JFSC SCH2 Registration Extension for Directors and Family Offices ONLY
Industry update | 19 April 2023 RE Exemptions – Registration Extension for Directors and Family Offices
Good news, Following the JFSCs update on Schedule 2 business registrations, and its publication of revised Director FAQs [Friday 14 April] an extension to the registration period is being granted to the FOLLOWING two groups ONLY
- Directors; and
- Family Offices
- Family offices that do not use a PTC administered by a person registered to carry out trust company business in Jersey (Family Offices).
These businesses, being extended from 30 JUNE to midnight on 31 August 2023.
The extension is being granted because both are new sectors, predominantly individuals, who are currently outside of the scope of regulation.
This additional registration period will allow for further engagement to ensure those in scope Directors and PTCs better understand their new obligations and how they might meet those obligations.
To support this, the JFSC will be:
- Hosting a series of events aimed at discrete groups of directors’ in the week commencing 24 April
- Publishing further guidance on PTCs on 12 May
- Hosting a series of drop-in sessions throughout May 2023 to provide support to Directors and PTCs who may wish to seek support with completing the registration process.
Director FAQs [Friday 14 April] https://www.jerseyfsc.org/industry/financial-crime/schedule-2-business-directors-faqs/
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