Update to the Jersey authorities approach to PTCs
The latest “twist” in the Jersey authorities approach to Private Trust Companies will have come as no surprise to Altum’s clients.
In March we published our ‘All change’ for the regulation of Jersey Private Trust Companies blog noting that “while a PTC would not on the face of it seem to meet some of the indicative tests given for conducting its activity as a business, the “mood music” from the authorities suggests that the intention is for PTCs to be caught.”
This is the effect of the amended legislation, and our regulatory expertise meant we were able to ensure our clients were properly registered by the original deadline, avoiding legal uncertainty and unnecessary costs.
At Altum Group, we use our experience and expertise to protect our clients in an evolving regulatory and legal landscape. If you have any questions and would like to connect with our expert team, please connect with John Evertt or James Milner.