Consultations

The Commission has today published a Consultation Paper setting out the Commission’s proposed Rules and approach to regulating equity release products. Equity release allows homeowners to release some of the value tied up in their home. It is a financial product available to people in later life who may have limited incomes and considerable housing equity. Customers can obtain cash releases whilst...

The Commission today launches a consultation paper on proposals for increasing the licence fees paid by firms. The consultation period will close on Friday 4 October. The Commission is consulting on an overall increase in fees of 5.3%. Other specific proposals relating to fees that are outlined in the consultation paper are: Increasing fees for Retail General Insurers (‘RGI’); Applications to...

The Guernsey Financial Services Commission has today issued a discussion paper seeking views on international sustainability reporting in the Bailiwick. The paper is intended to enable the Commission, in discussion with the finance industry, to explore the next steps that the Bailiwick of Guernsey can take to meet the challenges presented by sustainability and climate change risk. This discussion...

The Commission has today issued a feedback paper following the consultation on disclosure rules for insurance intermediaries issued in 2023. The Commission is grateful for the responses received. The feedback paper, along with the Insurance Intermediaries (Amendment) Rules, 2024, can be found on the Commission’s Consultation Hub . The amendments to the rules will come into effect on 1 st January...

The Commission has today issued a feedback paper following the consultation on rules for retail general insurers issued in 2023. The Commission is grateful to all those who responded. We have carefully considered the views expressed in reaching our conclusions and in deciding on the final updates to the insurance rules which are also amended today. Speaking about the amended rules, Jeremy Quick...

Today, the Commission has published a consultation paper proposing amendments to the rules for insurance intermediaries to include some additional disclosure requirements. This affects the thirty-five insurance intermediaries operating in the Bailiwick which are licensed by the Commission. The consultation sets out a proposal that would require the intermediaries to provide information to...

The Commission has today published its feedback paper following the consultation on Lending, Credit & Finance issued on 21 July 2022, together with the final Lending, Credit & Finance Rules and Guidance and a s40 instrument giving notice of various exemptions from the requirement to hold a licence in respect of the carrying on of business regulated by the law. The Lending , Credit and Finance...

The Commission plans to increase licence fees paid by firms from 1 January 2023 by 8.0% with the agreement of the Policy & Resources Committee. On 20 July 2022, the Commission issued a consultation paper on the fee rates and administrative penalties to apply from 1 January 2023, which contained the following proposals: an overall proposed increase in fees of 9%; application and annual fees in...

The Commission has today published a Consultation Paper setting out the Commission’s Rules and approach for regulating the sectors covered by The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022, and is seeking feedback on its proposed Rules and approach. The purpose of the new Law, which was passed by the States of Guernsey on 14 July 2022, is to protect customers in the Bailiwick...