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Jersey recognised for best practice by global standard setter FATF

Date
15 November 2019

Jersey has been recognised for best practice by global standard setter The Financial Action Task Force (FATF).

FATF has published a new guide on Best Practices on Beneficial Ownership for Legal Persons, which refers to what Jersey does as examples of best practice. The report identifies common challenges that countries face in ensuring that beneficial owners of companies are identified, and suggests key features of an effective beneficial ownership transparency regime.

Four examples from Jersey’s beneficial ownership regime were used as best practice examples in the publication and the resulting positive outcomes in regard to accuracy were also noted.

It’s another win for the Island’s international reputation as a top location to do business. With the Island’s continuing work toward stronger regulation, accurate information and more connection between the UK and EU registers, Jersey will continue to be a showcase of global best practice proving the Island’s dedication to transparency and responsibility.

Moving your business to Jersey ensures you’re based in a strong, stable and internationally compliant jurisdiction. If you would like to move your business to Jersey, get in touch with us today. call +44(0)1534 440604 or email us at locatejersey@gov.je

Head over to our page Meeting International Standards if you want to learn more about Jersey’s compliance with global standards and our input into the development of global best practice.

 

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