Civil financial penalties regime and natural persons

About the consultation

We want your views on proposed changes to the maximum penalties that may be imposed on a natural person performing a regulated role under the Financial Services Commission (Financial Penalties) (Jersey) Order 2015​, such as when acting either as a key person, principal person or within a senior management function.

We would like feedback on 2 alternative proposals, either to:  

• reduce the caps for band 1, 2, 2A and 3 contraventions
• adopt a threshold linked to a percentage of the individual’s income, overlaid with maximum penalty caps as above

These proposals aim to:

• make the system fairer
• ensure Jersey complies with the Financial Action Task Force (FATF) recommendations, which require effective, dissuasive and proportionate sanctions

Consultation document on civil financial penalties regime and natural persons​

Background

Jersey is committed to implementing international standards to detect and combat financial crime. This is shown through its most recent independent assessment against the FATF standards, published in 2024.​

After reviewing the framework for registered persons, we believe now is the right time to review the financial penalties regime for natural persons, to ensure it is fair and meets international standards.

How to submit comments to the consultation

​You can email your comments to growthfs@gov.je​ or by post to: 

FAO Miguel Zaragoza, Department for the Economy
Government of Jersey
Union Street
St Helier
JE2 3DN

Data protection

The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018. Find more information in the Department for the Economy privacy Nnotice.

The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent. 

Types of publishing may include, for example, sending to other interested parties on request, sending to the Scrutiny Office, quoting in a published report, reporting in the media, publishing on the Government website, and listing on a consultation summary.

Confidential responses will still be included in any summary of statistical information received and views expressed.

Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.