Financial Crime

​On 22nd of November the Commission issued the following instructions in relation to Iran: Instruction (Number 14) for Financial Services Businesses and Instruction (Number 12) for Prescribed Businesses

​The States Legislation Select Committee has made the Belarus (Freezing of Funds) (Guernsey) (Amendment) (No.2) Ordinance, 2011 and the Syria (Restrictive Measures) (Guernsey) (Amendment) (No.2) Ordinance, 2011. Copies of both Ordinances can be find below. The Belarus (Freezing of Funds) (Guernsey) (Amendment) (No.2) Ordinance, 2011 The Syria (Restrictive Measures) (Guernsey) (Amendment) (No.2)...

HM Procureur has issued guidance on prosecution for tipping off. A copy of the guidance can be found on the States of Guernsey website at http://www.gov.gg/CHttpHandler.ashx?id=4637&p=0.

​The States Legislation Select Committee has amended the Libya (Restrictive Measures) (Guernsey) Ordinance, 2011. A copy of the amendment Ordinance can be found here.

​The restrictive measures in place against certain persons, entities and bodies in view of the situation in Libya have been modified. The States of Guernsey press release can be found at http://www.gov.gg/sanctionslibya

The States of Guernsey has adopted further restrictive measures against certain persons, entities and bodies in view of the situation in Syria. A link to the States of Guernsey press release can be found at here.

The Commission has written today to all financial services businesses and prescribed businesses in the following terms: A number of financial services businesses have asked the Commission about the implications of the United Kingdom Bribery Act 2010 to the Bailiwick. The Act came into force on 1 July 2011. While not directly effective in this jurisdiction, it may nevertheless apply to people in...

​ The States of Guernsey has implemented certain specific restrictive measures against individuals, groups, undertakings and entities in view of the situation in Afghanistan. A link to the States of Guernsey press release can be found at here.

Appendix C of the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing has been revised to add Bulgaria, Estonia, Latvia, Lithuania and Liechtenstein as jurisdictions whose authorised financial services businesses may be treated as if they were local. A version of the revised Handbook, which includes coloured text to show the changes, has been placed on...