General

The Commission will be running three one-hour Approach to Risk-based Supervision – a refresher sessions on Tuesday 8 October. The voluntary sessions, aimed at anyone interested in learning more about risk-based supervision, will cover: the Commission's approach to risk-based supervision, including what risk-based supervision is and how it works; how the Commission engages with firms, from onsite...

The Guernsey Financial Services Commission has today issued a Consultation Paper seeking views from interested parties on a proposal to permit Pension Service Providers (PSPs) to be formed as Protected Cell Companies (PCCs). Under the current legal framework, a company cannot be a PCC unless it falls under certain prescribed regulated categories, which do not include PSPs. The Consultation Paper...

The Commission today launches a consultation paper on proposals for increasing the licence fees paid by firms. The consultation period will close on Friday 4 October. The Commission is consulting on an overall increase in fees of 5.3%. Other specific proposals relating to fees that are outlined in the consultation paper are: Increasing fees for Retail General Insurers (‘RGI’); Applications to...

The full line up of speakers, including respected international voices, has been announced for ‘Finovation: The Guernsey Edge’ taking place at Beau Sejour Leisure Centre on Wednesday 11 September. The one-day conference, jointly hosted by the Guernsey Financial Services Commission and Guernsey Finance, will consider the opportunities for Guernsey to leverage its nimbleness, robust legal framework...

Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £295.7 billion, an increase over the quarter of £3.2 billion (+1.1%). Over the past year, total net asset values have increased by £9.7 billon (+3.4%). Closed-ended Schemes Within these totals, Guernsey closed-ended funds increased over the quarter by £2.5 billion (+1.0%) to £244.0 billion. This represents an...

The Guernsey Financial Services Commission is pleased to note that John Aspden has been appointed as Chairman following approval by the States of Deliberation. John, who has been a Commissioner since 2017 and Vice-Chairman since February 2023, has taken over from Julian Winser who retired as Chairman and Commissioner in May. The Commission has also elected a new Vice-Chairman, Anna Guggenheim KC...

An exciting line-up of speakers has been confirmed for a technology conference jointly hosted by the Guernsey Financial Services Commission and Guernsey Finance. ‘Finovation: The Guernsey Edge’, taking place on Wednesday 11 September, will consider the opportunities for Guernsey to leverage its nimbleness, robust legal framework and approach to regulation to make financial services better with...

First Quarter 2024 Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £292.5 billion, an increase over the quarter of £2.6 billion (+0.9%). Over the past year, total net asset values have increased by £3.8 billon (+1.3%). Closed-ended Schemes Within these totals, Guernsey closed-ended funds increased over the quarter by £1.4 billion (+0.6%) to £241.5 billion...

The Guernsey Financial Services Commission has today published its 2023 annual report and financial statements. In the annual report, the Commission discusses: its preparations for the Bailiwick’s 2024 MONEYVAL inspection; its continued development of digital technology to enhance performance and streamline processes for industry; and the introduction of the new Lending, Credit and Finance Law...