| Department | Department for the Economy |
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| Start date | 26/04/2024 |
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| End date | 07/06/2024 |
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| Type of consultation | White paper |
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| Deadline for comments | 07/06/2024 |
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About the consultation
Following the Obliged Entity access to information consultation in October 2022, we are now seeking views on draft legislation which will enable access to Jersey's central register of beneficial ownership and control for obliged entities.
Draft Financial Services (Disclosure and Provision of Information) (Jersey) Amendment Law 202-
Proposed access will be for persons obliged to conduct customer due diligence (“CDD") in accordance with the
Money Laundering (Jersey) Order 2008 (the “MLO").
This consultation seeks feedback on draft legislation concerning obliged entity access which will meet the requirement of limb (a) of the revised commitment (Limb (b) of the commitment relating to legitimate interest access, whilst briefly discussed, is not directly consulted in this paper.)
The consultation paper provides the background information, and invites comments to the draft legislation (which is included as Appendix B).
Consultation Paper: Access to information on Jersey's Central Register of Companies and legal persons
Background
Jersey is proud to be recognised as a leading centre for financial services internationally, with a strong commitment to the implementation of international standards for anti-money laundering (AML), counter-terrorist financing (CFT) and counter proliferation financing (CPF), with a view to creating an effective regime for preventing financial crime.
In 2022, the Government of Jersey issued a high-level
consultation paper on proposals to enable obliged entity access to the central register of beneficial ownership and control.
Consultation: Obliged Entity Access to Information
Responses to the consultation were generally supportive of the approach, noting that the implementation of the policy may bring benefits to the industry. A
response paper was published in December 2022.
Consultation Response and Policy Paper: Obliged Entity Access to Information response paper
The intention was to implement obliged entity access in 2023, in line with a
2019 commitment on transparency of beneficial ownership and control, however, following decisions in the Court of Justice of the European Union (the CJEU), the Government of Jersey together with the Governments of Guernsey and the Isle of Man sought legal advice as to the approach on access to the registers.
As a result of those decisions and the advice obtained, a
revised joint commitment was issued in December 2023. This commitment supersedes the 2019 commitment published by the Governments of Guernsey, Jersey and the Isle of Man.
The 2023 commitment agreed to:
- deliver obliged entity access in 2024
develop and deliver legitimate interest access in a leading timeframe
How to submit comments to the consultation
This consultation is now closed and the responses are published below.
Data protection
The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018.
Find more information in the
Department for the Economy privacy notice.
The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent.
Types of publishing may include:
- sending to other interested parties on request
- sending to the Scrutiny Office
- quoting in a published report
- reporting in the media
- publishing on the Government website
- listing on a consultation summary
Confidential responses will still be included in any summary of statistical information received and views expressed.
Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.
Responses to the consultation
Consultation Response: Access to information on Jersey's Central Register of Companies and Legal Persons
gov.je