Guide to Anti-Money Laundering Services Provider Application Process

Summary

This JFSC guidance explains the Anti-Money Laundering Services Provider (AMLSP) regime, introduced by amendments to the Money Laundering (Jersey) Order 2008. It sets out how a Financial Services Business (FSB) or Trust Company Business (TCB) can become an AMLSP, how customers appoint an AMLSP to help fulfil their AML/CFT/CPF obligations, and how to apply for or revoke Schedule 2 business registration through an AMLSP.

• Two part application: An eligible FSB or TCB wishing to act as an AMLSP must first submit an AMLSP Key Person application form and obtain the JFSC's no objection to proposed AMLSP MLCOs and MLROs (Step 1), then submit an AMLSP Legal Person or Legal Arrangement application form for each customer wishing to register or expand Schedule 2 activities via the AMLSP (Step 2).
• Eligibility: Only FSB/TCB entities holding specified Trust Company Business classes (G, H, L, OA, OB) or Fund Service Business classes (U, V, ZG, ZH, ZI, ZJ) may act as an AMLSP, subject to criteria in the Article 9A(4) Notice.
• Non delegable responsibility: A relevant person may outsource AML/CFT/CPF activities to an AMLSP but cannot delegate its underlying responsibility as a Schedule 2 business; its board must decide whether to appoint an AMLSP or otherwise meet its obligations.
• Legal arrangements: Structures without independent legal personality (limited partnerships, protected cells, LLCs, LLPs, foundations) must apply through their governing body using the Legal Arrangement application form; trusts themselves are not registered, only their trustees.
• Fees: No fee currently applies to the AMLSP Key Person application; fees apply to Schedule 2 registration, with a discount where registering via an AMLSP.
• Revocation and change of AMLSP: Schedule 2 registered persons wishing to revoke registration must use the AMLSP Schedule 2 Revocation form on the portal; changes of AMLSP must currently be requested by email to the Authorisations Team pending a dedicated portal form.

The guidance also confirms that AMLSP application workbooks were discontinued on 7 October 2024 in favour of forms within the myJFSC Portal, and describes portal functionality (chat, copy, download, delete) for managing submissions.

Key obligations

• An AMLSP must submit an AMLSP Key Person application form and obtain the JFSC's written no objection before any individual may act as an AMLSP MLCO or AMLSP MLRO
• No individual may act as AMLSP MLCO or MLRO unless their name has been notified to the JFSC and the JFSC has confirmed no objection
• The AMLSP must submit an AMLSP Legal Person or Legal Arrangement application form on behalf of each customer conducting or wishing to conduct Schedule 2 business
• The board or equivalent of the AMLSP has ultimate responsibility for oversight of the content of any submission made on its behalf
• A relevant person's board (or equivalent) must decide whether to appoint an AMLSP or otherwise ensure its AML/CFT/CPF obligations are met, as this responsibility cannot be delegated
• The AMLSP must implement reporting processes to provide additional information periodically requested by the JFSC
• Employees should be screened prior to onboarding and where there is a subsequent significant change in an employee's role, per Article 11(1)(d) of the Money Laundering Order and Handbook section 9.2
• Named persons in application forms must be provided with the declaration requirements and must acknowledge the JFSC's authority to verify information and request police record details
• A Schedule 2 registered person seeking to revoke registration must submit the AMLSP Schedule 2 Revocation form specifying the rationale and date activity ceased
• Where an AMLSP is changed, the outgoing and incoming AMLSPs must email the Authorisations Team with details of affected entities, Principal Persons, and the effective date of change

Applies to

Financial Services Business (FSB), Trust Company Business (TCB), Anti Money Laundering Services Provider (AMLSP), Schedule 2 businesses, Legal Arrangements (e.g. General Partners, Protected Cell Companies, LLC Managers/Members, Foundation Council Members), Trustees

Deadlines

• 7 October 2024: AMLSP application workbooks were discontinued as of this date, replaced by forms on the myJFSC Portal