External Evaluations

The Commission has today formally become a signatory of IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU). It becomes the sixteenth regulator to be permitted to become a signatory, after a rigorous multi-year evaluation process overseen by the US Securities and Exchange Commission. The EMMoU was designed by IOSCO (The International Organization of Securities Commissions [1]) to...

On 12 June 2019 the International Association of Insurance Supervisors (IAIS) approved the Detailed Assessment of Observance of IAIS Insurance Core Principles by the Bailiwick of Guernsey. The IAIS is one of the principal international standard setting bodies, to which the Bailiwick has a long standing commitment. The report follows an assessment of Guernsey against the Insurance Core Principles...

On 15 January 2016 the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) issued its report on the Fourth Assessment on the Bailiwick of Guernsey's Anti-Money Laundering and Combating the Financing of Terrorism controls. The report shows that Guernsey has made major progress against the evolving international...

The IMF has today published six reports arising from its evaluations in March and May 2010 of the Bailiwick’s financial supervision and criminal justice frameworks. The reports commend Guernsey as having financial sector regulation and supervision of a high standard across all sectors, and a legal framework which provides a sound basis for an effective AML/CFT regime, with preventive measures...

In November 2003 the International Monetary Fund (IMF) issued a report on its evaluation of Guernsey’s financial regulation and law enforcement standards. This assessment was part of its programme of assessments of the regulatory standards of all financial centres. The IMF concluded that Guernsey has ‘a high level of compliance’ with each of the international standards against which the Bailiwick...

At its annual general meeting in September 2000 the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering ("FATF") and was carried out in 1999 by independent experts from France, Malta...

At its annual general meeting this month the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering and was carried out in 1999 by independent experts from France (law enforcement expert)...

Guernsey has won the backing of the international Financial Action Task Force (FATF) for its impressive regulatory and criminal law framework and how the Bailiwick cooperates in practice against money laundering. The FATF was set up after the 1989 meeting of the Group of Seven Finance Ministers to look at the regulatory standards and practices employed in finance centres as part of the global...

1. Executive Summary The Edwards Report, which was published in November 1998, was welcomed by the Guernsey Authorities as independent confirmation of the Island's high standard of financial services regulation and its commitment to combat crime of all types. It endorsed the strength of Guernsey in the areas reviewed and described the Bailiwick as being in the "top division of offshore finance...