Financial Crime

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to: Terrorism and Terrorist Financing; and ISIL (Da’esh) and Al-Qaida Network. TERRORISM AND TERRORIST FINANCING HM Treasury has renewed the final designation of one individual under the Terrorist Asset-Freezing etc...

The Commission has today published a short guide which explains what risk based supervision is and what it means for licensees. Please click here. At its core, risk based supervision accepts the premise that resources are finite, that there is no unlimited pool of public or industry funding on which to draw and that every regulator has to make choices about what it will do and what it will not do...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Terrorist Financing, Al-Qaida, Libya and Iran. TERRORISM AND TERRORIST FINANCING HM Treasury has revoked the final designation of one individual under the Terrorist Asset-Freezing etc. Act 2010. The individual is...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Iran, ISIL (Da’esh) and Al-Qaida Network. IRAN Council Regulation (EU) No 267/2012, as implemented in the Bailiwick by the Iran (Restrictive Measures) (Guernsey) Ordinance, 2012, the Iran (Restrictive Measures)...

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, as amended (“the Fiduciaries Law”) The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 as amended...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Iran – Nuclear Proliferation. In recognition of the steps taken by Iran to comply with the Joint Comprehensive Plan of Action agreed 6 months ago with the E3/EU+3, amendments have been made to Council Regulation...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern two separate sanctions notices relating to ISIL and the Al-Qaida Network. ISIL (Da'esh) and Al-Qaida Network The United Nations Security Council has deleted one individual from the list of persons associated with ISIL (Da’esh) and Al...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to ISIL and the Al-Qaida Network, and the Central African Republic. ISIL (DA’ESH) AND AL-QAIDA NETWORK Please be advised that the United Nations Security Council has amended the details in respect of one individual (...

Please be advised that HM Treasury has issued a guidance note on operating within the UK’s counter-terrorism legal framework, which includes sanctions measures. Although the guidance note is aimed at Non-Governmental Organisations (NGOs) it is relevant to other sectors. Like other guidance on sanctions and related measures previously issued by HM Treasury, the guidance note is neither applicable...