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JFSC clarification on AMLSP Schedule 2 applications

19/06/2024

Following some confusion, the JFSC has provided clear and concise guidance [see below] on the process for Schedule 2 applications, particularly when a regulated entity is acting as an anti-money laundering service provider.

The key facts are

  1. If you appoint an AMLSP for a Schedule 2 application, then the AMLSP must apply for registration on your behalf through the AMLSP appointment to the relevant person workbook.
  2. If you want to apply for schedule 2 registration and wish to avoid appointing an AMLSP, submit a Supervisory Bodies Law (SBL) form through myJFSC.
CONCISE GUIDANCE
CONCISE GUIDANCE SUMMARISED BELOW
  1. If you appoint an AMLSP for a Schedule 2 application, then the AMLSP must apply for registration on your behalf through the AMLSP appointment to the relevant person workbook.
    1. https://www.jerseyfsc.org/media/6694/amlsp-appointment-to-relevant-person-workbook.xlsx
  1. AMLSPS must
    1. Submit the AMLSP workbook rather than the SBL Portal application,
    2. As it prevents the incorrect fee from being charged and ensures the JFSC knows the AMLSP relationship.
  2. SBL applications sent in error –
    1. If you know of any SBL applications sent in error where an AMLSP relationship exists, please
      • Email Authorisations@jerseyfsc.org requesting to withdraw these and
      • Complete an AMLSP workbook to replace them.
  1. Guidance, guidelines and legal notices for persons wanting to become or use an AMLSP are available on the JFSC website:
    1. Anti-Money Laundering Services Provider FAQs Guidance and Legal Notices.
    2. https://www.jerseyfsc.org/industry/sectors/anti-money-laundering-services-provider-faqs-guidance-and-legal-notices/
  1. If you want to apply for schedule 2 registration and wish to avoid appointing an AMLSP, submit a Supervisory Bodies Law (SBL) form through myJFSC.
    1. Please review the JFSC guidance for the Schedule 2 Supervisory Bodies Law Registration Form - myJFSC.
    2. https://www.jerseyfsc.org/media/7319/sbl-form-portal-guidance-january-2024.pdf

The JFSC has also had questions about

  • Q =
    • which parties can access certificates and invoices for successful Schedule 2 applicants?
  • A = JFSC SAYS:
    • Currently, The JFSC forwards this documentation by email to the “Primary Contact and Position” party in the workbook.
    • It’s important that you list the correct individual and email address in this section.
    • If the named individual doesn’t receive the documentation after approval, please contact
DIGITISED
  • Future Schedule 2 submissions by AMLSPs will also be digitised and completed through myJFSC.
  • The JFSC will give a further update once the form has been digitised.
Source

https://lnkd.in/esuF25Gx

 

 

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