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
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
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
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
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
Attorney General (“AG”) has issued guidance to the industry on the circumstances in which the AG will apply to Jersey’s Royal Court (“the Court”) under article 78 of the Companies (Jersey) Law 1991 (“the Companies law”) to...more
Jersey's economic substance regime has been in existence for four years now. On the one hand its scope has expanded to include partnerships as well as self-managed corporate funds; but on the other hand certain exemptions...more
For decades, the Limited Liability Company (“LLC”) structure has been familiar to US managers and investors, with onshore and offshore options combining desirable features of companies and partnerships in one flexible...more
The Companies (Demerger) (Jersey) Regulations 2018 (the “Regulations”) provides a flexible demerger regime for relevant Jersey companies, whilst simultaneously protecting shareholder, creditor and employee interests.
In...more
Amongst the changes to the Limited Partnerships (Jersey) Law 1994 (the “LP Law”) that have been implemented, included are changes that both helpfully clarify and confirm certain provisions of the existing law with respect to...more
10/21/2022
/ Clawbacks ,
Debt ,
Environmental Social & Governance (ESG) ,
Financial Obligations ,
General Partner ,
Investment ,
Limited Partnership Agreements ,
Limited Partnerships ,
New Amendments ,
Policy Terms ,
Profit Sharing ,
Third-Party Rights
The States of Jersey’s Comptroller of Revenue is withdrawing the temporary concession that it issued in March 2020 in relation to the application of Economic Substance and Corporate Tax Residency Requirements during periods...more