Upcoming consultations, legislative updates and revised policies and guidance in 2021
We want to bring to your attention some of the more significant pieces of work that we are focusing on between now and the end of year, which are likely to have implications for you and your business.
Our aim is to enhance and simplify our regulatory toolkit, so that it’s easier for you to understand your responsibilities within Jersey’s regulatory framework.
As well consultations issued by the JFSC, we are working with the Government of Jersey to develop legislation that will ensure Jersey’s regulatory regime continues to meet international standards.
Before the end of the year, we will be asking for your feedback on various consultations and we will be engaging with you through outreach and regular updates.
The following provides an outline of this work. Jon Stevens, Head of Policy also provides a bit more detail on what this work entails and what this may mean for you and your business in these short videos.
Revisions to our policies, guidance and other updates
- Providing enhanced guidance on fiduciary duties for investment businesses
- Updating our outsourcing policy in response to Industry feedback
- Supporting the establishment of the Jersey Resolution Authority
- Introducing consistent criminality checks for Schedule 2 businesses
- Consulting on a consolidated AML/CFT handbook including updated guidance on E-ID
- Consultation on reducing the range of exemptions from AML/CFT oversight
- Consultation on a regulatory regime for virtual assets and their service providers (VASPs) and money or value transfer services (MVTS)
- Consultation on pensions legislation
If you have any concerns or questions about our plans for the rest of the year please contact your Supervisor or the Policy team.