Fiduciary

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 Fiduciary Supervision Policy and Innovations Division has published the finding of its 2016 Thematic Review of "Client Money". A copy of the report can be found by clicking on the following link: Client Money - Thematic Review 2016

GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2017 All businesses, entities and individuals licensed by or registered with the Guernsey Financial Services Commission are reminded that the payment of annual fees to the Commission are due by 31 January 2017. If payment is received after the due date a late payment penalty fee will be applied in accordance with Regulation 2 of the Financial...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 as amended ("the Financial Services Commission Law") The Regulation of Fiduciaries, Administration Businesses and Company Directors etc (Bailiwick of Guernsey) Law 2000 (“the Fiduciaries Law”) The Protection of Investors (Bailiwick of Guernsey) Law, 1987 The Banking Supervision (Bailiwick of Guernsey) Law, 1994 The Insurance...

The Commission wishes to remind all financial services and prescribed businesses, together with personal fiduciary licence holders, that the Financial Crime Risk Return is due for submission by 31 October 2016. The Return can be found through the Commission’s Online Submissions Portal, located here: https://submit.gfsc.gg/ Further information on the background to the Return, as well as guidance on...

United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove nineteen entities from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendment are...

​ISIL (DA’ESH) AND AL-QAIDA NETWORK This Notice is issued further to a previous Sanctions Notice issued in relation to the updating of information about an individual on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267 (the listed person). Please be advised that a corresponding change has now been made to the list...

Iraq United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove one entity from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendment are...

Please be advised that the United Nations Security Council has amended the details in respect of fourteen individuals (“the listed persons”) on the list of persons maintained under United Nations Security Council Resolution 1988. All persons on the list are subject to restrictive measures which include targeted financial sanctions. Further details are available here: https://www.un.org/press/en...