consultation paper - the Jersey Financial Services Commission

The Commission invites comments on this consultation paper. William Byrne at Jersey Finance. Limited is co-ordinating an Industry response that will incorporate any matters raised by its members. Comments should reach Jersey Finance Limited by 19 December 2014. William Byrne. Head of Technical. Jersey Finance ...
718KB Sizes 0 Downloads 103 Views
CONSULTATION PAPER AML 6, 2014

REVISIONS TO COMMISSION AML/CFT HANDBOOKS Proposals to provide additional guidance in the Handbook for the Prevention and Detection of Money Laundering and the Financing of Terrorism for Financial Services Business Regulated under the Regulatory Laws

ISSUED NOVEMBER 2014

Consultation Paper

CONSULTATION PAPER Please note that terms in italics are defined in the glossary of terms. This consultation paper should be read and understood alongside Position Paper AML 2014. The Position Paper can be accessed by clicking here. The Commission invites comments on this consultation paper. William Byrne at Jersey Finance Limited is co-ordinating an Industry response that will incorporate any matters raised by its members. Comments should reach Jersey Finance Limited by 19 December 2014. William Byrne Head of Technical

Telephone:

+44 (0) 1534 836021

Facsimile:

+44 (0) 1534 836001

Jersey Finance Limited 4th Floor

Email:

[email protected]

Sir Walter Raleigh House 48-50 Esplanade St Helier Jersey JE2 3QB Responses may also be sent directly to [email protected] by 19 December 2014. If you require any assistance, clarification or wish to discuss any aspect of the consultation paper prior to formulating a response, it is of course appropriate to contact the Commission. The Commission contact is: Andrew Le Brun Director, Financial Crime Policy

Telephone: Email:

+44 (0) 1534 822065 [email protected]

Jersey Financial Services Commission PO Box 267 14-18 Castle Street St Helier Jersey JE4 8TP It is the policy of the Commission to make the content of all responses available for public inspection unless specifically requested otherwise.

2 of 13

ISSUED NOVEMBER 2014

Glossary of Terms

GLOSSARY OF TERMS AML/CFT

means anti-money laundering and countering the financing of terrorism

AML/CFT Handbook

means the Handbook for the Prevention and Detection of Money Laundering and the Financing of Terrorism for Financial Services Business Regulated under the Regulatory Laws

Commission

means the Jersey Financial Services Commission

Money Laundering Order

means the Money Laundering (Jersey) Order 2008

relevant person

has the meaning given in Article 1(1) of the Money Laundering Order

REVISIONS TO COMMISSION AML/CFT HANDBOOKS

3 of 13

Contents

CONTENTS 1

Section 4 of Part 4 of the AML/CFT Handbook ....................................... 5 1.1 1.2

Overview ............................................................................................................................5 Section 4 of Part 4 of the AML/CFT Handbook ...........................................................5

1.3

Who would be affected? ..................................................................................................5

1.4

Questions ...........................................................................................................................6

APPENDIX A .......................................................................................................... 7 List of representative bodies who have been sent this consultation paper. .......................7

APPENDIX B........................................................................................................... 8 Draft Section 4 of Part 4 of the AML/CFT Handbook ...........................................................8

4 of 13

ISSUED NOVEMBER 2014

Section 4 of Part 4 of the AML/CFT Handbook

1

SECTION 4 OF PART 4 OF THE AML/CFT HANDBOOK

1.1

Overvie