Launch of myRegistry Reinforces Jersey’s Role in Global Transparency Agenda
The launch of the Jersey Financial Services Commission’s (JFSC’s) new fully digital online registry has been welcomed by Jersey Finance as an illustration of the jurisdiction’s progressive approach to governance and fighting financial crime.
myRegistry, which has been rolled out in phases across sectors during early 2021, is a new online platform for reporting, hosting and searching for documentation relating to Jersey companies, foundations, partnerships and securities.
The introduction of myRegistry also coincides with the approval of new legislation by Jersey’s government in January this year, aimed at helping Jersey to meet international standards. The Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020 increases the amount of information that will be made public for Jersey companies and other entities, while also providing a revised statutory framework as to how beneficial ownership information, which will not be made publicly available, is provided.
Commenting on the new digital Registry, Joe Moynihan, CEO, Jersey Finance, said:
“The launch of myRegistry in early 2021 is significant for a number of reasons. Not only does it demonstrate Jersey’s commitment to supporting the international drive to enhance cross-border reporting, disclosure and governance through our world-leading registry, it also reflects our vision of Jersey as a digital-first jurisdiction. Having up-to-date technology is vital to ensure we deliver efficient services to our clients, ensuring firms remain competitive, globally.
“Jersey is a forward-thinking jurisdiction and is already ahead of the game, having had a central register of beneficial ownership for more than 30 years and having made a commitment to following the implementation of the EU’s 5th Anti Money Laundering Directive, but this latest development really emphasises Jersey’s progressive approach in supporting the global transparency agenda.”