Prescribed Business Return (Form 154) Template

Summary

This is the online template for the GFSC's Prescribed Business Return (Form 154), used to collect statistical and risk data from registered Prescribed Businesses for anti-money laundering and countering financing of terrorism supervision. It is a data-collection form rather than a standalone legal instrument, and its content is defined by the accompanying PB Return guidance document and the Handbook on Countering Financial Crime and Terrorist Financing.

• Who must file: All registered Prescribed Businesses under Schedule 2 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 must submit one PB Return covering all their Schedule 2 activities.
• Reporting period: Covers 1 July of the previous year to 30 June of the reporting year, with data given as at period end or as an accumulation of occurrences during the period (e.g. for occasional transactions).
• Submission deadline: The completed PB Return is due for submission by 31 October.
• Content covered: Depending on the activities undertaken, firms report data on accountancy services, legal services and/or estate agency, including client/customer numbers and locations, transaction values, referral sources, licence types of counterparties, and client money arrangements.
• Declaration: Submission requires confirming the information is complete and correct, confirming the guidance document has been read, and undertaking to notify the Commission without delay of any material changes to the information supplied.

The form itself does not create new substantive AML/CFT rules but operationalises an existing recurring reporting obligation for Prescribed Businesses (DNFBPs) supervised by the GFSC.

Key obligations

• Registered Prescribed Businesses must submit one Prescribed Business Return annually covering all Schedule 2 activities undertaken.
• The return must be submitted by 31 October, covering the Reporting Period from 1 July of the previous year to 30 June of the reporting year.
• All sections of the PB Return, including mandatory questions, must be completed fully.
• The firm must confirm it has read the PB Return guidance document before submission.
• The firm must inform the Commission without delay of any material changes to the information supplied on the form after submission.

Applies to

Prescribed Businesses, Accountants (Auditors, External Accountants, Insolvency Practitioners, Tax Advisers), Legal Services providers, Estate Agents

Deadlines

• 31 October: Annual deadline for submission of the Prescribed Business Return.
• 1 July to 30 June: The Reporting Period covered by each PB Return, running from 1 July of the previous year to 30 June of the reporting year.