Financial Crime

The Commission has today issued updates to two appendices in the Handbook on Countering Financial Crime which add Gibraltar to the Appendix C list of equivalent jurisdictions and update the Appendix I list of higher risk jurisdictions following the Financial Action Task Force changes to its list of jurisdictions under increased monitoring. Gibraltar’s addition to Appendix C means that in certain...

The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (the “Enforcement Powers Law”) The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) [1] The Beneficial Ownership of Legal Persons (Guernsey) Law, 2017 (the “Beneficial Ownership Law”) Schedule 3 to Criminal Justice (Proceeds...

The Commission wishes to remind all financial services businesses and prescribed businesses that the 2024 Financial Crime Risk Return (“the FCRR”) is due for submission by 31 October 2024. Please note that for financial services businesses the FCRR is subject to late and inaccurate filing penalties. Firms which are required to complete the FCRR will find it available via the Commission’s Online...

On Thursday 8 August and Friday 9 August the Commission delivered three presentations regarding the findings from its thematic review of Governance, Risk, and Compliance Controls to Counter Financial Crime - Estate Agency, Legal and Accountancy Services published on 4 April 2024. These sessions were attended by over 100 people. Slides from the presentation can be found on the Events page or...

The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (the “Enforcement Powers Law”) The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) [i] The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (the “Regulations”)...

The Commission has today issued an amendment to the country list in Appendix I of the Handbook on Countering Financial Crime (AML/CFT/CPF) (the “Handbook”) reflecting the Financial Action Task Force (“FATF”)’s updated list of jurisdictions under increased monitoring, which added Monaco and Venezuela. Monaco has been added to Appendix I whereas Venezuela was already included due to being listed by...

On Thursday 8 August and Friday 9 August 2024 the Commission will be hosting a series of sector specific presentations regarding the findings from its thematic review of Governance, Risk and Compliance Controls to Counter Financial Crime – Estate Agency, Legal and Accountancy Services published on 4 April 2024. These sessions will also cover recent changes to legislation relevant to these...

The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (the “Enforcement Powers Law”) The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) [1] The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey)) Regulations, 2007 (the “Regulations”)...

The Commission wishes to remind all firms responsible for one or more collective investment scheme that the Intermediary Annual Return for 2024 (the "Intermediary Return") is due for submission by 31 May 2024. Firms which are required to complete the Intermediary Return will find it available via the Commission's Online Submissions Portal. Should you see an Intermediary Return on your firm's...