Ask Mat – I’m running a Jersey accountancy firm, and there are some changes in senior management. What notification is needed to the JFSC, if any?
02/06/2025
Ask Mat – I’m running a Jersey accountancy firm, and there are some changes in senior management. What notification is needed to the JFSC, if any?
MAT SAYS:-
- In addition to keeping the JFSC updated and maintaining a good relationship with them, there are some statutory requirements (OUTLINED BELOW) to consider regarding updating the JFSC.
- ALSO, there is a regulatory expectation for your firm as a legal person registered to carry on a schedule 2 business to notify changes using a JFSC form titled:-
- Notification of a change to the: › Principal Person › Money Laundering Compliance Officer (MLCO) or › Money Laundering Reporting Officer (MLRO) of a person registered to carry on a schedule 2 business
- The form is here –
JFSC NOTIFICATION: appointing a new Principal Person, MLCO or MLRO takes effect, or b. The individual ceases to act.
Under the following legislation, notification must be provided to the JFSC within one month after the date: a. the appointment of a new Principal Person, MLCO or MLRO takes effect, or b. The individual ceases to act.
- Article 34(2) of the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 and
- Article 7(6) of the Money Laundering (Jersey) Order 2008
- 8(4) the Money Laundering (Jersey) Order 2008
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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.