Update on guideline amendments for Trustees and Private Trust Companies
On 22 August 2023, the Government of Jersey issued an update concerning anti-money laundering and the counter financing of terrorism provisions for Trustees and Private Trust Companies. That update correctly identified that we, the JFSC, would be amending our Guidelines on Interpretation issued under Article 36 of the Proceeds of Crime (Jersey) Law 1999.
We are currently working through those amendments and considering what further amendments might be required for incidental trusts and Jersey Property Unit Trusts. We are grateful for the engagement from Industry as we progress through the work underway and will look to issue our updated Guidelines on 8 September 2023.