News

The Policy Council have signed the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) (Amendment) Regulations, 2009. The main change to the 2008 regulations created by the amendment regulations is a requirement that senior management sign off is needed for all new high risk relationships and not only for new PEP relationships. The...

​Business from Sensitive Sources Notice 9 for financial services businesses and Notice 4 for prescribed businesses

​ Business from Sensitive Sources Notice 8 for financial services businesses and Notice 3 for prescribed businesses

The Commission has noted the coverage in the Guardian of 4 March 2009 under the heading “Chelsea connection” about investigations by the Financial Services Authority and the Guernsey Financial Services Commission around 2003, including Mr Patrick Murrin’s comments on the circumstances of his departure from Harbour Trustees Limited. The Commission repeats the statement it made on this subject in...

​Total deposits held with Guernsey banks at the end of December 2008 increased in sterling terms by £20.7 billion* from the end of September 2008 level of £136.3 billion to reach a new highest figure of £157.0 billion*, representing a 15.2%* increase over the quarter and 31.8%* over the year. Total assets and liabilities increased by £26.9 billion* over the quarter representing a 17.7%* increase...

The Commission has written to the managing directors of all Financial Services Businesses today, seeking comments on the tracked changes to the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 and the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing.A copy of the proposed amendments to the...

The Commission has written to the managing partners of firms of lawyers and accountants and the managing directors of estate agents today, seeking comments on the tracked changes to the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) Regulations, 2008 and the Handbook for Legal Professionals, Accountants and Estate Agents on...

​Business from Sensitive Sources Notice 7 for financial services businesses and Notice 2 for prescribed businesses

The States of Guernsey Health and Social Services Department has confirmed that the current Reciprocal Health Agreement between the Channel Islands and the UK is to cease with effect from 31 March 2009. The practical effect of the cessation of the agreement is that most Channel Island residents will no longer be able to access the NHS free of charge when in the UK, other than for treatment given...