Financial Crime

​ 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

​ 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...

​ 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Instruction (Number 12) for Financial Services Businesses and Instruction (Number 10) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources Notices, see the Business from Sensitive Sources & Instructions page of this website.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 States of Guernsey has made The Libya (Restrictive Measures) (Guernsey) (Amendment) Ordinance, 2011, which amends the Libya (Restrictive Measure) (Guernsey) Ordinance, 2011. The Libya (Restrictive Measures) (Guernsey) (Amendment) Ordinance, 2011

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

NOTICE Bahrain, Egypt, Libya, Tunisia, Yemen Prescribed businesses should be alert to the potential for the increased movement of assets related to events in Bahrain, Egypt, Libya, Tunisia and Yemen and, potentially, other jurisdictions subject to significant unrest. When assessing risks related to particular business relationships and occasional transactions, prescribed businesses should consider...

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

​ The IMF has today published six reports arising from its evaluations in March and May 2010 of the Bailiwick’s financial supervision and criminal justice frameworks. The reports commend Guernsey as having financial sector regulation and supervision of a high standard across all sectors, and a legal framework which provides a sound basis for an effective AML/CFT regime, with preventive measures...