Fiduciary

​The regulatory laws provide that a licence or registration application shall contain or be accompanied by such other information or documents as the Commission may reasonably require, for the purpose of determining the application. Business Risk Assessments (“BRAs”) The Financial Action Task Force (“FATF”) 2012 Recommendations (“the Recommendations”) place even greater emphasis on the importance...

​The Commission is today issuing Instruction (Number 04/2014) for both financial services businesses and prescribed businesses. The instruction has been issued as a result of amendments made to the legislation surrounding the reporting of suspicion. The existing Handbooks are in the course of being reviewed and therefore to minimise the impact, and to avoid reprinting the full Handbook while the...

​The Commission is today issuing Instruction 03/2014 for both financial services businesses and prescribed businesses. The instruction has been issued as a result of amendments made to the sanctions measures against Afghanistan and Al-Qaida to impose a reporting requirement on businesses. The existing Handbooks are in the course of being reviewed and therefore to minimise the impact, and to avoid...

The Commission is today issuing Instruction (Number 02/2014) for Financial Services Businesses and Prescribed Businesses, copies of which can be accessed on the FC&A Section of the Commission's website. The log of Business from Sensitive Sources & Notices document has been updated to enable identification of the changes applied. Instruction (Number 02/2014) for Financial Services Businesses...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (“the Financial Services Commission Law”) The Regulation of Fiduciaries, Administration Businesses, Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended (“the Fiduciaries Law”) The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (“the...

​The Commission is today issuing Instruction Number M 01/2014 for Financial Services Businesses and Instruction Number M 01/2014 for Prescribed Businesses, copies of which can be accessed from the FC&A section of the Commission's website: Instruction M 01/2014 for Financial Services Businesses and Instruction M 01/2014 for Prescribed Businesses 3 June 2014

Instruction – Fiduciary Licensees - Anti-Money Laundering - Compliance Arrangements As licensees are aware, global standards and expectations in relation to the detection, forestalling and preventing of money laundering and terrorist financing (“ML/TF risks”) have evolved over the years to reflect the ways in which these risks can occur and the measures required to mitigate them. It is important...

The Commission has issued the Code of Practice for Foundation Service Providers which comes into operation on 2 September 2013.

On the 26 July the Commission made regulations amending The Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010. The amendments to these regulations mirror changes made to the Regulation of Fiduciaries (Fiduciary Advertisements and Annual Returns) Regulations, 2012 (as amended) to extend the filing date for the annual return from one month...