Feedback and next steps following AML/CFT Handbook consultation
In November 2021 we issued a consultation on proposed changes to our AML/CFT Handbooks.
Our proposals included:
- Merging our existing handbook for regulated financial services business, handbook for the accountancy sector, handbook for the legal sector and handbook for estate agents and high value dealers into one consolidated handbook
- Extending the scope of the AML/CFT Codes of Practice and guidance notes to cover all supervised persons
- Adding new AML/CFT Codes of Practice for electronic identification (E-ID), electronic statements/utility bills and certification of documents.
The deadline for feedback was 7 January 2022 and we are grateful to everyone who took the time to provide us with their comments.
Feedback received
We have now prepared a summary of the feedback received and our responses.
Revised handbook
We have also published a revised version of the consolidated handbook. This includes amendments following comments from Industry and also reflects our own internal review carried out during the consultation period. We are continuing to develop a new landing page for the revised consolidated handbook on our website, to assist in its use and navigation.
Transition period
During our consultation, we received feedback that Industry would like more than two months to prepare for these changes. We have listened to this feedback and have extended the effective date to 31 May 2022.
Tracked change versions
To help Industry prepare for these changes, we have also prepared tracked-change documents comparing each of the current AML/CFT Handbooks against the revised consolidated handbook.
| Lawyers | Accountants | Regulated Financial Services Businesses | Estate Agents and High Value Dealers |
| Section 1 | Section 1 | Section 1 | Section 1 |
| Section 2 | Section 2 | Section 2 | Section 2 |
| Section 3 | Section 3 | Section 3 | Section 3 |
| Section 4 | Section 4 | Section 4 | Section 4 |
| Section 5 | Section 5 | Section 5 | Section 5 |
| Section 6 | Section 6 | Section 6 | Section 6 |
| Section 7 | Section 7 | Section 7 | Section 7 |
| Section 8 | Section 8 | Section 8 | Section 8 |
| Section 9 | Section 9 | Section 9 | Section 9 |
| Section 10 | Section 10 | Section 10 | Section 10 |
| Section 11 | |||
| Section 12 | |||
| Section 13 |
E-ID further guidance
We have also listened to feedback from Industry that you would like some further guidance on the new content regarding E-ID. We are working on this and will share in due course.
Hear from Andrew Henson in our Policy team about what these changes mean.
For any questions on these changes, you can contact our Policy Team via CPHandbook@jerseyfsc.org.