The recent amendments made by the Jersey Financial Services Commission (“JFSC”) to the AML/CFT/CPF Handbook include a new section (8.8) which pro...
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New Requirements for Non-Profit Organisations (“NPOs”)
The Government of Jersey and the Jersey Financial Services Commission (“JFSC”) have concluded their consultation on amendments to certain require...
Removal of AML/CFT Exemptions
The JFSC has published its feedback to the Consultation on AML/CFT Scope Exemptions. A host of entities which were formerly subject to exemptions ...
The Art of Compliance
There’s no point denying it. It’s a tough time to be a compliance officer. The seemingly never-ending communications from the JFSC re...
Have you captured all of your products and services?
The recent JFSC public statement and civil penalty issued by the JFSC to Lloyds Bank Corporate Markets Plc, may not at first glance be considered rel...
JPF returns – best practice
The deadline for the annual Jersey Private Fund submission by Designated Service Providers has been extended to the end of August. The DSP is re...
Sanctions Risk – is your Business Risk Assessment (“BRA”) current?
Over the past few months, most businesses have learned a great deal about sanctions, in particular how practical and effective the business’ contro...
Financial Sanctions Evasion Typologies Red Alert
The UK's National Crime Agency, Office of Financial Sanctions Implementation and other authorities have issued a Red Alert providing useful and pract...
Preparing for the Senior Manager Regime
The Jersey Financial Services Commission has launched a consultation on who should be regarded as senior managers for the purposes of the civil penal...
Cyan Regulatory Services and Altair Partners merge to create market-leading governance and compliance services business
Independent professional services firms, Cyan and Altair, have joined forces to create a leading practice in the Channel Islands comprising more than...
Appointment of Sharon Avis
We are absolutely delighted to welcome Sharon Avis to Cyan. Sharon has over 37 years experience in the Jersey finance industry within the banking,...
Understanding Foreign PEP Risks
The surfacing of multiple issues in the various Pandora Papers investigations, combined with the JFSC’s recent publication of feedback from their e...
Compliance under pressure
The recent Government / JFSC webinar which explained their consultations on proposed changes to enforcement and civil penalty powers and processes se...
Ethnically or Racially Motivated Terrorism Financing
It can be difficult to find useful and relevant information on terrorist financing; money laundering seems to be addressed far more frequently in ind...
Cyan’s new offices
On 16 July 2021, Cyan is re-locating to our new offices at: Third Floor 22 Hill Street St. Helier Jersey ...
Funds corporate governance – the regulator’s expectations
I was recently reading an excellent article by Tim Morgan, Chair of the Jersey Funds Association, concerning the increasing importance of governance ...
It ain’t just what you do, it’s the way that you do it!
In a competitive and highly regulated world, we must adhere to and are measured against ever-higher standards. Those who work in healthcare, co...
Working together in HR and Compliance
The HR and Compliance Teams often seem to operate at a distance within the same business, each focussing on their own areas of law and regulation wit...
A Regulator calls – a short guide to preparing for and managing a JFSC examination
Imagine you are the Head of Compliance for ABC Financial Services. The phone rings and it's your JFSC supervisor on the line, informing you tha...
COVID-19 – how should the Compliance Function respond?
We have seen communications recently from the JFSC regarding the industry’s response to the COVID-19 virus and it is encouraging that firms appear ...
