General

The Commission plans to increase licence fees paid by firms from 1 January 2025 by 5.3%. On 11 September 2024, the Commission issued a consultation paper on the fee rates to apply from 1 January 2025 which contained the following proposals: an overall increase in fees of 5.3%; an increase in fees for Retail General Insurers to recognise the additional supervisory effort required to mitigate the...

The Commission has today issued an amended version of its Explanatory Note regarding the surrender of the authorisation or registration of collective investment schemes. The amendments reflect feedback received from industry and practical experience of implementation over the one-year period since the publication of the original Explanatory Note and provide for a more flexible approach to the...

In advance of the publication of the Commission’s fee consultation feedback paper in December, please note that in early January, the Commission will be distributing 2025 annual fee invoices using the generic email address that we hold on record for each licensee and registrant. If you wish to check which email address the Commission holds for your firm, please contact [email protected] quoting...

Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £288.8 billion, a decrease over the quarter of £6.9 billion (-2.4%). Over the past year, total net asset values are almost unchanged with a decrease of £0.1 billon. Closed-ended Schemes Within these totals, Guernsey closed-ended funds decreased over the quarter by £5.2 billion (-2.1%) to £238.8 billion. This...

The Commission has become aware of a possible phishing attempt being sent purporting to be from the Director General, William Mason using the domains “gfsc-gg.com” and/or "mail-fsc-gg.com." If you have received an email from the Commission and you are unsure of its authenticity, please do not click on any links or attachments and instead forward it to [email protected]. The Commission sends its...

On 30 July 2024, the Commission issued a Discussion Paper on the Future of Sustainability Reporting in the Bailiwick of Guernsey. The consultation period ran for approximately 12 weeks and closed on 25 October 2024. The Commission is very pleased to have received a material number of responses from a broad range of stakeholders including licensees, industry representative bodies and other on and...

On Tuesday 8 October, the Commission held three one-hour Approach to Risk Based Supervision – a refresher sessions at Les Cotils. The sessions, attended by almost 400 individuals, covered: 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 and thematic visits to returns and notification...

The Commission has become aware of a possible phishing attempt being sent purporting to be from the Commission. The email is asking recipients to log into the PQ portal to update their OPQ. If you have received an email from the Commission and you are unsure of its authenticity, please do not click on any links or attachments and instead forward it to [email protected]. The Commission sends its...

On 11 September 2024, the Guernsey Financial Services Commission and Guernsey Finance hosted Finovation: The Guernsey Edge at Beau Sejour Leisure Centre. Attendees heard how Guernsey could leverage its unique position to harness technology in driving growth and improving efficiency. The Commission is pleased to provide recordings of the day's sessions, along with slides (where available): Welcome...