Consultation on enhancements to criminal background checks for principal and key persons
We have published a consultation paper on enhancements to criminal background checks for principal and key persons.
The proposals in this consultation paper seek to strengthen our current regulatory regime to prevent criminals and their associates from owning, controlling or being in a position of key influence in a Jersey supervised person to meet international AML/CFT/CPF requirements. Our proposals aim to achieve this in a proportionate, cost-efficient manner that does not adversely impact the competitiveness and attractiveness of Jersey as a place to do business.
Our consultation paper outlines:
- why we are consulting
- the introduction of the requirement to provide criminal record certificates
- what level of criminal record checks will be required
- how to obtain a criminal record checks
- when a principal or key person would have to submit criminal record checks
- related amendments to supervised persons obligations in our AML/CFT/CPF handbook and the General Insurance Mediation Business Codes of Practice
- requisite changes to myProfile and myJFSC and relevant forms
- our proposed timeframe for the introduction of the proposed regime
- ancillary changes to our annual supervisory risk data collection
Read our full consultation paper: consultation on enhancements to criminal background checks
It is not currently intended that non-profit organisations (NPO) will be subject to the proposals set out in our consultation paper. We have taken this approach in order to align with the Financial Action Task Force Recommendation 8 requirements that state countries should apply proportionate measures to the oversight of NPOs.
Next steps
Submit your feedback by 11:59pm on Wednesday 26 March 2025 through:
- your trade body or association
- Jersey Finance Limited (JFL)
All responses received to this consultation through our form, JFL or industry bodies and associations will be considered.
A feedback paper for this consultation will be published on Wednesday 7 May 2025.
Join our drop-in sessions
To support you during the consultation process, we are hosting drop-in sessions where you can meet with our team and discuss any queries you might have after reading the consultation paper. No booking is required.
See our available drop-in sessions: drop-in sessions for our consultation on enhanced criminal background checks
Meetings with industry bodies and associations
We have also offered each of the relevant industry bodies and associations the opportunity for members of our team to attend one of their meetings during the consultation period to enable discussions and answer any questions on the consultation paper.
Contact us
Our Policy team are also available if you require any assistance or clarification on the proposals set out in our consultation paper.