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Class
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Description of financial service business
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Article of the Financial Services (Jersey) Law
1998
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PART 1 – INVESTMENT BUSINESS
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A
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Dealing in investments.
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2(2)(a)
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B
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Managing investments.
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2(2)(b)
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C
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Giving investment advice when not prevented from holding client
assets by virtue of a condition of registration.
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2(2)(c)
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D
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Giving investment advice when prevented from holding client assets
by virtue of a condition of registration.
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2(2)(c)
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E
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Investment business carried on only with respect to funds that
would be funds within the meaning of the Collective
Investment Funds (Jersey) Law 1988[7] but for the fact that they
do not, and do not intend to, acquire capital by means of an offer to the
public of units for subscription, sale or exchange, as described in that Law.
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PART 2 – TRUST COMPANY BUSINESS
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F
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Acting as a company, partnership or foundation formation agent.
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2(3) and 2(4)(a)
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G
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Acting or fulfilling the function of or arranging for another
person to act as or fulfil the function of director or alternate director of
a company.
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2(3) and 2(4)(b)
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H
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Acting or fulfilling the function of or arranging for another
person to act as or fulfil the function of a partner of a partnership.
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2(3) and 2(4)(c)
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I
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Acting or arranging for another person to act as secretary,
alternate, assistant or deputy secretary of a company.
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2(3) and 2(4)(e)
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J
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Providing a registered office or business address for a company,
partnership or a foundation.
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2(3) and 2(4)(f)
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K
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Providing an accommodation, correspondence or administrative
address for a company, a partnership or a foundation or for any other person.
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2(3) and 2(4)(g)
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L
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Acting as or fulfilling or arranging for another person to act as
or fulfil the function of trustee of an express trust.
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2(3) and 2(4)(h)
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M
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Acting as or fulfilling or arranging for another person to act as
shareholder or unitholder as a nominee for another person.
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2(3) and 2(4)(i)
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N
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Acting as a manager of a managed trust company (as distinct from
administering a private trust company being a company that is exempted by
Order made under the Law from registration when providing a service specified
in Article 2(4) of the Law).
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2(3) and (4)
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O
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Providing a service specified in Article 2(4)(a), (e), (f) or (i)
of the Law (“the specified service”) to a person (whether or not
a natural person) where –
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2(3) and 2(4)
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(a)
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that person is resident for tax purposes in Jersey; and
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(b)
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the provision of the specified service to that person by the
provider does not require the provider to handle or control trust company
business assets of the person other than those the provider handles or
controls as a necessary result of providing the specified service.
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OA
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Acting as or fulfilling the function of or arranging for another
person to act as or fulfil the function of a member of the council of a
foundation.
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2(3) and 2(4)(d)
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PART 3 – GENERAL INSURANCE MEDIATION BUSINESS
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P
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Carrying on general insurance mediation business (other than
incidental general insurance mediation business), not carrying on any other
class of financial service business and not being a business that is within
Class Q.
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2(7)
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Q
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Carrying on general insurance mediation business (including
incidental general insurance mediation business) –
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2(7)
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(a)
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in addition to carrying on –
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(i)
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any class of financial service business other than general
insurance mediation business, or
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(ii)
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any other business authorized under the Banking Business (Jersey)
Law 1991[8], the Collective Investment
Funds (Jersey) Law 1988 or the Insurance Business (Jersey) Law 1996[9]; or
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(b)
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as a company that is part of a group, where another part of the
group carries on –
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(i)
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any class of financial service business other than general insurance
mediation business, or
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(ii)
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any other business authorized under the Banking Business (Jersey)
Law 1991, the Collective Investment Funds (Jersey) Law 1988 or the Insurance
Business (Jersey) Law 1996.
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R
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Carrying on incidental general insurance mediation business,
if –
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2(7)
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(a)
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the business includes the giving of advice on the terms,
conditions or suitability of the policy being proposed; and
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(b)
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the business to which the general insurance mediation business is
incidental –
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(i)
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is not within a class of financial service business, and
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(ii)
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is not business authorized under the Banking Business (Jersey) Law
1991, the Collective Investment Funds (Jersey) Law 1988 or the Insurance
Business (Jersey) Law 1996.
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S
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Carrying on incidental general insurance mediation business,
if –
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2(7)
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(a)
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the business does not include the giving of advice on the terms, conditions
or suitability of the policy being proposed; and
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(b)
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the business to which the general insurance mediation business is
incidental –
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(i)
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is not within a class of financial service business, and
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(ii)
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is not business authorized under the Banking Business (Jersey) Law
1991, the Collective Investment Funds (Jersey) Law 1988 or the Insurance
Business (Jersey) Law 1996.
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PART 4 – MONEY SERVICE BUSINESS
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T
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Carrying on money service business.
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2(9)
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PART 5 – FUND SERVICES BUSINESS
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U
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Manager.
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2(10)(a)
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V
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Administrator.
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2(10)(a)
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W
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Registrar.
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2(10)(a)
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X
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Investment manager.
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2(10)(a)
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Y
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Investment adviser.
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2(10)(a)
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Z
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Distributor.
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2(10)(b)
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ZA
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Subscription agent.
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2(10)(b)
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ZB
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Redemption agent.
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2(10)(b)
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ZC
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Premium receiving agent.
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2(10)(b)
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ZD
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Policy proceeds paying agent.
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2(10)(b)
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ZE
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Purchase agent.
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2(10)(b)
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ZF
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Repurchase agent.
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2(10)(b)
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ZG
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Trustee.
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2(10)(c)
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ZH
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Custodian.
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2(10)(c)
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ZI
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Depository.
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2(10)(c)
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ZJ
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Member of a partnership (except a limited partner).
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2(10)(d)
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ZK
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Manager of a managed entity.
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2(10)(a)
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