News

The Guernsey Financial Services Commission has today published its 2024 Annual Report and Financial Statements. In the report, the Commission discusses: its preparations for, and the positive outcome of, the Bailiwick’s MONEYVAL inspection and what this means for supervision; its continued development of digital technology to enhance performance and streamline processes for industry, including its...

Following consultation with industry earlier this year, the Guernsey Financial Services Commission is announcing updates to the Prospectus Rules. The updated Prospectus Rules, 2025, which will come into effect on 1 July 2025, aim to provide enhanced clarity and to standardise some requirements to ensure that the Bailiwick’s investment and funds proposition is as accessible and as simple to use as...

The Guernsey Financial Services Commission is open to innovation and is committed to creating an enabling environment where good business can grow. The Commission recognises that crypto has been evolving, and some crypto currencies, such as Bitcoin, appear to be entering a more mature period. Guernsey, as a long standing and experienced funds centre, considers that collective investment schemes...

The Bailiwick of Guernsey has achieved a good result in a recent International Association of Insurance Supervisors (“IAIS”) peer review process (“PRP”) focused on how insurers manage risk relating to solvency. This result confirms the earlier findings of the IAIS Member Assessment Programme published in 2019 . The objective of the IAIS PRP is a point-in-time assessment to deepen awareness of the...

Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £278.6 billion, a decrease over the quarter of £11.5 billion (-3.9%). Over the past year, total net asset values have decreased by £13.9 billion (-4.7%). Closed-ended Schemes Within these totals, Guernsey closed-ended funds decreased over the quarter by £5.5 billion (-2.3%) to just under £232.8 billion. This...

Please be advised that details in respect of the following individuals/entities, which have been designated under The Russia (Sanctions) (EU Exit) Regulations 2019 , have been amended: Igor Borisovich BYSTROV (Unique ID: RUS2626) SHANGHAI NEW CHESS INT'L LOGISTICS CO., LTD. (Unique ID: RUS2617) SHANGHAI NEW CHESS CO., LTD. (Unique ID: RUS2618) MT-SYSTEMS LLC (Unique ID: RUS2620) ATOMA LLC (Unique...

Please be advised that details in respect of the following individual, who has been designated under The Russia (Sanctions) (EU Exit) Regulations 2019 , have been amended: Michel LITVAK (UNIQUE ID: RUS2410) The above individual is still subject to an asset freeze and trust services sanctions. The individual referred to above appears on the UK’s consolidated list, which can be found here . The UK...

Please be advised that the following person, previously designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulations), has been removed from the consolidated list and is no longer subject to an asset freeze : LIONEL DUMONT (Group ID: AQD0217) The consolidated list has been updated and can be found here . The UK regulations are given effect within the...

Please be advised that amendments have been made to the details of the following persons/entities which are designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) – AL-ZAWAHIRI AIMAN MUHAMMED RABI (Unique ID: AQD0126) ASHOUR AL-FADHLI Mushin Fadhil Ayed (Unique ID: AQD0265) ABDEL RAHMAN ABD ALLAH MOHAMED RAGAB (Unique ID: AQD0090) AHMED ZAKI...