News

​The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (“the Financial Services Commission Law”)The Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended (the “POI Law”), The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc, (Bailiwick of Guernsey) Law, 2000, as amended (the “Fiduciaries Law”), The Insurance Managers and...

As part of the Commission's regularly scheduled server maintenance, both the Online Submissions Portal and PQ Portal will be unavailable on 30 July 2016. If you have any queries around accessing the Online Submissions Portal or the PQ Portal, please contact the Online Services Help Desk - [email protected]

ISIL (DA’ESH) AND AL-QAIDA NETWORK This Notice is issued further to a previous Sanctions Notice issued in relation to the removal of one individual from the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that a corresponding change has now been made to the list maintained by the European Union under...

​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...

Following the implementation of the Guernsey Financial Advice Standards, forms GFA and RA/1 have now been updated to reflect these requirements. In addition, amendments have also been made to the addresses used in the forms and to the details required in respect of financial information under Section F of the Form RA/1.

​ 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...

​Following last year’s successful one-day seminar for intermediaries on conduct of business, the Commission recently held an interactive seminar which was attended by approximately 85 representatives from insurance intermediaries, insurance companies, insurance managers and retail banks. In selecting the topic for this year’s seminar, the Commission recognised that significant changes will be...