News

​ 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...

The Policy Council has signed the following amendment regulations, which came into force today: The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (Amendment of Schedules 1 and 2) Regulations, 2013 The Criminal Justice (Proceeds of Crime) (Legal...

​ The Guernsey Financial Services Commission is pleased to announce that William Mason will be appointed the Director General upon Nik van Leuven’s retirement. William Mason will join the Commission from the position of Head of Risk at the Central Bank of Ireland, where he has led the development and implementation of its PRISM supervisory methodology. Most recently he has been working with the...

A copy of the presentations from the conference on Guernsey foundations can be accessed by clicking here .

​On 4 March the Commission issued: Instruction (Number 18) for Financial Services Businesses and Instruction (Number 16) for Prescribed Businesses For other Instructions and repealed Business from Sensitive Sources, see Instructions page on this website.

On 27 February 2013 the States of Guernsey approved the Control of Borrowing (Repeal) (Bailiwick of Guernsey) Ordinance, 2013. This Ordinance repeals the remaining provisions of the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959. Accordingly, requests for consent under the 1959 Ordinance are no longer necessary and should not be made to the Commission.

The Commission has issued a letter to all Money Laundering Reporting Officers today regarding fraud warning versus southern Africa customers and Far East/China banks. More information can be found here .

​The Commission has noticed that in recent years there has been an increasing number of occurrences of fraud being committed against customers of Guernsey licensees where the customer is based in southern Africa. Post, and possibly emails, from licensees are being intercepted and details then being used by fraudsters. It has also been noted that fraudsters have increasingly directed the licensees...