Civil financial penalties legislation and decision making process consultations
Last week, the Government of Jersey launched a consultation on Jersey’s civil financial penalties legislation. The proposals would see the existing regime extended so that the JFSC would have the powers to impose fines:
- on money laundering compliance officers/reporting officers and compliance officers
- on senior management within regulated businesses
- on designated non-financial businesses and professions (for example lawyers, estate agents, accountants)
- for breaches of the Money Laundering Order.
The deadline for feedback on this consultation is Wednesday 1 September 2021.
On Wednesday 21 July, members of Industry will have the opportunity to find out more about this consultation as well as our consultation on our decision making process by attending a joint event hosted by the JFSC and Government.
Representatives from both agencies will provide an overview of the consultations and answer any questions from Industry. The aim of the session is to provide businesses and individuals with greater context around the proposals and the chance for open dialogue before submitting their official feedback.
Send us your questions in advance or ask on the day via Sli.do using the hashtag #GovJFSC