Investment

The Guernsey Financial Services Commission (“the Commission”), with the assistance of a Working Party of practitioners from the investment business sector, has been preparing new Class B Rules for open-ended collective investment schemes authorised as Class B funds under section 8 of the Protection of Investors (Bailiwick of Guernsey) Law, 1987 as amended (“the Law”). The Class B Rules are...

​ Following an application made under the above-named regulations, the Commission has granted recognition to Euroclear UK & Ireland Limited as an overseas operator with effect from 30 August 2013. The Uncertificated Securities (Guernsey) Regulations, 2009 (“the Regulations”) came into operation on 30 November 2009. The general purpose of the Regulations is to confirm how title to units of a...

The Commission would remind all companies which hold a licence from the Commission, issued after 31 July 2012 under the regulatory laws or which are registered or authorised as collective investment schemes (“funds”) under 1. below that an assurance statement under the Finance Sector Code of Corporate Governance ("the Code") must be submitted to the Commission on the first anniversary of the date...

Following the European Securities and Markets Authority’s (ESMA) approval of the co-operation arrangements the Guernsey Financial Services Commission (GFSC) has signed 27 bi-lateral co-operation agreements with the following EU/EEA securities regulators for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds: EU/EEA Authority Autoriteit...

On 27 June the Commission issued: Instruction (Number 19) for Financial Services Businesses and Instruction (Number 17) for Prescribed Businesses For other Instructions and repealed Business from Sensitive Sources, see Instructions page on this website.

​The European Securities and Markets Authority (ESMA) has approved the co-operation arrangements between the Guernsey Financial Services Commission (GFSC) and the EU securities regulators for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds. ESMA has negotiated the agreement with the GFSC on behalf of all 27 EU Member State securities...

Further to the news item posted on the Commission's website on 10 April, the Policy Council has made the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) (No 2) Regulations, 2013 and the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) (Amendment) (No 2) Regulations, 2013. These...

​ The Commission has undertaken a review of the forms required for fast track fund applications in respect of Non-Guernsey Schemes, Qualifying Investor Funds and Registered Collective Investment Schemes. The Commission has amended the application forms to ensure that the information requested is consistent where applicable. Furthermore, the Commission has inserted additional questions in areas...

The Commission has noted that the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 have resulted in an inaccurate cross-reference in regulation 5(1)(d) of the regulations being amended. In regulation 5(1)(d) the reference to regulation 3(1)(c) should now be to regulation 3(2)(a). The making of the Criminal Justice (Proceeds...