International standards on collecting information on the beneficial owners are constantly changing. Jersey has a long track record of high standards effective in helping to tackle financial crime and countering the financing of terrorism. It is also a world-leader in standards of transparency having, among other things, maintained a central company register populated by accurate, verified and up-to-date data for 30 years.

With this in mind, in June 2019, the Government of Jersey made a political commitment to align itself with the principles as set out by the EU’s 5th Anti Money Laundering Directive. The commitment sets out three stages within a deliverable timeframe:

  • the interconnection of the Island’s registers of beneficial ownership of companies with those within the EU for access by law enforcement authorities and Financial Intelligence Units; then
  • access for financial service businesses and certain other prescribed businesses for corporate due diligence purposes; then
  • public access aligned to the approach taken in the EU Directive.

More information can be found on Jersey’s long history at the forefront of regulation on our Transparency Timeline.

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