The Jersey Financial Services Commission (JFSC) has updated its beneficial ownership guidance for companies owned by a trust.

Now, settlors who have given up all powers of control over the trust do not need to be listed as a controller of the company.

While settlors, instigators and arrangers will not be recorded as controllers, the Jersey regulator will still collect their details.

The guidance was last updated in January 2021, when the Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020 came into force.

The law established a new central register of beneficial owners and s...