General

​ FUNDS UNDER MANAGEMENT CONTINUE TO GROW STATISTICS FOR NON-FUND INVESTMENT SECTOR RELEASED Investment Funds The net asset value of total funds under management and administration grew by £6.2 billion (2.4%) over the quarter ended 31 March 2011 to £263.6 billion. For the year since 31 March 2010, total net asset values increased by £66.2 billion (33.6%). Within these totals, Guernsey domiciled...

​ The States of Guernsey has adopted restrictive measures against certain persons, entities and bodies in view of the situation in Syria. A link to the States of Guernsey press release can be found at here .

​ FIVE new Deputy Directors have been appointed at the Guernsey Financial Services Commission. They will fill four vacant positions besides one newly created. All the successful candidates have been recruited from inside the Commission. The new post is a second Deputy Director of the Investment Business Division, in order to strengthen the department. The appointments are: Emma Bailey and Louise...

​ The Commission has placed a revised draft of the Finance Sector Code of Corporate Governance on the consultation page of its website . Any comments on the Code should be provided in writing to the Policy and International Affairs team at the Commission by close of business on 1 June. Code of Corporate Governance - Consultation Paper for GFSC

​ On 4th April the Commission issued: Instruction (Number 12) for Financial Services Businesses and Instruction (Number 10) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources Notices, see the Business from Sensitive Sources & Instructions page of this website.

​ The EU has revised its sanctions list in relation to Belarus to include President Lukashenko and certain officials of Belarus. Accordingly, Council Implementing Regulation (EU) No 271/2011 has amended Annexes 1 and 1A to Council Regulation (EC) No 765/2006. Council regulation (EC) No 765/2006 is implemented in Guernsey by the Belarus (Freezing of Funds) (Guernsey) Ordinance, 2006 which is made...

​The States of Guernsey has made The Libya (Restrictive Measures) (Guernsey) (Amendment) Ordinance, 2011, which amends the Libya (Restrictive Measure) (Guernsey) Ordinance, 2011. The Libya (Restrictive Measures) (Guernsey) (Amendment) Ordinance, 2011

​ The States of Guernsey has adopted restrictive measures against certain persons and entities in view of the situation in Egypt. A link to the States of Guernsey press release can be found at here .

​ THE Deputy Director of Banking at the Guernsey Financial Services Commission will succeed Diane Colton as Director of Insurance. Jeremy Quick will take up the post with immediate effect. He is a Fellow of the Institute of Operational Risk, and has published several articles on the subject. He started his career at the Bank of England where he worked on developing world economics and banking...