News

​ The Commission has published a revised version of Appendix C of the Guidance Notes on the Prevention of Money Laundering and Countering the Financing of Terrorism. Guernsey Financial Services Commission January 2004

​Joint Launch of Leaflet - Fighting Crime and Terrorism: You Can Help The Association of Guernsey Banks, in conjunction with the Guernsey Financial Services Commission, the States of Guernsey and the Financial Intelligence Service have issued a new leaflet called "FIGHTING CRIME & TERRORISM: YOU CAN HELP" (PDF format 535Kb available here ). This leaflet will be issued to customers of local banks...

18 December 2003 The Commission is issuing this statement on introduced business, in order to provide financial services businesses with a clear statement of the standard which it will adopt in the revised Guidance Notes on the Prevention of Money Laundering and Countering the Financing of Terrorism, following the introduction on 20 June 2003 of the revised Forty Recommendations by the Financial...

In November 2003 the International Monetary Fund (IMF) issued a report on its evaluation of Guernsey’s financial regulation and law enforcement standards. This assessment was part of its programme of assessments of the regulatory standards of all financial centres. The IMF concluded that Guernsey has ‘a high level of compliance’ with each of the international standards against which the Bailiwick...

​Guernsey Secures Independent, International Commendation for Regulatory and Law Enforcement Standards Press Release 25 November 2003 Guernsey's financial regulation and law enforcement standards are commended in a report published today by the International Monetary Fund (IMF). Guernsey has been assessed by the IMF to have 'a high level of compliance' for each of the international standards...

It has come to the Commission's attention that a number of residents of the Bailiwick have received unsolicited calls from representatives of Amherst International. The Commission would refer residents to its previous notices on the subject of cold calling on 1 June 2002, 24 July 2003 and 10 September 2003(all of which can be viewed on this website). Firms wishing to conduct investment business...

It has come to the Commission's attention that a number of residents of the Bailiwick have received unsolicited calls from representatives of the Sukumo Group. The Commission would refer residents to its previous notices on the subject of cold calling on 1 June 2002 and 24 July 2003 (both of which can be viewed on this website). Firms wishing to conduct investment business within the Bailiwick...

The Commission has had a new twist to an investment scam brought to its attention and wishes to warn local investors about it. Over the past few years a number of local residents have been "cold called" by brokers from outside the Island attempting to get people to invest in shares in small overseas companies. The general pattern has been for the value of these thinly traded shares to dwindle and...

MEMORANDUM FILE REF: B52 TO: Managing Directors and Branch Managers of Guernsey Banks I enclose for your attention a copy of the Basel Committee on Banking Supervision's paper entitled "Principles for the Management of Credit Risk." It can be obtained in electronic format (PDF) from the Committee's website at http://www.bis.org/publ/bcbs75.pdf Management of Credit Risk Although this paper was...