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Update

FinReg Autumn Update 2017 - Jersey

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18 December 2017

Welcome to our Autumn 2017 update.

The key driver behind much of the content in this edition is, familiarly, the need for Jersey to remain on top of, and often ahead of, international standards.

In particular, our spotlight article covers the current consultation paper on Data for Risk Based Supervision and the interplay between that and the National Risk Assessment. It is clear that this move to greater scrutiny of and reporting by businesses appears inevitable, but the questions concerning practical implementation of these new provisions are significant.

We also cover a number of recent or upcoming topics which are no doubt keeping everyone busy, including the forthcoming new data protection law based on the General Data Protection Regulation and the UK Criminal Finances Act, which requires policies to avoid involvement in the facilitation of tax evasion to be in place.

Important consultations and feedback papers have also been issued to cover cyber-security, amendments to the Codes of Practice, civil confiscation of assets and due diligence requirements.

We also touch on a couple of recent cases, which highlight practical considerations for businesses in contentious situations.

 

Find previous FinReg Updates here.