JFSC SCH2 Registration Extension for Directors and Family Offices ONLY
20/04/2023
Industry update | 19 April 2023 RE Exemptions – Registration Extension for Directors and Family Offices
Good news, Following the JFSCs update on Schedule 2 business registrations, and its publication of revised Director FAQs [Friday 14 April] an extension to the registration period is being granted to the FOLLOWING two groups ONLY
- Directors; and
- Family Offices
- Family offices that do not use a PTC administered by a person registered to carry out trust company business in Jersey (Family Offices).
These businesses, being extended from 30 JUNE to midnight on 31 August 2023.
The extension is being granted because both are new sectors, predominantly individuals, who are currently outside of the scope of regulation.
This additional registration period will allow for further engagement to ensure those in scope Directors and PTCs better understand their new obligations and how they might meet those obligations.
To support this, the JFSC will be:
- Hosting a series of events aimed at discrete groups of directors’ in the week commencing 24 April
- Publishing further guidance on PTCs on 12 May
- Hosting a series of drop-in sessions throughout May 2023 to provide support to Directors and PTCs who may wish to seek support with completing the registration process.
Source
- https://www.jerseyfsc.org/news-and-events/exemptions-registration-extension-for-directors-and-family-offices/
- https://www.jerseyfsc.org/news-and-events/exemptions-registration-extension-for-directors-and-family-offices/
Director FAQs [Friday 14 April] https://www.jerseyfsc.org/industry/financial-crime/schedule-2-business-directors-faqs/
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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.