News

THE JFSC and Government of Jersey - Stay at Home Order - Essential workers in Financial Services

30/03/2020

The JFSC is coordinating the Essential Workers Scheme for the financial services sector.

Regulated businesses will need to determine which of their workers need to go into the office. These essential workers will require certification in accordance with the attached notes and the folloiwng guidnace

Essential Workers Scheme and the JFSC -

  • Financial Services
    1. This scheme applies to all entities registered under the Financial Services (Jersey) Law, 1998, any bank licensed under the Banking Business (Jersey) law, 1991 or Category B permit holders under the Insurance Business (Jersey) Law, 1996.
      1. As noted below
        1. Please advise the JFCS of your key contact person and their mobile number by return email.
        2. You will need to provide your selected workers with the attached pro forma letter, which will act as their certification.
  • Other ‘Schedule 2’ entities
    1. should operate in accordance with the framework applying to the generality of businesses.
  • Accountancy firms registered under the Proceeds of Crime (Jersey) Law, 2008 must apply a separate approach,
    1. namely respond to the JFSC but to ESSENTIALWORKERSACCOUNTANTS@JERSEYFSC.ORG, rather than the email set out below, identifying a key point of contact who will identify a maximum of five essential workers permitted to go to the office.
  • Law firms
    1. should apply under a separate scheme to the Law Society.

Government of Jersey - Stay at Home Order - Essential workers in Financial Services

https://www.jerseyfsc.org/news-and-events/government-of-jersey-stay-at-home-order-essential-workers-in-financial-services/

The Government of Jersey has tonight made an announcement about important restrictions on working practices in response to coronavirus (Covid-19). That announcement is that a Stay at Home Order has now been made.

These restrictions will apply from tomorrow morning (Monday 30 March) at 0800 and will stipulate that only certain essential workers can work outside their homes and travel for the purpose of going to work.

We are supporting Government to make sure that the financial services sector has robust business continuity measures in place, balanced with prevailing health advice. The overarching approach to essential work must be the need to protect public health.

This scheme is  designed to ensure that only essential workers who are critical to the ongoing functionality of the financial services firms in Jersey can access business premises.

Essential Workers Scheme: Financial Services

We are coordinating the Essential Workers Scheme for the financial services sector. Regulated businesses will need to determine which of their workers need to go into the office. These essential workers will require certification in accordance with the attached notes.

Please advise THE JFSC of your key contact person and their mobile number by return email. You will need to provide your selected workers with the attached pro forma letter, which will act as their certification.

Employees should only be designated an essential worker if it is absolutely necessary that they must visit the business premises to ensure the ongoing functionality of the firm. Any employee who enters the business premises must adhere to strict social distancing and hygiene guidance.

Please note this does not apply to all financial services sectors. The ‘Notes’ attached detail the scope and alternative arrangements for law firms.

We recognise that these restrictions may impact your business. You may not be able to continue some activities. If you need to reduce or change your current working activities, it is essential that you prioritise critical services and the sfety of client assets. You must also continue to meet your regulatory requirements.

Extensions to deadlines

To support you during this time, we are relaxing certain upcoming deadlines and will imminently provide you with further details. We will continue to review and issue additional updates, as required.