The JFSC has released its latest Thematic Examination report – the latest being on “Beneficial Ownership and Control”[BOC]
01/09/2023
The key details and links to the report and news are below.
During the fourth quarter of 2022, the JFSC undertook a Thematic Examination to assess the compliance of supervised persons with Beneficial Ownership and Control (BOC) regulatory obligations.
The results were.
- Ten supervised persons assessed = ten findings
Four supervised persons had no findings.
The JFSC ask all supervised persons to review this feedback and consider what enhancements to their systems and controls might be required.
- https://www.jerseyfsc.org/news-and-events/ten-findings-identified-in-2022-beneficial-ownership-and-control-thematic-examinations/
- https://www.jerseyfsc.org/industry/examinations/thematic-examination-programme-2022-feedback-beneficial-ownership-and-control/
The table below:
- Summarises the more detailed findings set out in Section 3 of the JFSC report which were identified during the examinations.
- Lists some JFSC examples of best practice which relate to each of these areas. Note that not all these examples of best practice were identified during these examinations.
Source
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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.