Working in partnership with the Government of Jersey, we will be introducing new regimes in 2022 and expanding the remit of some existing regimes including:
| Regime | Why | When in force |
| New regimes | ||
| Virtual Asset Service Providers | Developing a supervisory regime for the growing VASPs sector that is FATF compliant and provides a robust framework for innovation | From H2 2022 |
| Money or Value Transfer Services (MVTS) | Enhancing the rules around MVTS by enhancing the Money Services Business definition in the Financial Services Law. | From H2 2022 |
| Non Profit Organisations (NPOs) | Bringing higher-risk NPOs within the regulatory perimeter to ensure that Jersey is supervising the sector in a risk-based way. | From H2 2022 |
| Register of Limited Liability Companies (LLCs) | Expanding the new registry system to facilitate an additional register for LLCs and administration of the new LLC legislation which is expected to come into force in April 2022. | From H1 2022 |
| Expanded regimes | ||
| Registration exemptions |
Bringing Jersey’s AML/CFT regime in line with international standards so that exemptions from AML/CFT supervision relate only to low-risk activities. |
From H2 2022 |
What we will deliver:
This work is essential in delivering to international standards including being FATF compliant, avoiding a grey listing, and supporting the development of new financial services products.
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