General

The Commission has today published revised guidance on the regulatory requirements for Private Trust Companies (“PTCs”) and the expectations of licensed fiduciaries which administer PTCs. The key revision to the guidance is the replacement of the previous requirement for a representative of an administering Full Fiduciary Licensee to sit on the board of a PTC with a more outcomes-based approach...

The Commission has issued an FAQ to those considering investing in mini-bonds. It can be found here .

The Commission has today issued its report on the thematic review of beneficial ownership of Guernsey and Alderney legal persons managed or administered by fiduciary licensees. The review was undertaken during the latter part of 2018 and the early part of 2019. A copy of the thematic review can be found by clicking on the following link: Beneficial Ownership of Guernsey and Alderney Legal Persons...

The Commission has published its 2018 annual report and financial statements. Amongst the themes explored in the report is the level of new financial services business coming to the island last year with the investment sector in particular seeing an uplift in applications. Insurance Linked Securities also continued to see growth. During 2018, the Commission worked with government and industry in...

Members of industry are advised that this event, which will take place on Thursday 4 th April at St James, is now oversubscribed. Waiting lists are in place for sessions 1 and 2 although there are some places still available on session 3. All those attending will need to have registered their interest in advance by emailing the completed invitation form to [email protected] . Registration...

On 30 October 2015, the States of Deliberation approved a Policy Letter submitted by the Policy Council which recommended that the regulatory laws should be updated to reflect current international standards. Representatives of the States of Alderney and the Chief Pleas of Sark had previously indicated their support for the proposals which followed a major public consultation process. More...

The Commission has today issued, in final form, the revised Handbook on Countering Financial Crime and Terrorist Financing. This follows the approval of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2018 by the States of Guernsey during December 2018. The revisions to the rules and guidance in the Handbook, together with the revised legislation, bring the...

The Commission’s Director General, William Mason, yesterday signed an MOU with Andrew Bailey, Chief Executive Officer of the Financial Conduct Authority, which ensures Guernsey firms can continue to use the UK’s National Private Placement Regime after Brexit.

Fourth Quarter 2018 Investment Funds The net asset value of total funds under management and administration has increased in Sterling terms during the quarter ended 31 December 2018 by £1.7 billion (0.6%) to £281.7 billion. For the year since 31 December 2017, total net asset values increased by £11.7 billion (4.3%). Open-ended Funds Within these totals, Guernsey domiciled open-ended funds...