Online Applications and Authorisation Portal goes live with Beta launch

Following five months of industry testing, the Guernsey Financial Services Commission is delighted to announce the Beta release of its new online Applications and Authorisations Portal.

The new portal, also known as the A&A Portal, will streamline the applications and authorisations process through a secure, online platform, making it significantly easier for people to start financial services businesses in the Bailiwick.

The Commission’s Director General, William Mason, said: “We are committed to using technology that increases efficiency and effectiveness, enhances ease of use, and ensures the Bailiwick is appropriately positioned internationally as an attractive hub for business. The new Applications and Authorisations Portal will do just this.

“It’s been designed for and with industry engagement from the outset, and I would like to thank all of those industry associations and individuals who have contributed to its development and provided feedback, input and challenge.”  

The new portal will streamline the application process with guardrails and conditionality ensuring quality and completeness of applications, and support online collaboration and communication throughout the process, both between parties drafting an application prior to submission, and with the Commission post-submission

Several types of investment, insurance and fiduciary applications can now be completed and submitted to the Commission through the A&A Portal, including the standard and fast track investment licenses, insurance business license, and fiduciary discretionary exemption, with further application types being added over the coming months. 

Co-Director of Authorisations and Innovation, Alison Gavey, said: “While the process for applications and authorisations will change, the Commission’s well understood risk-based approach to assessing applications will remain. Our staff continue to be at the end of the telephone for any enquiries, and we are happy to talk to those who want to discuss innovative structures or prospective applications. We value the early contact we have with applicants as it enables us to understand the business and to provide a steer as to what we will be looking for in an application or any requirements the firm might need to meet”.

“We welcome feedback on the new A&A Portal and look forward to continue to enhance it as we bring more application types on board during this year.”

The A&A Portal is accessible via the Commission’s Online Services page, alongside the Online Submissions (OS), Personal Questionnaire (PQ) and Director Registration Regime (DRR) portals. Anyone will be able to register on the new portal and submit an application – you do not need to be an existing licensee or a current user of the Commission’s portals.