Investment

Second Quarter 2018 Investment Funds The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 30 June 2018 by £13 billion (4.94%) to £276 billion. For the year since 30 June 2017, total net asset values increased by £5 billion (1.9%). Open-ended Funds Within these totals, Guernsey domiciled open-ended funds increased by £1.4...

The Commission is today issuing Instruction Number 02/2018 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 01/2018 issued on 16 March 2018. Changes to Instruction No. 02/2018 include the removal of Iraq and Vanuatu and the addition of Pakistan. Further details in respect of these changes can be found within Part B of the Instructions. The Commission has also...

Introduction On 30 October 2015, the States of Deliberation approved the Policy Letter submitted by the Policy Council on the Revision of the Financial Supervisory and Regulatory Laws. Representatives of the States of Alderney and the Chief Pleas of Sark had previously indicated their support for the proposals which followed a public consultation process. The Law Officers of the Crown together...

The Guernsey Green Fund Rules The Commission is pleased to announce the publication of the Guernsey Green Fund Rules following the closing of the consultation on 1 June 2018. The Rules create a new description of a scheme known as a Guernsey Green Fund that has the objective of seeking a return for investors whilst mitigating environmental damage. The rationale for developing the Green Fund Rules...

The Investment Supervision and Policy Division has concluded its consultation and has now issued the Prospectus Rules 2018 ( here) and the Registered Collective Investment Scheme Rules 2018. ( here) Both Rules will be effective from 6 October 2018. Implementation may be achieved through the earlier of: a fund initiating an annual review at an appropriate time to identify the changes required to...

First Quarter 2018 Investment Funds The net asset value of total funds under management and administration has decreased in Sterling terms over the quarter ended 31 March 2018 by £7 billion (-2.9%) to £263 billion. For the year since 31 March 2017, total net asset values decreased by £5 billion (-1.5%). Open-ended Funds Within these totals Guernsey domiciled open-ended funds decreased by £1.67...

The Commission is pleased to release a consultation paper on the development of a Guernsey Green Fund. Closing date is 1 June 2018. A copy of the consultation paper and the draft rules can be found here: [Consultation Paper] [Rules] The Commission would be grateful for any representations and would draw your attention to the list of questions on page 15 of the consultation paper. I would like to...

Consultation on Code of Market Conduct. The Commission is pleased to release the draft Code of Market Conduct (“the Code”) for consultation. (see here) Closing date is 12 June 2018. The Commission would be grateful for any representations but, in particular, would like comment on the following subjects: 1. Do you agree with the structure of the Code? i.e. a hierarchy: a. Section 2 – Descriptions...

Two-factor authentication (“2FA”) functionality is now available on the Online Submissions Portal. This is in line with the Commission’s commitment to continually improving the security of licensee data. If your organisation promotes the use of 2FA, then please ensure that your portal users opt in to use the functionality. A guide with instructions is available here.