Fiduciary

On 8 September the Policy Council signed the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2008. The main changes to the December 2007 regulations for financial services businesses created by the amendment regulations include: 1. The introduction of a requirement for regulated financial services businesses to register with the...

​ In light of recent developments, the Commission has issued a sixth Business from Sensitive Sources Notice which is available here. This sixth Business from Sensitive Sources Notice supersedes Business from Sensitive Sources Notice - Number 5. The Commission would be pleased to provide further advice if you have any queries arising from this Notice.

In the spring of last year the Commission consulted on, amongst other matters: (i) amendments to the minimum criteria for licensing in the Banking Supervision (Bailiwick of Guernsey) Law, 1994; the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000; the Insurance Business (Bailiwick of Guernsey) Law, 2002; and the Insurance Managers...

Claridges Trustees Limited, Claridges Trust Company (Guernsey) Limited, First Nominees Limited and Second Nominees Limited were authorised to conduct fiduciary activities under the transitional provisions of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000 by virtue of a joint licence application made in 2001. This application...

Claridges Trustees Limited, Claridges Trust Company (Guernsey) Limited, First Nominees Limited and Second Nominees Limited were authorised to conduct fiduciary activities under the transitional provisions of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000 by virtue of a joint licence application made in 2001. This application...

Claridges Trustees LimitedClaridges Trust Company (Guernsey) LimitedFirst Nominees LimitedSecond Nominees Limited (all incorporated in Guernsey and together referred to as “Claridges”) On 14 December 2007 the Guernsey Financial Services Commission gave notice to Claridges of the refusal of Claridges’ application for a full fiduciary licence under the Regulation of Fiduciaries, Administration...

​ The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 have now been signed by the Policy Council and, as anticipated, come into force on 15 December. The Commission is also now formally issuing the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing (containing rules and guidance) dated 15...

​ Business from Sensitive Sources Notice 5

​GUERNSEY INTERNATIONAL FINANCIAL SERVICES COMMISSION, INTERNATIONAL FINANCIAL SERVICES CERTIFIED PAYMENT LIABILITY COVERAGE, IFSP & LC CERTIFICATION DECLARATION FORM The Commission has become aware of a scam in which victims are asked to pay a fee in order to obtain “Certified Payment Liability Coverage” from the “International Financial Services Commission”, to enable funds to be released. The...