BACKGROUND In Jersey, all companies and limited partnerships require consent from the JFSC to issue shares or create partnership interests (a COBO Consent) AND With effect from 1 January 2017; these COBO Consents are changing to facilitate the maintenance of the JFSC’s register of beneficial owners. WHY THE CHANGE? Jersey Government has agreed with the […]

Changes The Companies Registry at the Jersey Financial Services Commission (JFSC) is making changes to the way the Companies Registry collects information concerning beneficial ownership and control (BO). From 1 January 2017 onwards, we will require companies and partnerships registered at the JFSC to complete a C17S form detailing current beneficial ownership and control by […]

JFSC AML/CFT Handbooks: Appendix D1 and D2 updated November 30 Links to the latest documents are here http://www.jerseyfsc.org/pdf/Part-1-Appendix-D1-AML-Handbook.pdf http://www.jerseyfsc.org/pdf/Part-1-Appendix-D2-AML-Handbook.pdf http://www.jerseyfsc.org/pdf/Part-1-Appendix-D2-amendments-30-November-2016.pdf

JFSC and Government of Jersey gave a presentation on 6 December on how UN and EU sanctions are implemented in and affect Jersey businesses. Key points that may not always be as prominent as they should be:- The process for suspected sanctions breaches to Minister For External Relations  externalrelations@gov.je The need to obtain a license […]

02 November 2016 The Government of Jersey has today published an enhanced policy on beneficial ownership and a register of directors. Following a public consultation earlier this year the policy details the development of a domestic policy to ensure that Jersey continues to fulfil its obligation as a responsible international finance centre. Independent endorsement The […]

Christopher Byrne, the founder and managing director of Jersey-based IFA firm Lumiere Wealth, has been arrested in connection with the firm’s ties to the Guernsey-registered Providence funds. A statement from the Jersey Financial Services Commission (JFSC) confirmed that Byrne had been arrested on 7 October “in connection with the current investigation regarding Lumiere Wealth”. The […]

Jersey has introduced a ‘regulatory sandbox’ to enable businesses that provide virtual currency exchange services to experiment and test new products and applications in the crown dependency. Changes to two pieces of legislation that were approved unanimously in June are now in force. The coupled effect of the reforms and an exemption order means that […]

On 21 June 2012, the Chief Minister, Senator Ian Gorst, issued a statement clarifying that Jersey has no wish, or need, to engage with those who seek to involve the Island in aggressive tax planning schemes to avoid UK tax. With effect from 1st of October 2014, we expect service providers to ensure that they […]