Consultations

The Commission is today issuing a consultation paper seeking feedback on a number of regulatory proposals for firms involved in lending, credit and finance. The consultation period will close on Friday 15th September 2017. The proposals contained within the consultation paper have a twofold purpose:- A) Opening up Guernsey to more innovative, often digitally enabled, financial services which don’t...

The Commission publishes today, 4 May 2017, a proposed new pensions supervisory framework for consultation as was communicated in the States report published on 27 April 2017, which can be found via this link. This comprises a proposed extension of regulated activities (under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (“the...

The Guernsey Financial Services Commission is consulting on proposals to introduce new FRR rules for full fiduciary licensees. Background The Commission has been working with the Guernsey Association of Trustees (GAT) with the intent of reviewing and updating the FRR as applicable to full fiduciary licensees. Key reasons for the proposed new FRR rules are: 1) to enable Guernsey to meet...

The Guernsey Financial Services Commission has today issued feedback on comments received on its proposals to amend the Code of Conduct for Authorised Insurance Representatives (“the Code”). The Commission has also published the final version of the Code, which will come into effect on 1 April 2017 - this is available to read via the following link: Code of Conduct for Authorised Insurance...

The Commission is today opening a consultation on the Licensees (Conduct of Business) Rules 2016 (Amendment) Rules 2017. The Licensees (Conduct of Business) Rules 2016 (Amendment) Rules 2017 will provide transitional arrangements from the Licensees (Conduct of Business) Rules 2014 and will formally revoke those rules. Responses to the consultation on these Rules which can be found via this link...

The Commission is today issuing a consultation paper on revisions to the Licensee (Conduct of Business) Rules Responses to the consultation which can be found via this link are sought by close of business on 29 December 2016.

The Guernsey Financial Services Commission has today issued feedback on comments received on its proposals to amend the framework underlying the Insurance Business (Bailiwick of Guernsey) Law 2002 (the “Law”) with the making of rules for Special Purpose Insurers and a related, minor amendment to the Insurance Business (Solvency) Rules 2015. The final version of the Insurance Business (Special...

The Commission is today issuing a consultation paper on revisions to the Code of Conduct for Authorised Insurance Representatives. The proposed Code clarifies the minimum standards expected to be met by an authorised insurance representative and takes into account current trading methodologies and rapidly changing and developing customer behaviours. Responses to the consultation which can be found...