Investment

​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...

​Please be advised of the following changes to sanctions listings related to the Al-Qaida network which have immediate effect in the Bailiwick. Further to the Sanctions Notice issued on 24th September 2014 about United Nations listings for 14 individuals and 2 entities associated with extremist groups in Iraq and Syria, these individuals and entities have now been added to the list maintained by...

The Commission is today issuing Instruction Number 05/2014 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. 05/2014 for Financial Services Businesses and Instruction No. 05/2014 for Prescribed Businesses 7 October 2014

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended ("The Financial Services Commission Law"), The Channel Islands Stock Exchange, LBG. 1. The Guernsey Financial Services Commission (the “Commission”) is established pursuant to the terms of the Financial Services Commission (Bailiwick of Guernsey) Law, 1987 and its functions include the supervision of financial services...

​The regulatory laws provide that a licence or registration application shall contain or be accompanied by such other information or documents as the Commission may reasonably require, for the purpose of determining the application. Business Risk Assessments (“BRAs”) The Financial Action Task Force (“FATF”) 2012 Recommendations (“the Recommendations”) place even greater emphasis on the importance...

​The Commission is today issuing Instruction (Number 04/2014) for both financial services businesses and prescribed businesses. The instruction has been issued as a result of amendments made to the legislation surrounding the reporting of suspicion. The existing Handbooks are in the course of being reviewed and therefore to minimise the impact, and to avoid reprinting the full Handbook while the...

​ What are the reporting requirements under The AIFMD Rules, 2013? Guernsey Depositaries, Non-Financial Asset AIF Depositaries and Guernsey AIFMs which have opted in to comply with The AIFMD Rules, 2013 are required to submit reports to the Commission. The various reporting requirements are set out in The AIFMD Rules, 2013 in Section 17 – Depositary and Section 19 - Reporting obligations to the...

​The Commission is today issuing Instruction 03/2014 for both financial services businesses and prescribed businesses. The instruction has been issued as a result of amendments made to the sanctions measures against Afghanistan and Al-Qaida to impose a reporting requirement on businesses. The existing Handbooks are in the course of being reviewed and therefore to minimise the impact, and to avoid...