Jamie Bookless
Group Partner*
Guernsey
The States of Guernsey have published a consultation on 'legitimate interest access' to Guernsey's beneficial ownership register. The consultation closes on 10 April 2026. This follows on from a similar consultation by the Government of Jersey which was launched late last year and closed on 30 January 2026.
Both Guernsey and Jersey are proposing to extend access to their central registers of beneficial ownership for the purposes of preventing, detecting, or investigating money laundering, terrorist financing and proliferation financing. Both Islands reaffirmed in 2019 and again in 2023 their intention to provide effective access to up to date and verified beneficial ownership information for law enforcement and tax authorities, acknowledging that transparency initiatives must be balanced with the protection of privacy.
These proposals follow commitments made by all three of the Crown Dependencies, and it is expected that the Isle of Man will also issue proposals for legitimate interest access.
Why allow access to those with a 'legitimate interest'?
Both Islands are leading international finance centres with a strong regulatory framework. Beneficial ownership transparency is a core requirement of international AML/CFT/CPF standards, including those issued by the Financial Action Task Force. Both Guernsey and Jersey emphasise that legitimate interest access is a complex policy area and is monitoring approaches and challenges emerging in other jurisdictions to ensure they adopt a carefully balanced regime.
Both Islands emphasise a risk based, proportionate implementation, balancing transparency with broader policy considerations and respect for individual rights.
How is 'legitimate interest' defined?
Under both consultations, 'legitimate interest' is proposed as access granted to 'natural persons who can demonstrate a legitimate interest in accessing beneficial owner information for the purpose of preventing, detecting, or investigating money laundering, terrorist financing and proliferation financing offences'.
Applicants must therefore evidence:
- Legitimate purpose – the person is engaged in the prevention, detection or investigation of money laundering; and
- Access is necessary – access to the information is necessary for that purpose.
The mere existence of a legitimate purpose will not suffice - applicants must also show a direct connection to their work and that access proportionate to the stated purpose.
Both consultations identify certain categories of persons who can be considered to have legitimate purpose. The categories include journalists whose work is directly connected to the prevention of ML/TF/PF, civil society organisations and academic institutions and digital KYC service providers.
What information will be provided if legitimate interest can be demonstrated?
Disclosure will be strictly limited to what is necessary, being: the name of the beneficial owner; month and year of birth; country of residence; nationality of the beneficial owner; nature and extent of beneficial interest.
It is proposed that requests for bulk data downloads will not be permitted as a matter of course, due to the significant interference with privacy rights and the disproportionate nature of such access in relation to the policy aims pursued.
Will there be exemptions?
Both Islands recognise that some beneficial owners will have extenuating circumstances and require protection from disclosure. Proposed exemptions include where disclosure could place a beneficial owner or their family at serious risk of violence, intimidation or physical or mental harm. There is also a general exceptional circumstances exemption.
Next steps
Published feedback on the closed Jersey consultation is awaited.
If you would like support preparing responses for the Guernsey consultation, or want to explore the potential implications of these developments for your organisation in either Guernsey or Jersey, please contact our Regulatory and Risk Advisory team listed below.
