Jersey – States Beneficial Owner Register

Jersey – States Beneficial Owner Register

On 12 November 2019, JER States issued notice on beneficial ownership register.

  • Follows FATF October 2019 guide on beneficial ownership for legal persons.

Highlights

  • FATF guide had referred to Jersey, as example of best practice in beneficial ownership.
  • Guide identifies common issues that countries face in identifying the beneficial owners.
  • Suggested the key features of an effective beneficial ownership transparency regime.
  • Senator Ian Gorst, the minister for external relations, said the report demonstrated Jersey's success in developing transparency in beneficial ownership as part of AML.
  • Gorst said Jersey would develop legal power to ensure ownership register up to date.
  • Jersey is also working to connect its register to the register of the UK and EU states.
  • Develop accessibility and transparency, per principles of the EU's fifth AML directive.