Money Laundering Compliance Officer role amendments

About the consultation

​​We want your views on proposed changes to the Money Laundering (Jersey) Order 2008​.

You can give feedback on 4 proposals:

1. make sure the Money Laundering Compliance Officer (MLCO) is appointed at management level
2. separate the MLCO’s "responsibility" from the​ "function"​
   
3. use a risk-based approach when appointing an MLCO
4. allow corporate MLCO appointments, with limits

The aim of these changes is to make the MLCO role more flexible, while still meeting Financial Action Task Force (FATF) standards.

The role of the MLCO: consultation paper​

Background

In April 2025, the Government of Jersey launched the Financial Services Competitiveness Programme. This programme is designed to strengthen Jersey’s position as an International Finance Centre and support the Island’s financial and professional services sector.

Workstream 2 (W2) looks at practical ways to improve the Island’s regulatory and business environment. Between February and May 2025, over 200 stakeholders across the sector were consulted by the Government and the Jersey Financial Services Commission (JFSC).

A position paper was later shared with trade bodies, compliance staff and senior business leaders to help prepare for workshops held in November and December 2025.

Jersey is committed to strong rules that prevent: 

• money laundering
• terrorist financing
• proliferation financing

However, feedback showed that the current rules for the MLCO role go further than FATF standards and are stricter than those in competitor jurisdictions.

A key recommendation is to move to a less prescriptive MLCO framework. This would give businesses more flexibility while ensuring Jersey continues to meet its international obligations.

This consultation asks for your views on how best to achieve that balance.​​

Consultation paper: Money Laundering Compliance Officer role amendments​

Public meeting dates

​Government and the Jersey Fin​ancial Services Commission are holding three drop-in sessions in February and March 2026, where industry members can learn more about Jersey’s Competitiveness Programme and this consultation.
The sessions will be held at the Old Magistrate’s Court, Seale Street, on:

• Tuesday 24 February, from 10am to 12pm
  
• Monday 2 March, from 12pm to 1pm
  
• Wednesday 4 March, from 12pm to 2pm​
  

How to submit comments to the consultation

​You can respond:

• by email: growthfs@gov.je (with a subject line FAO Miguel Zaragoza)
• in writing 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 Notice.

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:

• 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
• 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.​