JFSC consultation on disclosable beneficial ownership information [May 2025]
02/05/2025
The JFSC have published a consultation paper on disclosable beneficial ownership information.
The proposals in this consultation paper aim to:-
- Strengthen Jersey’s existing framework for collecting beneficial ownership data, aligning with international standards and evolving best practices.
- Introduce enhancements that provide greater transparency while balancing privacy concerns and supporting Jersey’s reputation as a trusted international finance centre.
The JFSC consultation paper outlines:
- Why the JFSC are consulting
- Introduction of requirements to collect additional beneficial ownership information
- Proposed thresholds for beneficial ownership
- nature and extent of ownership and control to be disclosed
- When legal entities must provide this information
- The JFSC proposed a timeframe for implementation
- data protection and safeguarding of submitted information
Read the JFSC full consultation paper here.
Next steps
- Submit your feedback by 11:59 pm on Thursday, 30 May 2025 through:
- Your trade body or association
- Jersey Finance Limited (JFL)
- The JFSC online form
Responses
- All responses received via the JFSC form, JFL, or industry associations will be considered. A feedback paper will be published by the end of June 2025.
- The JFSC have offered relevant industry bodies and associations the opportunity for the JFSC team to attend one of their meetings during the consultation period to discuss the proposals and respond to questions.
Contact The JFSC
- The JFSC Policy team is available to assist or clarify any part of the consultation paper.
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.