News

Please be advised that the following person/entity: Alain Francois Viviane GOETZ (Group ID: 16710) has been designated under the Democratic Republic of the Congo (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and is now subject to an asset freeze. The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit...

Please be advised that the following entry has been corrected under the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (the UK regulations): Brian Anthony Sheridan (Group ID: 16705). The person referred to above remains subject to a full asset freeze and will appear on the consolidated list, which can be found here . The UK regulations are given effect within the Bailiwick under the...

The Commission notes that the Court of Appeal handed down a judgment relating to an application for privacy on 4 December 2024. The judgment can be found on the Guernsey Legal Resources website. The Commission will consider making a further statement, if and when appropriate, and in the context of the ongoing appeal process.

The Commission plans to increase licence fees paid by firms from 1 January 2025 by 5.3%. On 11 September 2024, the Commission issued a consultation paper on the fee rates to apply from 1 January 2025 which contained the following proposals: an overall increase in fees of 5.3%; an increase in fees for Retail General Insurers to recognise the additional supervisory effort required to mitigate the...

Please be advised that the Security Council Committee pursuant to Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh) and Al-Qaida have amended the following individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of Security Council resolution 2610 (2021), and adopted under Chapter VII of the Charter of the United Nations...

The Commission has today issued an amended version of its Explanatory Note regarding the surrender of the authorisation or registration of collective investment schemes. The amendments reflect feedback received from industry and practical experience of implementation over the one-year period since the publication of the original Explanatory Note and provide for a more flexible approach to the...

On 12 November 2024, the Royal Court ordered the discharge of the administration order and placed GBG Insurance Limited into liquidation, the purpose of the administration having been achieved. The Joint Liquidators, who were formerly the Joint Administrators, have now issued a communication to potential creditors, which provides further information.

In advance of the publication of the Commission’s fee consultation feedback paper in December, please note that in early January, the Commission will be distributing 2025 annual fee invoices using the generic email address that we hold on record for each licensee and registrant. If you wish to check which email address the Commission holds for your firm, please contact [email protected] quoting...

Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £288.8 billion, a decrease over the quarter of £6.9 billion (-2.4%). Over the past year, total net asset values are almost unchanged with a decrease of £0.1 billon. Closed-ended Schemes Within these totals, Guernsey closed-ended funds decreased over the quarter by £5.2 billion (-2.1%) to £238.8 billion. This...