L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Draft legislation on central register access

1. Introduction

​​Following a consult​ation 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.

Proposed access will be for persons obliged to conduct customer due diligence (“CDD") in accordance with the Money Laundering (Jersey) Order 2008 (the “MLO"). 

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 on proposals to enable obliged entity access to the central register of beneficial ownership and control. 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.

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:

    1. Deliver obliged entity access in 2024; and
    2. Develop and deliver legitimate interest access in a leading timeframe.

This consultation

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 Jersey's Central Register​

Data protection

The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018. For more information, see the Department for the Economy privacy notices and retention schedule on gov.je

Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information (FOI) request requires it, but no personal data may be released

 

Are you responding to this consultation as: *

 

Please provide comments on the Amendment Law attached per Appendix B of the consultation paper