Jersey:
PTCs And The Proceeds Of Crime (Jersey) Law 1999: New Guidance From The JFSC
To print this article, all you need is to be registered or login on Mondaq.com.
The JFSC has issued new guidance and FAQs for Private Trust
Companies and trustees in relation to the updated scope of the
Proceeds of Crime (Jersey) Law 1999.
The new guidance is largely in line with the Guidelines on
Interpretation issued by the JFSC in January, but with a few points
to note:
- there are a few hints pointing towards PTCs being more likely
to be in scope than out;
- a trustee that is a legal person will be considered in scope
"unless it is demonstrated to the contrary";
- there are specific factors to take into account when
considering whether or not acting as a trustee is being
"conducted as a business"; and
- PTCs are unlikely to be treated as "non-professional
trustees".
If you would like to discuss the new guidance, PTCs and POCL
generally, or anything else relating to POCL, please do not
hesitate to get in touch. Also please don't hesitate to get in
touch with my colleagues @Rajah Abusrewil, @Anouksha Patel and
@Adam Fellows in our Private Capital and Trusts team for
https://www.jerseyfsc.org/media/6631/ptc-family-office-faqs.pdf
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Criminal Law from Jersey
Direct Cheque Enforcement In The UAE
Hamdan AlShamsi Lawyers & Legal Consultants
As in many other jurisdictions, there are certain legal requirements and conditions that must be met for a cheque payment to be enforced in the UAE.
Extradition Process Between The UAE And India
Awatif Mohammad Shoqi Advocates & Legal Consultancy
The United Arab Emirates is a signatory of the Riyadh Arab Convention on Judicial Cooperation for Oman, Qatar, Saudi Arabia, Bahrain, Iraq, Algeria, Jordan, Kuwait, Lebanon, Libya, Tunisia and Morocco.
How Does The Extradition Process Work For Criminal Matters?
Awatif Mohammad Shoqi Advocates & Legal Consultancy
Extradition in common language, is understood as the process under which one country, on the request of another country, returns a requested person, to the requested country, based on crimes committed by the requested person in the requesting country.
Once A PEP, Not Always A PEP?
Ogier
Jersey has aligned with international best practice in providing the ability to declassify politically exposed persons.
International Perspective On Juvenile Justice
STA Law Firm
'No civilised society regards children as accountable for their actions to the same extent as adults ... The wisdom of protecting young children against the full rigour of the law is beyond argument.