JFSC launches new approach to collecting company information

Companies of all sizes are facing a change to how they submit their business information to the Jersey Financial Services Commission (“JFSC”).

From 6 January 2021, the JFSC will no longer accept paper copy documentation and all transactions must, from this date, be submitted online via their dedicated portal.

This change in the collection of information coincides with a new law that the Government of Jersey is introducing. The law requires the JFSC to collect more information for their central registers. This information includes the submission of information on all directors, secretaries and shareholders.

Similar to when companies were required to submit beneficial owner’s information to the JFSC, they must now submit a Register of Directors online, which includes the names of directors and secretaries.

Companies can choose to file their Register of Directors at the same time as their Annual Return, which is due by 30 April 2021.

From 2021, the Annual Return is being replaced by the Annual Confirmation Statement, which must also be filed online via the JFSC portal.

To gain access to the portal, companies must first register for online access. Registration to the JFSC online portal opens on 6 January 2021.

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