Insurance

​The list of persons designated under Council Regulation (EC) 2580/2001 has been updated by Council Implementing Regulation (EU) No 2015/513 with effect from 27 March 2015. Existing designations in respect of 10 individuals and 23 entities have been renewed, and designations in respect of two other entities have been removed. The entities whose designations have been removed are: Al-Takfir and Al...

The Commission has today amended Appendix C to the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing and the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing. The Commission has added Hungary and Slovenia to the list of countries or territories whose regulated financial services...

​The Commission is today issuing Instruction Number 01/2015 for Financial Services Businesses and Prescribed Businesses, copies of which can be accessed on the FC&A section of the Commission’s website: Instruction No. 01/2015 for Financial Services Businesses and Instruction No. 01/2015 for Prescribed Businesses

The EU Council has decided to extend the current sanctions regime in view of the situation in Egypt. As a result, the asset freeze and other financial restrictions imposed by Council Regulation (EU) 270/2011, as implemented by the Egypt (Freezing of Funds) (Guernsey) Ordinance, 2011, the Egypt (Freezing of Funds) (Alderney) Ordinance, 2011 and the Egypt (Freezing of Funds) (Sark) Ordinance, 2011...

​Council Regulation (EC) No 881/2002, as implemented by the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, the Al-Qaida (Restrictive Measures) (Alderney) Ordinance, 2013 and the Al-Qaida (Restrictive Measures) (Sark) Ordinance, 2013, has been amended by Council Implementing Regulation (EU) No 2015/480 with effect from 20 March 2015. The Implementing Regulation is available here...

​In 2014, the Commission commenced a review of the two Handbooks which provide the legal and regulatory framework for the financial services businesses and prescribed business sector on measures to address Anti Money Laundering and Combating the Financing of Terrorism. The Commission wanted to adopt a collaborative approach to the review and formed a joint working party with representatives of...

Council Regulation (EU) 269/2014, as implemented by the Ukraine (Restrictive Measures) (Guernsey) Ordinance, 2014, the Ukraine (Restrictive Measures) (Alderney) Ordinance, 2014 and the Ukraine (Restrictive Measures) (Sark) Ordinance, 2014, has been amended by Council Implementing Regulation (EU) No 2015/427. The EU Council has extended the sanctions regime in view of the situation in Ukraine by...

Council Regulation (EU) 204/2011, as implemented by the Libyan (Restrictive Measures) (Guernsey) Ordinance, 2011, the Libyan (Restrictive Measures) (Alderney) Ordinance, 2011 and the Libyan (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Implementing Regulation (EU) No 2015/376. 1 person has been removed from the list of designated persons subject to financial...

The Commission is aware that there has been an increase in the number of attempted, and in some cases successful, frauds on customer bank accounts held with local financial institutions. This has occurred via the use of compromised e-mail accounts or through the "piggy-backing" of e-mails. These fraudulent attempts are being made across a wide range of financial institutions with as yet no...