Financial Crime

On 4th of August the Commission issued: Instruction (Number 13) for Financial Services Businesses and Instruction (Number 11) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources, see the Instructions page on this website.

​Appendix C of the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime ad Terrorist Financing has been revised to add Bulgaria, Estonia, Latvia, Lithuania and Liechtenstein as jurisdictions whose financial services businesses and prescribed businesses may be treated as if they were local. A version of the revised Handbook, which includes coloured text to...

The Commission has made a number of changes to the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing and to the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing. The principal changes are to the chapters on Reporting Suspicion and UN, EU and Other Sanctions. A copy of the Handbook...

The EU has issued Council Regulation (EU) No. 588/2011, which added further individuals and entities to Annex 1A to Council Regulation (EC) No. 765/2006 and amended the 2006 regulation to impose an arms embargo. The changes take effect in Guernsey under the Belarus (Freezing of Funds) (Guernsey) (Amendment) Ordinance, 2011 and the Belarus (Freezing of Funds) (Guernsey) Ordinance, 2006. Financial...

​ The States of Guernsey has adopted 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.

​ FIVE new Deputy Directors have been appointed at the Guernsey Financial Services Commission. They will fill four vacant positions besides one newly created. All the successful candidates have been recruited from inside the Commission. The new post is a second Deputy Director of the Investment Business Division, in order to strengthen the department. The appointments are: Emma Bailey and Louise...

​ The Commission has placed a revised draft of the Finance Sector Code of Corporate Governance on the consultation page of its website . Any comments on the Code should be provided in writing to the Policy and International Affairs team at the Commission by close of business on 1 June. Code of Corporate Governance - Consultation Paper for GFSC

​ On 4th April the Commission issued: Instruction (Number 12) for Financial Services Businesses and Instruction (Number 10) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources Notices, see the Business from Sensitive Sources & Instructions page of this website.

​ The EU has revised its sanctions list in relation to Belarus to include President Lukashenko and certain officials of Belarus. Accordingly, Council Implementing Regulation (EU) No 271/2011 has amended Annexes 1 and 1A to Council Regulation (EC) No 765/2006. Council regulation (EC) No 765/2006 is implemented in Guernsey by the Belarus (Freezing of Funds) (Guernsey) Ordinance, 2006 which is made...