Jersey Companies Registry

1. Jersey Companies Registry
Registry Case Study
Wednesday 11th March, 2015 Julian Lamb

2. /
• The Jersey Registry;
• What makes Jersey unique? The Jersey Model;
• Beneficial Ownership and a Central Register;
• Sound Business Practice Policy;
• Customer Centric;
• General Developments.
Agenda

3. /

4. The Case for Change
JERSEY
• An administrative registry
(UK, Ireland, New Zealand,
Australia, Canada and Guernsey);
• Part of Jersey’s Financial
Regulator/Supervisor
• Multiple register (a centre of excellence for registry
delivery and shared services)

5. The Case for Change
Jersey Model
• A regulated/supervised company and trust
administration sector;
• A central register of company beneficial
ownership;
• Measures to prevent reputational damage, SBPP;
• Enforcement, links with the enforcement division
at the Commission and other law agencies
through their gateways.

6. The Case for ChangeChange Programme
Summary
Beneficial Ownership
Central Register
• Disclosure upon incorporation;
• Disclosure vetted;
• Held centrally and with regulated service
providers;
• Not public;
• Disclosed to law enforcement agencies upon
request.

7. thbvxdv
Sound Business Practice Policy (SBPP)
• Sensitive activities;
• Holding companies;
• Regulated entities;
• Profile the beneficial owner with the corresponding
activity of the entity;
• Deal with sanctions, PEPs and higher risk
jurisdictions and activities.

8. Balance
– Service level agreement with
industry;
– Operational dashboard ;
– Relationship with regulated
service provider (First and second
line of defence);
• Ease of doing business;
• Customer relationship management:
GETTING THE BALANCE RIGHT

9. The Case for Change
Panel Questions
www.jerseyfsc.org

10. Jersey Companies Registry
Registry Case Study
Wednesday 11th March, 2015 Julian Lamb