Under The Regulation of Fiduciaries (Fiduciary Advertisements and Annual Returns) Regulations, 2001 persons holding a fiduciary licence are required to complete an annual return each year. An Annual Return covers the period from 1 July to 30 June. There are separate forms for the holders of personal fiduciary licences and full fiduciary licences and the current forms can be found below:
The Commission will publish the fact that the latest Annual Return forms are available as a News item on its website in June each year.
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 which is not filed by 31 July each year.
As announced on 9 June the Commission would now like to collect data on assets under trusteeship. In future years this information will be collected as part of the Annual Return. However, in order to give licensees more time to collate the data, the Commission has decided this year to obtain information separately from the Annual Return. The Assets Under Trusteeship form will therefore need to be completed by all licensed fiduciaries and received by the Commission no later than 30 September 2011. There is one form for holders of a fiduciary licence and it is available below.
The Commission has been working closely with the Guernsey Association of Trustees to prepare a Guidance Note to enable licensees to provide data on Assets under Trusteeship. This is available by clicking on the link on the right hand side of the page. The main aim is to collate data which will enable the Commission to understand the sector more fully without placing an undue burden on licensees.