Jersey Legislature Amends CRS Regulations to Update Participating Jurisdictions

August 1, 2017 Thomas Hospod

The government of Jersey has published amendments to its previously enacted CRS regulations. The amendments relate to Schedule 2 and Schedule 3 of the regulations, which list the early adopter participating jurisdictions and the late adopter participating jurisdictions, respectively. The lists have been revised to reflect the current official OECD list of jurisdictions that have committed to the automatic exchange of account information under CRS.

As a “wider approach” country, Jersey will require its Financial Institutions to perform due diligence for account holders from all jurisdictions.

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