17 April 2023

Online tool to determine if the recent changes to Jersey's AML/CFT regime applies to an entity

To establish if Jersey's new proceeds of crime and anti-money laundering legislation regime applies to any specific entity, please answer the questions at the bottom of this page.

This tool has been developed in connection with the Proceeds of Crime (Jersey) Law 1999 and the guidance issued by the Jersey Financial Services Commission on 15 December 2022 and is subject to any changes, further guidance and any supporting legislation being published. It is intended to be an indicative analysis only based on simplified scenarios and does not take any specific circumstances into account. It should not be relied on as a substitute for legal advice. For advice on any specific circumstances, please contact your usual Carey Olsen expert.

For further information about the recent changes to Jersey's AML/CFT regime please read our user-friendly summary and FAQs.

Answer the questions below to establish if Jersey's new proceeds of crime and anti-money laundering legislation regime applies to any specific entity

1. Are you an individual?

2. Are you a Jersey entity or carrying on business through a physical presence in Jersey?

3. Is the entity acting as trustee of a trust (located in any jurisdiction)?

4. Is the entity a fund (including a fund regulated under the Collective Investment Funds (Jersey) Law 1988, Jersey Expert Fund, Jersey Listed Fund, Jersey Private Fund, Jersey Very Private Fund or AIF) or a provider of financial and/or fiduciary services to a fund of that type?

5. Is the entity issuing securities by way of an offer to non-connected entities or is it a service provider to a securities issuer of that type?

6. Is the entity only interacting with other group or connected (e.g. joint venture) entities?

7. Is the entity conducting any of the following activities:

  • Deposit Taking
  • Currency Changing
  • Money Broking

8. Is the entity conducting any of the following activities:

  • Trust company services 
    • Formation Agent
    • Provider of Director, Secretary, or Partner services
    • Provider of registered office or address
    • Acting as Nominee
  • Portfolio management
  • Virtual Asset Service Providers
    • Exchanges
    • Custody
    • Administration
  • Designated Non-Financial Businesses and Professions
    • High-Value Dealers
    • Casinos
    • Estate agents
    • Lawyers
    • Accountants
  • Lending
  • Financial leasing
  • Money transfer services or provision of means of payment
  • Financial guarantees and commitments 
  • Trading
  • Providing advice on capital structure, industrial strategy, mergers and acquisitions
  • Cash/liquid securities safekeeping and administration 
  • Safe custody services
  • Otherwise investing, administering or managing funds or money
  • Underwriting and placement of life assurance and insurance

9. Is the entity conducting the activities as a business? Indicators include:

  • Entity is holding out or publicly offering to conduct the activity for others
  • Activity is conducted with the intention of earning a profit
  • Receipt of significant financial compensation
  • Entity is conducting more than one type of activity
  • Entity is conducting an activity for more than one person

.

Find a Lawyer