Consultation on Schedule 2: proposed amendments to the Article 36 guidelines

1    Executive summary

1.1    Overview

1.1.1    We are consulting on proposed amendments to the guidelines on interpretation (the Guidelines) issued under Article 36(2) of the Proceeds of Crime (Jersey) Law 1999 (POCL). These changes are designed to strengthen Jersey’s anti-money laundering, countering the financing of terrorism, and countering proliferation financing (AML/CFT/CPF) regime, while supporting industry with clearer and more practical guidance.

1.1.2    Industry feedback indicates that certain aspects of the current Guidelines – in particular, the ‘as a business’ test – are challenging to apply and have generated significant queries in relation to the scope and application of Schedule 2 of POCL (Schedule 2). These proposals respond to that feedback by offering clearer criteria and examples, aiming to reduce uncertainty and support a consistent approach across sectors.

1.2    What is proposed and why?

1.2.1    The revised Guidelines aim to improve clarity and usability by:

• introducing structured ‘Schedule 2 gateways’ – a three-part test (focussing on activity, ‘as a business’, and Jersey nexus) to determine whether registration is required
• providing targeted guidance on complex areas to reduce ambiguity and promote consistency
• revising interpretative guidance for specific Schedule 2 activities (notably fund and security services activities, including to future-proof the Guidelines in light of planned changes to the Control of Borrowing regime)
• including existing guidance on the meaning of ‘in or from within Jersey’ as an annex in response to industry feedback

1.2.2    In addition, we are seeking views on the benefits of publishing basic information (such as name and activity) for all persons registered to carry on Schedule 2 business (as defined under the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 (SBL)) on our website to promote transparency.

1.2.3    The revised Guidelines are included at Appendix A of this consultation paper.

1.3    Who could be affected?

1.3.1    The proposals primarily affect:

• persons currently registered with us for conducting Schedule 2 business
• persons assessing whether they are required to register with us
• industry bodies and professional advisers who support compliance with Jersey’s AML/CFT/CPF obligations

1.4    Invitation to comment

1.4.1    We welcome views from all stakeholders on the proposed changes, including:

• the clarity and practicality of the revised Guidelines
• any areas where further interpretative support would be helpful
• the benefits of publishing basic information for persons registered to conduct Schedule 2 business

1.4.2    Submit your response by 17:00 on 30 January 2026.

Read the full consultation on Schedule 2: proposed amendments to the Article 36 guidelines.