General

The Financial Crime Supervision & Policy Division has prepared a Guidance Note (“Note”) following analysis of both the results of onsite visits undertaken by the Commission since 2012 and trends identified from financial crime assessments undertaken at local and international level. This Note is intended to further assist businesses in understanding the Commission’s expectations in relation to...

The Commission has announced the appointment of Emma Bailey as the new Director of the Investment Supervision and Policy Division. She will take up her new role in August when the current Director, Carl Rosumek, leaves the Commission. William Mason, Director General, said “I am very pleased that we have been able to appoint Emma to this very important position which follows a rigorous internal...

​The Commission is today issuing Instruction Number M 01/2014 for Financial Services Businesses and Instruction Number M 01/2014 for Prescribed Businesses, copies of which can be accessed from the FC&A section of the Commission's website: Instruction M 01/2014 for Financial Services Businesses and Instruction M 01/2014 for Prescribed Businesses 3 June 2014

Instruction – Fiduciary Licensees - Anti-Money Laundering - Compliance Arrangements As licensees are aware, global standards and expectations in relation to the detection, forestalling and preventing of money laundering and terrorist financing (“ML/TF risks”) have evolved over the years to reflect the ways in which these risks can occur and the measures required to mitigate them. It is important...

Please click here to view letter from the Financial Crime & Authorisation Division to Chief Executive Officers of Financial Services Businesses.

​ Following a request by the Commerce and Employment Department (“C&E”) the Commission released a consultation paper last September on the steps required to implement the new Guernsey Financial Advice Standards (“GFAS”). C&E had identified that the introduction of GFAS would protect and enhance Guernsey’s reputation as a leading International Financial Centre, provide better value service from...

Last week the Commission and the Financial Investigation Unit held a co-sponsored seminar entitled “Suspicious Activity Reporting” (SAR) which covered Trends, Tips, Analysis and Engagement. The purpose of the seminar was to provide industry, and particularly Money Laundering Reporting Officers, with the latest information in relation to SAR and the main areas which were covered included: - The law...

The Commission’s Director General, William Mason, today gave the key note speech at the annual Guernsey conference of the Institute of Chartered Secretaries and Administrators. The theme of his speech was “Ethics in Governance” in which he set out to make the case for a meaningful discussion of morality at the boardroom table and for ethical codes which can inform decision making at all levels of...

​ The Commission and the Financial Intelligence Service will be holding a co-sponsored seminar entitled “Suspicious Activity Reporting (SAR): Trends, Tips, Analysis and Engagement” on Thursday 8 May 2014. The purpose of the seminar is to provide industry, particularly Money Laundering Reporting Officers, with information in relation to SARs. The following areas will be addressed as part of this...