A recurring theme in our blogs over the past nine months or so has been the digitalisation of Jersey Registry, and the work we have been doing at TrustQuay to enable statutory submissions through APIs for our customers. This work means you would be able to check the Registry data for your entities, and submit regulatory reports and notifications using 5Series and NavOne.
If we look back at the journey, the Jersey Financial Services Commission (JFSC) first started engaging with the industry and technology providers in early 2020. We were keen to get involved early, so we made sure that we followed the developments from the very beginning and participated in the conversations as soon as possible.
The JFSC set out ambitious targets in their digitalisation journey. The JFSC released draft API schemas in September 2020, and that is when we started our development work. Initially, the plan was to enable Digital Registry by the end of 2020, but as the challenge of effectively making an instant digital switchover was realised, the challenge of the deadline soon became clear to the Jersey FSC. This resulted in several postponements of the main submission deadline, from 28 February 2021 to the final move to 30 September 2021.
In June 2021, the time came for the final step: before fully enabling the APIs and releasing the software to our customers, there is a requirement to pass the tests set out by the JFSC. Having reached this milestone, we are now able to release the Digital Registry functionality to our customers.
There may have been a few bumps along the way, but the Jersey Digital Registry is now truly here!
Nina is Compliance Product Manager at TrustQuay