Application for a natural person carrying on a single class of trust company business

Summary

This is a Jersey Financial Services Commission (JFSC) application form used by an individual (a natural person, not a company) who wishes to register to carry on a single class of trust company business under the Financial Services (Jersey) Law 1998. It covers activities such as acting as director, partner, company secretary, trustee of an express trust, or foundation council member, and sets out the personal, financial and integrity information the applicant must provide.

• Who must use it: Individuals (sole practitioners) seeking registration under Article 8 of the FS(J)L to carry on a single class of trust company business as a primary or secondary activity.
• Content required: Personal details, employment and disciplinary history, financial resources and insurance arrangements, integrity and financial standing disclosures, a business plan, and a signed declaration and acknowledgment.
• Financial resources: Applicants must evidence net unencumbered liquid assets of at least £25,000 and confirm appropriate professional indemnity insurance and directors and officers insurance (or self insure to a minimum of £1 million).
• Submission requirements: A completed paper application, a certified copy of the passport or national identity card, and payment of the applicable registration fee (invoiced after submission) must be provided; a myProfile application is not additionally required.
• Ongoing duties: Applicants must disclose any significant past events relevant to the JFSC's determination and must give the JFSC written notice forthwith of any material change or event affecting the application while it remains undetermined.
• Offences: Knowingly or recklessly providing false or misleading information in connection with the application is a criminal offence under Article 28 of the FS(J)L, punishable by up to five years' imprisonment or a fine, or both.

The form itself is procedural and does not set a fixed filing deadline; it applies whenever an individual seeks this specific class of registration and must be used exactly as prescribed, since deviation may invalidate the application.

Key obligations

• Applicants must complete and submit the prescribed Application Form together with all required supporting documents; deviation from the form may invalidate the application.
• Applicants must provide a certified copy of their passport or national identity card (if not previously submitted) and pay the applicable application and registration fee.
• Applicants must evidence net unencumbered liquid assets of at least £25,000 as part of financial resources requirements.
• Applicants must confirm appropriate professional indemnity insurance and directors and officers insurance is in place, or self insure to a minimum of £1 million.
• Applicants must disclose details of any significant past events relevant to the JFSC's determination of the application.
• Applicants must give the JFSC written notice forthwith of any alteration to, or event affecting, information supplied while the application is pending determination.
• Applicants must keep a copy of the submitted Application Form and supporting documents for their own records.
• Applicants must not knowingly or recklessly provide false or misleading information in connection with the application.

Applies to

natural persons applying to carry on a single class of trust company business, individuals registered or seeking registration under Article 8 of the Financial Services (Jersey) Law 1998

Deadlines

• forthwith: Applicant must notify the JFSC in writing forthwith of any material alteration to, or event affecting, information supplied in connection with the application while it is awaiting determination.