Jersey's new beneficial ownership scheme expected by end-2020

A draft Bill establishing a new central register of beneficial owners, controllers and significant persons has been tabled by the government of Jersey, and is likely to come into force by the end of 2020. The draft legislation, Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020, is in response to the findings in the 2016 MONEYVAL report, regarding Jersey's compliance with Financial Action Task Force (FATF) recommendations. The proposed legislation will most likely be in force by the end of 2020 and will adopt the recommendations and enhance the existing ben...