THE COMMISSION

'Welcome to Enforcement'

The aim of the enforcement team is to deter and detect regulatory and criminal breaches.

In practice, this means carrying out investigations into breaches of regulatory law and Codes of Practice by authorised and (where regulatory laws are broken) unauthorised businesses. Enforcement is also responsible for investigations under non-regulatory laws administered by the Commission such as the Company (Insider Dealing) (Jersey) Law 1998.

Enforcement responds to requests from overseas regulators for assistance on a regular basis. Enforcement also works closely with the States of Jersey Police, Joint Financial Crimes Unit and the Attorney General's office, as well as other local governmental agencies, to identify trends in illegal and improper activity. This is done with the view to informing and working with the local finance industry so as to minimise the incidence of regulatory offences occurring.

Serious or repetitive breaches are investigated and dealt with by Enforcement where a number of actions can be taken against an individual or a business, should they be found to have breached any regulatory or non-regulatory law. Most criminal breaches are referred to the Attorney General. Examples of breaches Enforcement deal with include failure to adhere to Anti-Money Laundering controls, acceptance of illegal funds from politically exposed persons, unlawful activities by unlicensed businesses, insider dealing, etc.

Approximately 75-80% of the team's time is taken with investigations, this being in and out of the office. This involves very detailed work and therefore attention to detail is paramount to success. External resources are utilised when required.

Although all actions and decisions taken by Enforcement are based on teamwork, cases are allocated on an individual basis to progress; therefore the ability to work alone and formulate action plans is paramount.

Knowledge of all regulatory and non-regulatory laws and procedures is essential to ensure correspondence and contact with the general public, businesses, police and other agencies is of a very high standard.

The nature of the work carried out by Enforcement requires that communication skills, both written and oral, should be of a high standard.

Due to the ever-changing internal and external environment, Enforcement officers are required to appraise themselves of all economic, political, financial and regulatory changes taking place.

Due to the events that followed September 11th 2001, Enforcement has taken a proactive role in disseminating intelligence to the local finance industry, which may assist institutions in identifying possible harmful, existing or potential, business relationships.

If you would like to find out more about Enforcement and possibly arrange a meeting, please call Barry Faudemer on 822137

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