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Financial Crime - Moneyval Report: Legislation Amendments: Law drafting instructions

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A decision made 19 December 2017:

MINISTERIAL DECISION REFERENCE:    MD-C-2017- 159

DECISION SUMMARY TITLE:  Law Drafting Instructions – Financial Crime amendments

DECISION SUMMARY AUTHOR:

Lead Policy Adviser: Financial Crime

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

 

REPORT TITLE:  Law drafting Instructions – Miscellaneous Drafting Instructions following the Jersey MONEYVAL Report

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

Lead Policy Adviser: Financial Crime

IS THE REPORT PUBLIC OR EXEMPT 

Exempt pursuant to Article 35 of the Freedom of Information (Jersey) Law 2011 (Formulation and development of policies)

DECISION AND REASON FOR THE DECISION:

The Chief Minister approved the submission of law drafting instructions on:

i)                     certain miscellaneous amendments to legislation following the publication of the 4th round report on Jersey’s compliance with the FATF Recommendations (2003) by the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (“Moneyval”);

ii)                   a further amendment requested by the Attorney General concerning the enforcement of compensation orders made in criminal proceedings in other jurisdictions.

 

Instructions have been prepared by the Law Officers’ Department (“LOD”) and the Chief Minister’s Department (“CMD”), and the proposed changes have been agreed upon in principle by the Jersey Financial Crime Strategy Group (“JFCSG”) as part of a three stage process of work on legislative drafting around financial crime.

 

RESOURCE IMPLICATIONS:

Law drafting time will be required to draft these amendments.  There are no other resource implications for the States of Jersey as a result of this decision.

ACTION REQUIRED:

That law drafting instructions be sent by the Financial Services Unit to the Law Draftsman requesting that the amendment be drafted. 

SIGNATURE:

 

SENATOR IAN GORST

POSITION:

 

CHIEF MINISTER

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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