|Isle of Man||Italy|
Yes. The Ministry for External Relations, in conjunction with the Minister, co-ordinates the introduction of sanctions measures and relevant sanctions legislation.
Sanctions which are in effect generally apply to:
As Jersey is not a member of the UN or the EU, UN sanctions do not directly apply to Jersey. However, as a crown dependency of the UK, both EU and UN sanctions regimes have been substantially implemented and are observed in Jersey.
Yes. In addition to the sanctions implemented by the UN and EU, Jersey has an autonomous terrorist sanctions regime and has powers over the regulated sector under the Terrorism (Jersey) Law 2002 and related legislation such as the Terrorist Asset-Freezing (Jersey) Law 2011.
The most frequently applied measures are:
In general terms, it is a criminal offence to:
Yes. The Jersey Financial Services website displays a list of individuals and entities, subject to sanctions with a direct link to the UK government consolidated list of sanctions targets. This list comprises of all individuals and entities that have been designated by the UN, the EU and the UK. The consolidated list currently comprises of around 2,700 designated individuals and entities.
Yes. Other lists include:
Yes. All sanctions-related licence applications, notifications and authorisations are made by the Ministry for External Relations.
It is a criminal offence to breach a financial sanction without an appropriate licence or authorisation. The penalties for breaching sanctions can vary across the various regimes, however, in general terms, any individual found guilty of an offence shall be liable on conviction to imprisonment and/or a fine.
Corporate entities acting in breach of financial sanctions can also commit a criminal offence and be liable to an unlimited fine. Where an offence has been committed by a corporate body and is proven to have been committed with the consent or connivance of, or neglect on the part of, a director, manager, secretary or similar officer of the corporate body, or any individual who was purporting to act in any such capacity, that individual, as well as the corporate body, is guilty of an offence and can be imprisoned or fined.
Any individual found guilty of an offence is liable on conviction to imprisonment and/or a fine. Prosecutions may take place not only against a company, but also key players within a company if a breach takes place with their connivance or neglect.
The Jersey Financial Services Commission has overall regulatory responsibility for ensuring that the finance industry complies with sanctions orders. The commission now publishes sanctions guidance on its website to raise awareness and understanding of sanctions matters.
PO Box 267
14-18 Castle Street
The Ministry for External Relations in conjunction with the Minister, co-ordinates the introduction of sanctions measures and relevant sanctions legislation.
Ministry of External Relations
PO Box 140
Cyril le Marquand House
© Eversheds Sutherland 2017. All rights reserved. Eversheds Sutherland is a global provider of legal services operating through various separate and distinct legal entities.
Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.