Application for General Insurance Mediation Business

Summary

This is the JFSC application form used by firms seeking registration to carry on general insurance mediation business in Jersey under the Financial Services (Jersey) Law 1998. It applies to any firm conducting this activity as a primary or secondary business, and requires the applicant to select the correct Class of general insurance mediation business (P, Q, R or S) and complete only the corresponding sections.

• Classes of registration: Applicants must identify whether they fall under Class P, Q, R or S based on whether general insurance mediation is their sole or incidental activity and whether they give advice on policy terms.
• Core information: General Information, Legal Status, Regulated Business Activities, Other Information, and (where relevant) exemption applications from the Accounts Order and/or Client Assets Order, Risk Transfer Arrangements and Insurance Counterparties.
• Part 2 (Class P and Q only): Beneficial ownership details, Personal Questionnaires for Principal Persons and the Compliance Officer, business record disclosures, financial and insurance information, and a business plan.
• Supporting documents: Class P and Q applicants must submit audited financial statements and the corresponding home regulatory return; Professional Indemnity Insurance cover where applicable; and, for group structures, a structure chart showing ownership and any Jersey financial services activity.
• Fees: An application fee is payable as set out in the General Insurance Mediation Fees notice; a reduced annual renewal fee may be available if criteria in that notice are met.
• Declaration: The application must be signed by an authorised signatory (or two signatories) confirming the information is accurate and complete, and acknowledging the criminal offence provisions under Article 28 of the FS(J)L for false or misleading information.

The form also imposes an ongoing duty on applicants: while an application is pending, any material change to the information or documents supplied must be reported to the JFSC immediately, and the completed form and enclosures must be sent to the Commission's Central Authorisations team.

Key obligations

• Applicants must complete only the sections of the form relevant to their Class of general insurance mediation business (P, Q, R or S) and answer every applicable question.
• Applicants must sign and complete the Declaration under Part 3 confirming the information provided is accurate and complete.
• Class P and Q applicants must provide a copy of their latest audited financial statements and corresponding home regulatory return with the application.
• Applicants must submit Personal Questionnaires for all Principal Persons and the Compliance Officer identified in the application.
• Applicants applying for Class P and Q must disclose beneficial ownership, including structure charts showing ultimate beneficial owners and percentage voting share ownership.
• Applicants must disclose any significant adverse events (insolvency, investigations, convictions, settlements, etc.) from the previous ten (or three) years, with supplementary information if any answer is Yes.
• While the application is awaiting determination, the applicant must forthwith give written notice to the JFSC of any alteration or event that may materially affect information already supplied, per Article 8(6) of the FS(J)L.
• Payment of the applicable fee must be made as soon as possible once the invoice is issued by the JFSC.
• Completed applications and supporting documents must be sent to the Commission's Central Authorisations inbox.

Applies to

firms seeking registration to carry on general insurance mediation business, Class P applicants, Class Q applicants, Class R applicants, Class S applicants, insurance intermediaries/brokers

Deadlines

• forthwith: An applicant must give written notice to the JFSC immediately upon any material change to, or event affecting, information supplied in the application while it is awaiting determination.
• as soon as possible once the invoice is sent: Payment of the application fee must be made promptly after the JFSC issues the invoice.