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Ogier’s head of risk and compliance, Peter Derrick, is joining speakers from the National Crime Agency and The Law Society at a major compliance conference focusing on anti-money laundering regulation for legal services businesses today.
Derrick, a member of the International Compliance Associate who has spent more than 15 years in compliance roles in Jersey, is speaking about “UK regulation post-EU: Jersey and Guernsey” in a presentation taking in the islands’ MoneyVal AML ratings, the future of equivalency status and the roles of promotional bodies and regulators.
Derrick says: “The status of Jersey, Guernsey and the Isle of Man with the EU and the arrangements each island has come to with the Commission in regard to offshore finance offers examples of how the UK’s relationship with Europe could look post Brexit. “Jersey has recently announced the establishment of a high-level working group across all government departments to identify the implications and opportunities coming from the UK’s departure from the EU, and recent MoneyVal inspections of all three islands have provided some of the highest approval ratings given to any jurisdiction worldwide in relation to implementation of the Financial Action Task Force AML recommendations.
“The islands continue their efforts to maintain these ratings with Jersey recently publishing proposals to provide additional guidance in relation to investment funds.”
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