Are you lending as a business?

We understand that some individuals who lend as a business (as detailed in our FAQs) may not have been aware that they are required by law to register under Schedule 2 of the Proceeds of Crime (Jersey) Law 1999. This has come to light through recent consultation. 

The JFSC is therefore asking anyone who lends money as a business to regularise their position by registering their lending activity with us. Any lender impacted by this requirement who is concerned can find out more information on our website, or alternatively may wish to speak to us in person. We are happy to assist by explaining the registration process.

The JFSC exercises its powers reasonably and proportionately and looks at breaches of our requirements on a case-by-case basis.

Our primary focus is to ensure those who need to register, do so. To support this, we are hosting an information session on how private lenders may seek to meet their AML/CFT obligations.