News

Consumers

Qualifications, Training and Competence

15th August 2015
A presentation on “Guernsey Financial Advice Standards – Qualified and Competent” has been given to the local branch of the Chartered Institute for Securities & Investment by the Commission. This presentation, which was followed by a question and answer session, aimed to raise awareness of the qualification and competence requirements on Financial Advisers who give advice to retail clients on...

Trinity Global Fund

8th May 2015
​As cited in our news release dated 5th May 2015, the matters relating to the application by the Guernsey Financial Services Commission under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance, 2008 for the appointment of Administration Managers to Trinity Global Fund were adjourned until 7th May 2015.On 7th May 2015 in the Royal Court of Guernsey...

Lancelot Management Limited

5th May 2015
​ On the 24 April the applications made by The Guernsey Financial Services Commission, under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance, 2008 for the appointment of Administration Managers to Lancelot Management Limited and Trinity Global Fund were adjourned until the 1 May 2015. During the interim period Mr Daryn Hutchinson a director of...

Commission moves to protect investors

24th April 2015
The Guernsey Financial Services Commission, acting to protect the interests of investors and pursuant to powers granted to it under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance of 2008, today made an application to the Court to have administrators appointed to a number of Guernsey authorised investment schemes. As a result of that application, the...

The Global Mutual Fund PCC Limited

1st April 2015
The Financial Services Commission (Bailiwick of Guernsey) Law 1987; as amended (the “Financial Services Commission Law”); and The Protection of Investors (Bailiwick of Guernsey) Law 1987 (the “Protection of Investors Law”) The Guernsey Financial Services Commission (the “Commission”) issues this notice pursuant to its powers under section 2(2)(e) of the Financial Services Commission Law, and...

CWM Cells

26th March 2015
​ It has come to the Guernsey Financial Services Commission’s attention that a website cites the following as cells of The Global Mutual Fund PCC Limited, a fund authorised in Guernsey: CWM Capital Fund CWM Balanced CWM Equity Fund CWM Prime Fund CWM Property Fund Please note that the above are not cells approved by the Guernsey Financial Services Commission.

AML/CFT Handbooks Review

24th March 2015
​In 2014, the Commission commenced a review of the two Handbooks which provide the legal and regulatory framework for the financial services businesses and prescribed business sector on measures to address Anti Money Laundering and Combating the Financing of Terrorism. The Commission wanted to adopt a collaborative approach to the review and formed a joint working party with representatives of...

Risk Warning Regarding the Increased Use of Compromised E-mail Accounts and Phone Spoofing to Commit Fraud

11th March 2015
The Commission is aware that there has been an increase in the number of attempted, and in some cases successful, frauds on customer bank accounts held with local financial institutions. This has occurred via the use of compromised e-mail accounts or through the "piggy-backing" of e-mails. These fraudulent attempts are being made across a wide range of financial institutions with as yet no...

Guernsey Financial Consultants Limited

6th March 2015
​ The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (“the Financial Services Commission Law”) The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002, as amended (“the Insurance Managers and Insurance Intermediaries Law”) Guernsey Financial Consultants Limited (“GFC”)On 27 February 2015 the Guernsey Financial Services Commission (“the...