Notification of change of principal person, money laundering reporting officer or money laundering compliance officer for Schedule 2 business

Summary

This is a JFSC notification form used by persons registered to carry on Schedule 2 business under the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 to report changes to their Principal Person, Money Laundering Compliance Officer (MLCO) or Money Laundering Reporting Officer (MLRO). It covers both new appointments and individuals ceasing to act in these roles.

• Who must file: Any Registered Person under Schedule 2 (a wide range of financial services businesses and DNFBPs) appointing or losing a Principal Person, MLCO or MLRO.
• Timing: Notification must reach the JFSC within one month of the appointment taking effect or the individual ceasing to act, per Article 34(2) of the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 and Articles 7(6)/8(4) of the Money Laundering (Jersey) Order 2008.
• Supporting documents for new appointments: A certified copy of the current passport must be provided for all new Principal Persons/Key Persons, including directors, shareholders (10%+), MLRO and MLCO.
• Declaration: Section C requires an authorised signatory to declare the appointee has not been convicted of an offence specified in Article 14(4)(a) and (b) of the 2008 Law.
• Submission method: Completed forms and certified passport copies must be emailed to RegulatoryMaintenance@jerseyfsc.org; paper copies are not accepted.
• Not for this form: Notifications of ceasing to act as a Key/Principal Person where a Letter of No Objection was issued must instead be made via the myJFSC Portal.

Failure to comply with the Money Laundering (Jersey) Order 2008 notification requirement is an offence under Article 37(4) of the Proceeds of Crime (Jersey) Law 1999, punishable by a fine.

Key obligations

• Registered Persons must notify the JFSC of a change to their Principal Person, MLCO or MLRO within one month of the appointment taking effect or the individual ceasing to act.
• For new Principal Persons/Key Persons (including directors, shareholders holding 10% or more, MLRO and MLCO), the Registered Person must provide the JFSC with a certified copy of the individual's current passport.
• An authorised signatory of the Schedule 2 business must complete a declaration confirming the appointee has no relevant convictions under Article 14(4)(a) and (b) of the 2008 Law.
• Completed forms and supporting documents must be submitted by email to RegulatoryMaintenance@jerseyfsc.org; paper submissions are not accepted.

Applies to

Registered Persons carrying on Schedule 2 business, money service businesses, deposit takers and lenders, fund and securities services providers, trust and company service providers, real estate agents, high value dealers, lawyers, accountants, casinos, virtual asset service providers (VASPs)

Deadlines

• within one month after the date the appointment takes effect: Notification of a new Principal Person, MLCO or MLRO must be provided to the JFSC within this period.
• within one month after the date the individual ceases to act: Notification of an individual ceasing to act as Principal Person, MLCO or MLRO must be provided to the JFSC within this period.