All licensees are subject to ongoing supervision by the Commission’s fiduciary services team. This includes:
onsite inspections at the licensee’s place of business
annual statistical returns
the submission of audited financial statements by full fiduciary licensees. These should be submitted by email to: firstname.lastname@example.org.
In the case of full fiduciary licensees, notification to the Commission of individuals who act as controllers, directors, partners or managers of the licensee’s business
notification of significant events or changes within the business, and
participation in thematic studies by the Commission, for example involving measures for countering financial crime and the financing of terrorism or themes specific to the fiduciary sector.
Persons holding a fiduciary licence are reminded that, under The Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010, an administrative financial penalty will be payable in respect of any annual return or audited financial statements which are filed late.
The GTA University Centre, in consultation with the Commission and finance industry professional and educational bodies, publishes a training matrix for each sector. The Fiduciary Qualification Matrix is available by following the link to the GTA University Centre website.