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Please be advised that four senior security sector officials have been designated under the Zimbabwe (Sanctions) (EU Exit) Regulations 2019; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. These sanctions were enacted for the purposes of encouraging the Government of Zimbabwe to: respect democratic...

The Commission confirms that with effect from Monday 25 January 2021, the vast majority of its staff will be home working. The Commission’s Authorisations team remains open for business. The switchboard will continue to operate during normal office hours and callers will be asked by the receptionist to provide their contact details in order that a member of staff can call or email them back. Firms...

Introduction On the 30th of October 2015 the States of Deliberation approved the Policy Letter submitted by the Policy Council on the Revision of the Financial Supervisory and Regulatory Laws. Representatives of the States of Alderney and the Chief Pleas of Sark has previously indicated their support for the proposals which followed a public consultation process, together with the Law Officers of...

The Commission has today updated Appendix I to the Handbook as a result of the FATF's announcement that it has removed The Bahamas from its list of jurisdictions under increased monitoring. The Bahamas has strengthened the effectiveness of its AML/CFT system and addressed related technical deficiencies to meet the commitments in its action plan and remedy the strategic deficiencies identified by...

UPDATE ON CHANGES RELATING TO BREXIT This Notice follows on from earlier Notices issued in relation to the changes to the implementation of sanctions resulting from Brexit. As previously advised, with effect from 31st December 2020 the UK introduced its own sanctions regimes that repeal and replace EU sanctions regimes, and the Policy & Resources Committee has made the Sanctions (Implementation of...

UPDATE ON CHANGES RELATING TO BREXIT This Notice follows on from an earlier Notice issued in relation to the changes to the implementation of sanctions resulting from Brexit. The UK has now introduced its own sanctions regimes that repeal and replace EU sanctions regimes. The UK completed the drafting of its sanctions regimes earlier this week and they came into force at 11pm on 31st December 2020...

CHANGES RELATING TO BREXIT Please note the following changes to the legal framework for implementing sanctions measures in the Bailiwick as a result of Brexit. These changes come into force at 11pm on 31st December 2020. Overview The Policy & Resources Committee has made the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 (the 2020 regulations). A copy...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 (“the Financial Services Commission Law”). The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (the “Fiduciaries Law”); The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (the “POI Law”); The Insurance Managers and Insurance Intermediaries (Bailiwick of...

On 15 November 2019, the Guernsey Financial Services Commission (“the Commission”) applied to the Royal Court of Guernsey under section 427 of The Companies (Guernsey) Law, 2008 (the “Companies Law”), to seek a disqualification order against Mr Dawson-Ball. On 8 December 2020, the Deputy Bailiff handed down her judgment in which she disqualified Mr Dawson-Ball from: being a director, secretary or...