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Proceeds of Crime (Supervisory Bodies) (Designation of Supervisory Bodies) (Jersey) Order 2008: Amendment: Law Drafting

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 10 January 2013:

Decision Reference:  MD-E-2013-0004 

Decision Summary Title :

Regulation of Lawyers and Accountants for Anti Money Laundering and Countering the Financing of Terrorism

Date of Decision Summary:

 09 January 2013

Decision Summary Author:

 

Director,

Finance Industry Development

Decision Summary:

Public or Exempt?

 

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Regulation of Lawyers and Accountants for Anti Money Laundering and Countering the Financing of Terrorism

Date of Written Report:

 09 January 2013

Written Report Author:

Director,

Finance Industry Development

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:

  

Regulation of Lawyers and Accountants for Anti Money Laundering and Countering the Financing of Terrorism.

 

Decision(s):

 

The Minister authorised the drafting of an amendment to the Proceeds of Crime (Supervisory Bodies) (Designation of Supervisory Bodies) (Jersey) Order 2008 (the “Designation Order”) in relation to the regulation of lawyers and accountants for Anti Money Laundering and Countering the Financing of Terrorism (“AML/CFT”).

 

The Law Draftsman’s office is to be instructed by the Jersey Financial Services Commission (“JFSC”) to draft an amendment to Article 3 of the Designation Order so that:

  1. the sunset provision relating to the designation of the JFSC as the AML/CFT supervisory body for lawyers is extended to 19 March 2016; and
  2. the sunset provision relating to the designation of the JFSC as the AML/CFT supervisory body for accountants is removed (i.e. so that the designation of the JFSC no longer has an end-date).

 

Reason(s) for Decision:

 

The designation of the JFSC as the body responsible for supervising the compliance of lawyers and accountants with Jersey’s AML/CFT provisions has, to date, always been subject to a statutory sunset provision. That sunset provision is due to expire in March 2013.

The Law Society has requested that the designation of the JFSC be extended for a further 3 years to 19 March 2016.

The Jersey Society of Chartered and Certified Accountants (“JSCCA”) which represents the accountancy profession in Jersey, has stated that it is content for the designation of the JFSC as the AML/CFT supervisory body for accountants to be extended beyond 19 March 2013 without a further sunset provision (i.e. so that the designation of the JFSC would be for the foreseeable future).

 

 

Resource Implications:

 

This decision has no financial or manpower implications for the States of Jersey.

 

Action required:

 

Instructions are to be produced by the JFSC to go to the Law Draftsman to draft an amendment to the Proceeds of Crime (Supervisory Bodies) (Designation of Supervisory Bodies) (Jersey) Order 2008.

 

Signature: Senator A.J.H.Maclean

 

 

 

Position: Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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