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Deputy Moz Scott
Chair
Economic and International Affairs Scrutiny Panel By email
24th of February 2023 Dear Deputy Scott ,
Thank you for your letter dated 9 February 2023 in respect of the draft Sanctions and Asset- Freezing (Amendment No.3) (Jersey) Law 202-. I would like to thank the Panel for its engagement on the draft Law.
The draft Law and Proposition has been shared with Jersey Finance who will highlight it to the financial services industry in the Industry Insight newsletter on Monday, inviting comments from its members. A Financial Sanctions notice has also been published on the Jersey Gazette, informing the public and the large number email subscribers in industry of the proposed amendments, and inviting any comments or questions to be shared with the Financial Sanctions Implementation Unit.
I note the Economic and International Affairs Scrutiny Panel have undertaken a short call for evidence with industry stakeholders and I would be grateful if you would confirm when that the call for evidence will close.
The draft Law is an essential piece of legislation that is critical to Jersey's compliance with international standards set by the Financial Action Task Force and as such forms part of the Island's preparation and submission of material for its MONEYVAL assessment later this year. It is therefore important that the draft Law and proposition can be debated by the Assembly as soon as is possible at the proposed date in March.
I look forward to hearing from you in due course. Kind regards,
Deputy Ian Gorst
Assistant Minister for External Relations
19-21 Broad Street | St Helier | Jersey | JE2 3RR | Tel: +44 (0) 1534 44062