The JEAA held their 2nd breakfast meeting of 2020 on Wednesday 4 March in La Petite Pomme Suite at the Pomme d’Or Hotel. The event was attended by 38 member agents and 9 speakers with associated representatives.
Gill Hunt – President of the JEAA and NAEA Propertymark Regional Executive for the Channel Islands opened the event by thanking members for attending and giving a brief update on the committee’s attendance at the NAEA Propertymark annual conference in London on 26 February and also updated members on the latest house price statistics for 2019 that had recently been released. Gill further informed members that the JEAA would be hosting a training event on Anti-Money Laundering on 8 September at the L’Horizon Hotel.
Michelle Humphries-Foott, Housing Specialist from Environmental Health spoke about the Public Health and Safety(Rented Dwellings) (Jersey) Law 2018 and highlighted the minimum standards that should be adopted by landlords and the 29 hazards outlined in the Order. Michelle further talked about the Rent Safe scheme, currently a voluntary scheme and explained the 3, 4 and 5 star ratings. Questions followed.
Paul Marsden from Trading Standards spoke about the Consumer Protection (Unfair Practices) Jersey Law 2018 and reminded members that the law applies to any business activity that affects the consumer. The five main categories of the law cover – Engaging in a banned practice; Misleading Action, giving misleading information to consumers,Misleading Omission, failing to give necessary information to consumers, Acting aggressively and Failing to act in accordance with professional diligence.These were explained in further detail on the slides.
The Jersey Financial Services Commission (JFSC), Pooled Supervision Unit were represented by Sam Davison –Head of Unit, Caroline Morgan, Pia Holm – Senior Manager, Harry Gaughran –Trainee Supervisor, Hollie Rann – Trainee Supervisor and Aggie De Freitas –Policy Team
The presentation highlighted thatestate agents are subject to effective systems for monitoring and ensuringcompliance with AML/CFT requirements under the Proceeds of Crime (SupervisoryBodies) (Jersey) Law 2008. An overview of money laundering vulnerabilities,including mitigating factors, recent JFSC work, and an update on the handbookswere other topics covered.
The role of the money laundering reporting officer (MLRO) was highlighted and the need for all agents to have effective training awareness for all staff, the need for adequate risk assessment and effective policies and procedures in place.
The meeting concluded with networking and Gill thanked the speakers and their associates for attending and for their informative presentations. In addition Gill thanked all members for attending.
The JEAA holds breakfast meetings regularly for members to attend which demonstrates their professionalism and commitment to the industry by keeping up to date with all the latest legislation.
We support our member firms in their Membership of NAEA Propertymark and encourage all members to undertake the professional exams for NAEA Propertymark (Sales) and ARLA Propertymark(Lettings). A number of our members have already successfully passed NAEA and ARLA Propertymark qualifications in 2020.
We would encourage all vendors and buyers to choose a JEAA member agent to ensure best practice. Our member agents can be found here - https://www.jeaa.je/members