Feedback on Consultation Paper + Amendment to the definition of Class O Financial Service Business – No. 7 2016

Feedback to a consultation on proposals to amend the definition of Class O to:

› clarify and amend the ultimate beneficial ownership element of the criteria to whom Class O services can be offered;

› provide transitional provisions in respect of existing registrations under the current wording of Class O; and

› provide new provisions to prevent Class O service providers, due to an ultimate beneficial owner’s change in residency, immediately falling foul of this criteria and thereby potentially conducting unauthorised business.

http://jerseyfsc.org/pdf/Consultation-Feedback-Paper-No-7-Amendment-Class-O-March-2017.pdf