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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (31787)	10/25/2004 8:08:12 PM
From: Taikun	Read Replies (2) \| Respond to of 39344

Claude, There is a separate section regarding 'Anti-Laundering'. In the International section the MOU with the US SEC is centred on compliance with regulatory issues in the respective nations and compliance with those regulations. Disclosure of non-public information is provided for. The following from International: INTRODUCTION The Jersey Financial Services Commission (JFSC) is determined to meet international standards in its regulation of Jersey's finance centre. The JFSC therefore is a member of or works with various international standard setting bodies. It also welcomes evaluations by international bodies, individuals and specific countries. A number of such evaluations have been conducted recently, or are in train. MEMBERSHIP OF INTERNATIONAL ORGANISATIONS Standards of financial services regulation and techniques for defeating financial fraud or the laundering of criminal proceeds are constantly developing. The JFSC is willing and able to engage in discussions of international standards. It does so through membership of or association with the following international organisations. The International Organisation of Securities Commissions (IOSCO) - as a member The International Association of Insurance Supervisors (IAIS) and the Offshore Group of Insurance Supervisors (OGIS) - as a member The Offshore Group of Banking Supervisors (OGBS) The Organisation for Economic Co-operation and Development (OECD) - through the United Kingdom's membership and official declaration of the Island's association dated 19th July 1990. The United Nations Global Programme Against Money Laundering - as a participant. Through its membership of the Offshore Group of Banking Supervisors, it works with: The Basle Committee on Banking Supervision The Financial Action Task Force (FATF) on money laundering Ref Paragraphs: 10, 11, 15, 16. jerseyfsc.org Anti-laundering is not referred to in the MOU. The MOU has much broader scope than what is covered in Anti-Laundering, covering financial fraud. How can you be certain tax unreporting/avoidance does not fall under the scope of the MOU? David