Insurance

The Commission is today issuing Instruction Number 07/2014 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. 07/2014 for Financial Services Businesses and Instruction No. 07/2014 for Prescribed Businesses 18 December 2014

​Please be advised that there has been an amendment to the sanctions regime in relation to Syria. Measures which should be taken as a result are set out at the end of this notice. SYRIA Council Regulation (EU) 36/2002, as implemented by the Syria (Restrictive Measures) (Guernsey) Ordinance, 2012, the Syria (Restrictive Measures) (Alderney) Ordinance, 2012 and the Syria (Restrictive Measures) (Sark...

​Please be advised that there have been a number of developments in relation to the Bailiwick’s sanctions regime in relation to the Ukraine, the Central African Republic and the Russian Federation, which are set out below. Measures which should be taken as a result are set out at the end of this notice. UKRAINE Council Regulation (EU) 269/2014, as implemented by the Territorial Integrity etc. of...

Please be advised that there have been a number of developments in relation to the Bailiwick’s sanctions regime, which are set out below. These developments concern sanctions relating to the Al-Qaida network and terrorist asset freezing measures. Measures which should be taken as a result are set out at the end of this notice. AL–QAIDA NETWORK Council Regulation (EC) No 881/2002 of 27 May 2002, as...

The Commission is today issuing Instruction Number 06/2014 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 02/2014 issued on 9 July 2014. Libya has been removed from Part C which is the list of countries and territories of concern to the Commission. This means that financial services businesses and prescribed businesses may apply a risk based approach to...

Please be advised of the following change to sanctions listings related to Iran and to terrorist financing, which have immediate effect in the Bailiwick. Measures which should be taken as a result are set out at the end of this notice. IRAN On 3 July 2014 the General Court of the European Union annulled the decision to include certain individuals and entities on the list of persons and entities...

​ Background During July 2014 the Commission released its second consultation on the proposed revisions to the regulatory regime on the implementation of the new Guernsey Financial Advice Standards (“GFAS”). The implementation of GFAS will increase professional standards, make adviser charging more transparent and reduce potential conflicts of interest. In turn this will contribute to the...

​Please be advised that there have been a number of developments in relation to the Bailiwick’s sanctions regime, which are set out below. These developments concern sanctions relating to the Al-Qaida network, Belarus, the Federal Republic of Yugoslavia and Serbia, and the Russian Federation. Measures which should be taken as a result are set out at the end of this notice. AL–QAIDA NETWORK Council...

Please be advised of changes to sanctions listings related to Libya, Somalia and Syria which have automatic and immediate effect in the Bailiwick. Measures which should be taken as a result are set out at the end of this notice. LIBYA Council Regulation (EU) No. 204/2011 of 2 March 2011, as implemented in the Bailiwick by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2011, the Libya...