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Official Gazette of the States of Alderney

PROPOSED AML/CFT FRAMEWORK

Alderney Offical Gazette Volume 15 Number 16 (States ID: 0150031)
Date: 5th June, 2008

PROPOSED AML/CFT FRAMEWORK FOR FIRMS OF LEGAL PROFESSIONALS, ACCOUNTANTSAND ESTATE AGENTS

The  Guernsey  Financial  Services  Commission  has  published  a  consultation  paper, draft legislation and a handbook containing rules and guidance on a proposed anti- money laundering and counter terrorist financing framework for firms (including sole practitioners)  of  legal  professionals,  accountants  and  estate  agents  operating  in  or from within the Bailiwick. It is proposed the framework will cover:

• Estate agency – things done by a person in the course of a business pursuant to instructions received from another person (‘a client’) who wishes to dispose of  or  acquire  an  interest  in  or  in  respect  of  real  property  (including  for  the avoidance of  doubt a leasehold interest):
  • (a)  for the purpose of or with a view to effecting the introduction to the client of  a third person who wishes to acquire or (as the case may be) dispose of such an interest, and
  • (b) after such an introduction has been effected in the course of that business, for  the  purpose  of   securing  the  disposal  or  (as  the  case  may  be)  the acquisition of  that interest.
• Legal  and  accountancy  services  –  the  business  of  lawyer,  notary  or  other independent legal professional, or accountant, when they prepare for or carry out transactions for a client in relation to the following activities:
  • (a) the acquisition or disposal of  an interest in or in respect of  real     property (including for the avoidance of  doubt a leasehold interest);
  • (b) the management of  client money, securities or other assets;
  • (c) the management of  bank, savings or securities accounts;
  • (d) the organisation of contributions for the creation, operation, management or administration of  companies;
  • (e) the creation, operation, management of administration of legal persons or arrangements, and the acquisition or disposal of  business entities.
The consultation paper, draft legislation and handbook referred to above are available from the legislation and guidance section of the countering financial crime chapter of the Commission’s website at www.gfsc.gg.

Comments   on   the   proposed   framework   should   be   provided   to   the   Policy   and International Affairs Division of the Guernsey Financial Services Commission by the close of business on 3rd July, 2008. The Commission’s address is:

Guernsey Financial Services Commission
PO Box 128
La Plaiderie Chambers
La Plaiderie
St Peter Port
Guernsey GY1 3HQ
All Volumes


VOLUME 19
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VOLUME 18
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VOLUME 17
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VOLUME 16
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VOLUME 15
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VOLUME 14
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VOLUME 13
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VOLUME 12
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VOLUME 11
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VOLUME 10
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  Contact Joanna Parmentier - info@alderney.gov.gg | Tel: +44 (0)1481 822811 | Fax: +44 (0)1481 822436 | log in | Uncontrolled Copy - 2012-05-21 18:25:13
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