...more

6/29/2023  /  AML/CFT , Anti-Money Laundering , Enforcement , Financial Institutions , Penalties , Private Trust Companies , Risk Assessment
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