Notice issued under Article 9A(4) of the Money Laundering (Jersey) Order 2008 (2023-04-21)

Summary

This is a public notice issued by the Jersey Financial Services Commission under Article 9A(4) of the Money Laundering (Jersey) Order 2008. It sets out the criteria determining which relevant persons may appoint an Anti-Money Laundering Services Provider (AMLSP) to fulfil their obligations to appoint a compliance officer (MLCO) and reporting officer (MLRO), and the characteristics a person must have to be eligible to act as an AMLSP. It takes effect from 21 April 2023 and replaces the previous notice issued on 30 January 2023.

• Who may appoint an AMLSP: A relevant person that is not a regulated person carrying on a regulated business under the Supervisory Bodies Law (except certain Alternative Investment Fund Services Business providers not registered for Fund Services Business), and that is required to register under the Proceeds of Crime (Supervisory Bodies) Law 2008.
• Who is eligible to act as an AMLSP: A financial service business registered by the Commission for Trust Company Business (Classes G, H, L, OA, OB) or Fund Services Business (Classes U, V, ZG, ZH, ZI, ZJ), that is not a managed entity, managed trust company, or a natural person.
• No objection to MLRO/MLCO appointment: Before giving a no objection under Article 9A(3)(a), the Commission will consider whether the individual was notified via the AMLSP Application Form, existing MLRO/MLCO appointments held, requirements in the AML/CFT Handbook, and the individual's fit and proper status under Article 14(4) of the Supervisory Bodies Law.

The notice does not itself create new filing obligations but clarifies eligibility criteria that relevant persons and prospective AMLSPs must satisfy before an appointment can be made or approved by the Commission.

Key obligations

• A relevant person appointing an AMLSP must ensure the appointment complies with the criteria in this notice, the Order, and the consolidated AML/CFT Handbook
• A person acting as an AMLSP must be a Commission-registered financial service business in the specified Trust Company Business or Fund Services Business classes and must not be a managed entity, managed trust company, or natural person
• An AMLSP must notify the individual's name to the Commission via the AMLSP Application Form before that individual can be appointed as MLRO or MLCO

Applies to

relevant persons, Anti-Money Laundering Services Providers (AMLSPs), Trust Company Business, Fund Services Business, Schedule 2 businesses

Deadlines

• 21 April 2023: Notice takes effect and replaces the previous notice issued on 30 January 2023