Guide to Anti-Money Laundering Services Provider [AMLSP] Application tips and key provisions

The following paragraphs are extracted from the JFSC Guide to Anti-Money Laundering Services Provider [AMLSP] Application Process [relevant numbering has been left in]

INTRODUCTION

3.1 Any FSB or TCB that meets the requirements set out in Notice issued under Article 10 of the Money Laundering Jersey Order (January 2023) may choose to become an AMLSP and complete the AMLSP key person application workbook

• https://www.jerseyfsc.org/media/6435/amlsp-article-10-notice.pdf

3.2 The AMLSP appointment to relevant person workbook must be completed by the AMLSP on behalf of their customers conducting schedule 2 business who have appointed the AMLSP to provide AMLSP services.

These may be existing persons who need to register due to the Amendment or persons established on or after 30 January 2023 that need to register as a Schedule 2 business.

• https://www.jerseyfsc.org/media/6429/amlsp-appointment-to-relevant-person-workbook.xlsx

3.3 Both workbooks (collectively the AMLSP Workbooks) should be submitted via Authorisations@jerseyfsc.org .

• It is recommended that the AMLSP Workbooks are submitted by the Money Laundering Compliance Officer who in the vast majority of cases is the designated person for the JFSC Portal.

THE AMLSP HAS ULTIMATE RESPONSIBILITY FOR OVERSIGHT OF THE CONTENT OF ANY SUBMISSION

3.4 Notwithstanding this, the board, or equivalent of the AMLSP has ultimate responsibility for oversight of the content of any submission made on their behalf.

3.5 Please be advised that the JFSC may periodically require the AMLSP to provide additional information in the course of its AMLSP activities and it is therefore recommended that the AMLSP implements relevant reporting processes for this type of information.

3.6 Where the AMLSP feels it necessary to provide additional data to enable the JFSC to understand the response, this information should also be included in the comments section at the bottom of each relevant spreadsheet.

3.7 All the parts of the Excel Workbooks should be completed, and the AMLSP must ensure that persons named in the AMLSP Workbooks are provided with the declaration requirements at the front of the AMLSP Workbooks.

3.8 This declaration indicates.

• that the Applicant and the persons named in the AMLSP Workbooks,
• acknowledge that the JFSC may seek to verify the information provided in the AMLSP Workbooks including answers relating to fitness and propriety and
• that the JFSC has the authority to request information relating to Police records including, but not limited to, details of convictions (spent and unspent).

3.9 Before proceeding further with the steps set out below, the following should be read:

• 3.9.1 Notice: Issued under Article 9A (4) of the Money Laundering Order and https://www.jerseyfsc.org/media/6436/9a-4-notice.pdf
• 3.9.2 Notice: Issued under Article 10 of the Money Laundering Order https://www.jerseyfsc.org/media/6435/amlsp-article-10-notice.pdf

STEP 2. AMLSP KEY PERSON APPLICATION WORKBOOK - KEY PERSON DETAILS

4.1 The AMLSP will need to provide a list of individuals that may be appointed as AMLSP Direct Customer MLCOs and AMLSP Direct Customer MLROs.

4.2 The JFSC has established criteria in the Article 9A (4) Notice (b) for persons who may be an AMLSP MLCO and/or AMLSP MLROs (AMLSP MLRO).

• https://www.jerseyfsc.org/media/6436/9a-4-notice.pdf

The AMLSP must list individuals who it proposes to fulfil those roles in the AMLSP Key Person Application Workbook.

4.3 The Applicant can provide details of more than one individual to fulfil the AMLSP MLCO and AMLSP MLRO roles using the appropriate fields in the form.

4.4 The Applicant is responsible for determining the eligibility of the individuals who may be the AMLSP MLCO and AMLSP MLRO.

• The Handbook at sections 18.2.3 and 18.2.4 sets out the JFSC’s expectations regarding individuals the AMLSP appoints as AMLSP MLCO and MLRO.

HR SCREENING

4.5 Article 11(1)(d) of the Money Laundering Order requires a relevant person to maintain appropriate and consistent policies and procedures relating to screening of employees and under Section 9.2 paragraph 8 of the Handbook, employees should be screened prior to onboarding and where there is a subsequent significant change in an employee’s role.

JFSC TESTS FOR APPROVAL

4.6 On receipt of the AMLSP Key Person Application Workbook, the JFSC will consider whether each individual is fit and proper in accordance with Article 14(4) of the Supervisory Bodies Law and may verify the information provided about each individual.

4.7 No individual shall become an AMLSP MLCOs and AMLSP MLROs unless:

• 4.7.1 their name has been notified to the JFSC by the AMLSP
• 4.7.2 the JFSC has notified the AMLSP in writing that they have no objection to those individuals as listed in the AMLSP Key Person Application Workbook being an AMLSP MLCO and/or an AMLSP MLRO.

4.7.3 The JFSC may refuse to provide a no objection to an individual if the JFSC is not satisfied that the person is fit and proper to hold the position of AMLSP MLCO and/or an AMLSP MLRO.

4.8 Where an AMLSP Key Person Application Workbook contains a list of more than one individual to be AMLSP MLCO and/or a AMLSP MLRO the no objection may relate to one or more of them.

4.9 Where the JFSC is not satisfied that the individual is fit and proper in accordance with Article 14 (4) the Supervisory Bodies Law the JFSC will contact that individual directly.

Source

• https://www.jerseyfsc.org/media/6441/guidance-for-amlsp-workbooks.pdf