Investment

​Further to the Commission’s news release of 30 March 2016 concerning the release of Returns 141a and 141b, the Commission advises that these forms remain in development. Until such time as these forms are released to the relevant licensees’ timelines the Commission would remind licensees of the existing Form NST which has been updated into dynamic PDF format and which can be found here. This form...

​ As highlighted in the Commission’s news release of 30 March 2016 following the initial submission of Return 145 for the quarter ended 31 March 2016 many licensees, dependant on their impact rating and main regulated activity, will now only be required to submit the information requested on a Return 145 on an annual basis. Certain licensees, dependant on their impact rating and main regulated...

The Commission today launches a consultation paper (please click here for a copy) on its proposals for increases in the 2017 licence fees paid by firms. The consultation period will close on Wednesday 31 August. An overall blended rate of increase of 2%, including anomalies, is proposed for 2017. Commission Chairman, Cees Schrauwers, said “ This will be the fifth year in succession where the...

​ESMA has today confirmed its positive advice to the EU Commission regarding the extension of the AIFMD passport to Guernsey ( click here ). In its advice ESMA states “that there are no significant obstacles regarding investor protection, competition, market disruption and the monitoring of systemic risk impeding the application of the AIFMD passport to Guernsey.” Guernsey is one of just five...

​ISIL (Da'esh) and Al-Qaida Network Please be advised that the United Nations Security Council has deleted one individual from the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to restrictive measures which include targeted financial sanctions. Further details are available here: http...

Following a short consultation with industry the Commission has today issued revised Annexes to the Financial Services Business ("FSB") and Prescribed Business ("PB") Handbooks on the use of technology in the customer due diligence process. The updates have removed the guidance on the use of online utility bills and clarified further the interplay between the existing rules in the Handbooks and...

Please be advised that the United Nations Security Council has deleted one individual from the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to restrictive measures which include targeted financial sanctions. Further details are available here: http://www.un.org/press/en/2016/sc12433...

​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 Liberia, Cote d'Ivoire and Syria. LIBERIA In recognition of the sustained progress made by the Government of Liberia in rebuilding Liberia for the benefit of all of its citizens in the wake of the civil war in...

HM Treasury has renewed the final designation of one individual under the Terrorist Asset-Freezing etc. Act 2010. The individual therefore remains a Designated Person for the purposes of the Act. Details of the individual are available here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/521530/TAFA_Renewal_Notice_050516v2.pdf HM Treasury has also allowed the designation...