22 December 2022
Today the Government of Jersey published its response and policy paper on obliged entity
access to the beneficial ownership register when conducting customer due diligence
(CDD). Permitting such access will ensure that Jersey remains aligned with developing
international standards in this area.
Jersey’s Minister of External Relations and Financial Services, Deputy Philip Ozouf
welcomed the publication, commenting: “The publication of this consultation response
demonstrates Jersey’s commitment to enhancing access to beneficial ownership information
where it is right and proper to do so. This policy demonstrates that Jersey continues to
effectively develop and implement policies in line with evolving international standards,
thereby maintaining its position as a leading jurisdiction in respect of access to accurate and
up to date beneficial ownership information.”
In 2019, the Crown Dependencies (Guernsey, the Isle of Man and Jersey) (‘we’) made a
public commitment concerning Registers of beneficial ownership of companies (the “public
commitment”). We have a longstanding, and independently assessed, track record of
meeting international standards. We are proud of our global leadership in tax
cooperation, combatting money laundering and countering the financing of terrorism and
in providing appropriate and effective transparency.
The recent judgment of the Court of Justice of the European Union impacts considerations in the Crown Dependencies around implementing the
public commitment in line with consideration of factors around data protection and human
rights. We have all committed to provide access to obliged entities for the purpose of
conducting customer due diligence by the end of 2022 and have therefore consulted on
the position and produced policy positions. However, in light of this CJEU judgment,
implementation of this legislation will be delayed for a short period to enable
consideration of its impact and obtain specialist legal advice, this is expected to be
completed in early 2023. Subject to that advice, our intention is to adopt legislation in our
respective jurisdictions as soon as possible after this time.
In respect of extending access beyond obliged entities, we intend to obtain expert legal
advice on all relevant issues and, in due course, intend to review the public commitment in
line with that advice and any recent development of international best practice
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