General

The Commission is maintaining its efforts to monitor financial stability issues across the financial services sector. As part of this, the Commission considers it essential that firms continue to make accurate regulatory returns in a timely manner. The Commission appreciates that some firms may encounter challenges in their interactions with some third parties in preparing their regulatory returns...

The Commission is maintaining its efforts to monitor financial stability issues across the financial services sector. As part of this, the Commission considers it essential that firms continue to make accurate regulatory returns in a timely manner. The Commission appreciates that some firms may encounter challenges in their interactions with some third parties in preparing their regulatory returns...

The Commission has published some FAQs on the consumer pages of its website to help inform consumers. These aim to provide easily accessible and clear information on the possible impact of coronavirus (Covid-19) on travel insurance and medical insurance for people living in the Bailiwick. With the Foreign and Commonwealth Office now advising against "all but essential travel" to Italy, it has...

The Commission's Conduct Unit has added some additional FAQs to the consumer pages of the Commission's website to help inform consumers. These latest FAQs aim to provide easily accessible and clear information on the possible impact of coronavirus (Covid-19) on travel insurance and medical insurance for people living in the Bailiwick. The FAQs can be found here .

The Commission is today issuing Instruction No. 01/2020 for Specified Businesses, replacing and repealing Instruction No. 03/2019 for Specified Businesses issued on 29 November 2019. Changes since Instruction No. 03/2019 include the addition of Albania, Barbados, Jamaica, Mauritius, Myanmar, Nicaragua and Uganda, and the removal of Trinidad and Tobago. Further details in respect of these...

As part of its three-year business plan, the Commission is undertaking a series of technology-based projects in collaboration with academics from University College London (UCL) and regulatory and data AI start-up, Regul-AI-tion. In particular, these projects are focused in the areas of SupTech (Supervisory Technology) and RegTech (Regulatory Technology), both of which are sub-sets of the wider...

Fourth Quarter 2019 Investment Funds The net asset value of total funds under management and administration has decreased in Sterling terms during the last quarter by £17.7 billion (-6.2%) to £268.3 billion. Over the past year, total net asset values decreased by £13.3 billion (-4.7%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds decreased over the quarter by £1.9...

The Commission is today issuing final rules and guidance under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (the "Fiduciaries Law") which will ensure that the Bailiwick’s regulatory regime continues to be compliant with international standards and appropriate for the Guernsey market. The new Fiduciary Rules and Guidance will...

On 10 & 11 February 2020 representatives of the Policy & Resources Committee, the Guernsey Financial Services Commission (“the Commission”) and the Financial Intelligence Service gave presentations on the Bailiwick’s National Risk Assessment of Money Laundering and Terrorist Financing risks ("the NRA"). The Commission’s presentation covered the main money laundering and terrorist financing risks...