Exemptions – Registration Extension for Directors and Family Offices
Subject: Exemptions
This follows our publication of revised Director FAQs on Friday 14 April.
The requirement to register as a Schedule 2 business, is, for the following businesses, being extended to midnight on 31 August 2023:
- Directors; and
- Family Offices that do not use a PTC administered by a person registered to carry out trust company business in Jersey (Family Offices).
An extension to the registration period is being granted specifically for these two groups only as both are new sectors, predominantly individuals, who are currently outside of the scope of regulation. This additional registration period will allow for further engagement to ensure those in scope Directors and Family Offices better understand their new obligations and how they might meet those obligations.
To support this, the JFSC will be:
- Hosting a series of events aimed at discrete groups of directors week commencing 24 April
- Publishing further guidance on PTC’s/Family Officers on 12 May
- Hosting a series of drop-in sessions throughout May 2023 to provide support to Directors and Family Offices who may wish to seek support with completing the registration process.