Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Latest news
  3. Jersey Finance comments on UK Parliament debate
Latest news
Jersey Finance comments on UK Parliament debate
03 May 2018 London
Reporter: Jenna Lomax

Image: Shutterstock
The high standards and commitment to transparency have been recognised, said Geoff Cook, CEO of Jersey Finance, commenting on UK House of Commons debate, which considered a set of amendments to the UK Sanctions and Anti-Money Laundering Bill.

It concluded that the amendment, with respect to the overseas territories, was carried while the amendment tabled with respect to the Crown dependencies was withdrawn.

The withdrawal of the amendment, which provided for UK domestic policy to be applied to the Crown dependencies in respect of public registers, has been welcomed by Jersey Finance.

It underlines the contention that the UK Parliament cannot and should not seek to legislate for the Crown dependencies.

Commenting on the ruling Cook said: “Jersey continues to remain absolutely aligned with the UK in terms of its commitment to combat money laundering and financial crime. We are confident that our verified central register of beneficial ownership, backed up by trust and company service provider licensing, is fully in line with international standards and remains the best way of achieving continuing compliance with international standards.”

He added: “While this outcome is a sensible and pragmatic result for the jurisdiction, the debate has given Jersey another opportunity to clarify its approach to managing and sharing beneficial ownership information.”

“Information on our central register, which is tried and tested for almost three decades, is available to the people who need that vital information and we are constantly working with law enforcement agencies and other relevant authorities to ensure they have everything they need.”

He concluded: “We will continue to work closely with the UK and international regulatory bodies to ensure that we remain a first class-transparent centre of excellence.”
← Previous latest article

Equinoxe Alternative Investment rebrands
Next latest article →

CKV Spaarbank chooses Wolters Kluwer
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today