News

The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (“the Enforcement Powers Law”) The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (“the Regulations”) The...

Further to our news article dated 1 December (click here), the Commission wishes to advise that it will not accept Surrenders and Suspensions from licensees and registrants on Christmas Eve or New Year's Eve without prior arrangement.

Please be advised that there has been a change to the Burundi sanctions regime. The Policy and Resources Committee has made the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) (Amendment - Burundi) Regulations, 2021, which are now in force and can be found here . These Regulations amend the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit)...

Please be advised that an individual has been designated under the Global Human Rights Sanctions Regulations 2020 ; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. Furqan Bangalzai is subject to an asset freeze and will appear on the consolidated list, which can be found here . MEASURES WHICH SHOULD BE TAKEN...

Please be advised that four entities have been designated under the Myanmar (Sanctions) Regulations 2021 (the UK regulations); The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law). The following...

The Guernsey Financial Services Commission has issued today two consultation papers on professional indemnity insurance (“PII”), one addressing the Fiduciary and Investment sectors and the other relevant for Insurance Managers and Insurance Intermediaries. Following a process of data collection, engagement with industry participants and policy review, a number of proposals are made to amend the...

Please be advised that eight people and one company have been designated under the Belarus (Sanctions) (EU Exit) Regulations 2019 (the UK regulations); The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions...

Ahead of distributing 2022 annual fees, licensees and registrants who wish to surrender or suspend their licence (or one that they administer) must notify the Commission in good time ahead of the New Year. If the Commission does not give consent to a surrender or a suspension based on the notification requirements set out in the regulations, then licensees or registrants may be liable to pay their...

Please be advised that Emraan Ali has been designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulations); The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions...