News

Investment

Instruction (Number 02/2014) for Financial Services Businesses and Prescribed Businesses

9th July 2014
The Commission is today issuing Instruction (Number 02/2014) for Financial Services Businesses and Prescribed Businesses, copies of which can be accessed on the FC&A Section of the Commission's website. The log of Business from Sensitive Sources & Notices document has been updated to enable identification of the changes applied. Instruction (Number 02/2014) for Financial Services Businesses...

FIRST QUARTER 2014 - INVESTMENT SECTOR STATISTICS

24th June 2014
​ Investment Funds The net asset value of total funds under management and administration has decreased in Sterling terms over the quarter ended 31 March 2014 by £1.8billion (-0.6%) to £264.2 billion. For the year since 31 March 2013, total net asset values decreased by £32.3billion (-10.9%) . Within these totals Guernsey domiciled open-ended funds increased by £0.9billion (2.2%) over the quarter...

Instruction No. M 01/2014 for Financial Services Businesses and Instruction No. M 01/2014 for Prescribed Businesses

3rd June 2014
​The Commission is today issuing Instruction Number M 01/2014 for Financial Services Businesses and Instruction Number M 01/2014 for Prescribed Businesses, copies of which can be accessed from the FC&A section of the Commission's website: Instruction M 01/2014 for Financial Services Businesses and Instruction M 01/2014 for Prescribed Businesses 3 June 2014

Implementation of Guernsey Financial Advice Standards ("GFAS")

14th May 2014
​ Following a request by the Commerce and Employment Department (“C&E”) the Commission released a consultation paper last September on the steps required to implement the new Guernsey Financial Advice Standards (“GFAS”). C&E had identified that the introduction of GFAS would protect and enhance Guernsey’s reputation as a leading International Financial Centre, provide better value service from...

Life Settlements Funds

7th February 2014
The Commission notes ongoing public comment about EEA Life Settlements Fund PCC Limited (“the fund”), an authorised open-ended collective investment scheme regulated by the Commission. The Commission is aware that the fund was sold by intermediaries to retail investors. If the intermediary is not domiciled in Guernsey, investors may wish to contact the regulator in the intermediary’s jurisdiction...

New Fast Track Application Process for Investment Compartments of Existing Registered Collective Investment Schemes and Qualifying Investor Funds

19th December 2013
​ For a number of years the Commission has been in a position to fast track the authorisation of Qualifying Investor Funds (“QIFs”) and the registration of Registered Collective Investment Schemes by placing reliance on the warranties provided by designated managers. The Commission considers that a similar approach can be taken in respect of the approval of investment compartments (i.e. sub-funds...

The AIFMD Rules, 2013

2nd December 2013
​ Background During September 2013 the Commission released the second part of the two planned consultations to facilitate the requirements of the European Union’s Alternative Investment Fund Managers (“the Directive or "AIFMD”) into the local regulatory regime, so as to enable regulated entities flexibility in their product strategy with respect to fund management and marketing business within the...

The Authorised Collective Investment Schemes (Class B) Rules, 2013 - Derogations

5th November 2013
​ The Commission has received enquiries regarding the application of derogations granted under The Collective Investment Schemes (Class B) Rules 1990 (“Class B Rules 1990”). The Commission proposes that the same approach be taken as that used in respect of derogations of The Licensees (Conduct of Business) Rules, 2009 and the Licensees (Capital Adequacy) Rules, 2010. Therefore, the Commission...