Guide to Section I of risk based supervision data: Sole Traders 2023

A1

Yes.

Please enter the name under which your business is registered.

This is the name which appears on the JFSC certificate issued at the time of registration and may be either your own name or the name of a company via which you provide services.

A2

Not applicable.

This question is only applicable for sole traders registered to carry on trust company business.

A3

Yes.

Please respond using the drop down menu (yes/no) in the box relating to the type of business being carried on. 

There is no need to respond ‘No’ to the other boxes.

The column entitled ‘Participating members’ should be left blank.

The guidelines to the AML/CFT Handbook clarifies that “accountancy services” includes any service provided under a contract for services (i.e. not a contract of employment) which pertains to the recording, review, analysis, calculation or reporting of financial information. This includes those reporting entities that only undertake bookkeeping.

A4

Not applicable.

This question does not apply and should be left blank.

A5

Not applicable.

This question does not apply and should be left blank.

A6

Not applicable.

This question does not apply and should be left blank.

A7

Not applicable.

This question does not apply and should be left blank.

A8

Not applicable.

This question does not apply and should be left blank.

A9

Not applicable.

This question does not apply and should be left blank.

A10

Maybe.

This question applies only to sole traders carrying on accountancy services.

i.e. who have answered ‘Yes’ to ‘Accountants’ in A3.

A11(a)

Not applicable.

This question does not apply and should be left blank.

A11(b)

Not applicable.

This question does not apply and should be left blank.

A12(a)

Not applicable.

This question does not apply and should be left blank.

A12(b)

Not applicable.

This question does not apply and should be left blank.

A13

Not applicable.

This question does not apply and should be left blank.

A14

Not applicable.

This question does not apply and should be left blank.

A15

Not applicable.

This question does not apply and should be left blank.

A16

Not applicable.

This question does not apply and should be left blank.

A17(a)

Yes.

Must be answered by all sole traders.

Total income should be reported before any deductions i.e. total fees.

Note: the answer must be given as an absolute value e.g. GBP 10,000.

A17(b)

Yes.

Must be answered by all sole traders.

It is likely that the answer to this question will be the same as for A17(a).

Note: the answer given must not be greater than the answer to A17(a) and should be given as an absolute value e.g. GBP 8,000

A18

Yes.

Must be answered by all sole traders.

The question should be answered as ‘1’.

For the purpose of this questionnaire, the sole trader is the only ‘employee’.

A19

Yes.

Must be answered by all sole traders.

The question should be answered as ‘1’.

Note: The sole trader is the Money Laundering Compliance Officer and is therefore the person responsible for compliance – Article 7(2) of the Money Laundering (Jersey) Order 2008.

A20

Yes.

This question should be answered with a ‘0’.

A21

Yes.

Must be answered by all sole traders.

Note: the JFSC does not expect the answer to this question to be ‘0’. However, if the sole trader considers ‘0’ to be the most appropriate answer please explain this response on Sheet E – Comments.

A22

Yes.

Must be answered by all sole traders.

Note: the JFSC does not expect the answer to this question to be ‘0’. However, if the sole trader has answered A21 with ‘0’ then this will also be the answer to A22.

A23(a)

Maybe.

Unlikely to be applicable.

However, if a sole trader does provide services to a PEP, this question must be answered.

A23(b)

Maybe.

Unlikely to be applicable.

However, if a sole trader does provide services to a PEP, this question must be answered.

Note: In relation to each unique PEP either answer A23(a) or A23(b). A unique PEP should not be reported in both question A23(a) and A23(b).

B1(a) & B1(b)

Yes.

Must be answered by all sole traders.

If no Suspicious Activity Reports (SARs) have been considered, please answer ‘0’.

B2(a) & B2(b)

Yes.

Must be answered by all sole traders.

If no SARs have been submitted to the JFCU or an overseas FIU, please answer ‘0’.

B3

Yes.

Must be answered by all sole traders.

If no SARs have been submitted to overseas FIU, please answer ‘0’.

B4

Yes.

Must be answered by all sole traders.

If no SARs have been considered, please answer ‘0’.

B5

Yes.

Must be answered by all sole traders.

If no SARs have been considered, please answer ‘0’.

B6

Yes.

Must be answered by all sole traders.

Links to B2, if no SARs have been submitted, please answer ‘0’.

B7

Yes.

Must be answered by all sole traders.

If no request for information has been received from either the JFCU and/or an overseas FIU, please answer ‘0’.

B8

Yes.

Must be answered by all sole traders.

If no production orders have been received, please answer ‘0’.

B9

Yes.

As a sole trader does not have any employees please answer ‘0’.

B10

Yes.

As a sole trader does not have any employees please respond by marking all boxes ‘not performed’.

B11

Yes.

Must be answered by all sole traders.

Please respond by marking all boxes that apply with an ‘X’.

Note: the final box should be marked if no screening system has been used.

B12(a)

Maybe.

If the answer to B11 is ‘None’ then B12(a) does not apply and can be left blank.

For all other responses to B11 B12(a) must be answered by marking an ‘X’ against all that apply.

B12(b)

Maybe.

Links to B12(a), a response must be provided wherever B12(a) has a positive response.

B13

Yes.

Must be answered using the dropdown menu (daily, weekly, monthly, quarterly, other, never).

C1

Yes.

Must be answered by all sole traders.

If no positive matches have been detected, please answer ‘0’.

C2

Yes.

Must be answered by all sole traders.

If C1 has been answered as zero, then the answer to this question will be ‘0’ as well.

If positive matches are reported at C1, please report the number of positive matches that have been reported to the Minister for External Relations.

C3

Maybe.

Only applicable if C2 has been answered with a number other than ‘0’.

C4

Yes.

Must be answered by all sole traders.

If no funds or assets have been frozen, please answer ‘0’.

C5

Maybe.

Only applicable if C4 has been answered with a number other than ‘0’.

C6(a) &C6(b)

Yes.

Must be answered by all sole traders.

C7(a) &C7(b)

Yes.

Must be answered by all sole traders.

C8(a) & C8(b)

Yes.

Must be answered by all sole traders.

Please respond by marking all boxes that apply with an ‘X’.

If another list is used, please provide details in response to C8(b).

C9(a) & C9(b)

Yes.

Must be answered by all sole traders.

C10

Yes.

Must be answered by all sole traders.

C11(a), (b) & (c)

Yes.

Must be answered by all sole traders.

C12

Yes.

Must be answered by all sole traders.

Please respond by marking all boxes that apply with an ‘X’.

C14

Yes.

Must be answered by all sole traders.

If no watchlist is maintained, please answer ‘no’.

Complete sheet

Maybe.

Only applicable if a sole trader has a customer, or beneficial owner or controller of a customer, that is a PEP. Then either A23(a) or A23(b) will be relevant.

If either A23(a) or A23(b) is relevant the number of unique PEPs should be recorded against the country which provides them with their PEP status.

Complete sheet

Maybe.

Only applicable if a sole trader wishes to provide additional information to the JFSC in relation to questions A21, A22, A23(a), A23(b), B1(b) or B2(b).