Annual declaration template letter for banking business

Summary

This is a template letter that a registered deposit taking business (bank) in Jersey sends to the JFSC to satisfy the annual declaration requirement under Section 6.6 of the Codes of Practice for Deposit taking Business. It is a standard form for confirming ongoing regulatory compliance, not a rule itself.

• Declaration content: Confirms the registered person complies with the Banking Business (Jersey) Law 1991, the Banking Business (General Provisions) (Jersey) Order 2002, the Codes of Practice for Deposit taking Business, all other relevant regulatory legislation, and all relevant anti money laundering legislation.
• Records and systems: States that the registered person has maintained proper accounting records and adequate systems to enable compliance with those requirements.
• Exceptions: Requires any material exceptions to compliance to be listed, together with the action taken to prevent their repetition.
• Signatory: The letter is to be signed by the Managing Director or Branch Manager and addressed to the JFSC.

The document itself sets out the wording to be used rather than a standalone obligation, but its use is required by Section 6.6 of the Codes of Practice for Deposit taking Business, which is not reproduced here.

Key obligations

• The registered person must submit a signed declaration (by the Managing Director or Branch Manager) confirming compliance with the Banking Business (Jersey) Law 1991, the Banking Business (General Provisions) (Jersey) Order 2002, the Codes of Practice for Deposit taking Business, other relevant regulatory legislation, and anti money laundering legislation.
• The registered person must confirm it has maintained proper accounting records and adequate systems to enable compliance with those requirements.
• Any material exceptions to compliance must be disclosed in the declaration along with remedial action taken to prevent recurrence.

Applies to

registered persons conducting deposit taking business (banks)