Non Regulated FSBs

Non-Regulated Financial Services Businesses

 
 
 
The law creates a public register of non-regulated financial services businesses.  Applications for registration must be made to the Commission, which will maintain the register on its website.  The law states that, except in circumstances where the Commission has notice of any grounds upon which it could refuse an application for, or revoke, registration of a financial services business, the Commission has no obligation to make any enquiries concerning an application for registration or the continued registration of any non-regulated financial services business.
 
The law is part of the Bailiwick's anti-money laundering (AML) and combating the financing of terrorism (CFT) framework.  The framework, including the registration, has no effect on the conduct of business of a registered business except for the carrying out of AML/CFT measures.
 
The law and the public registration framework it contains replaced the notification provisions of regulation 16 of the Criminal Justice (Proceeds of Crime) (Financial Services Business) (Bailiwick of Guernsey) Regulations, 2007 in which non-regulated financial services businesses were required to provide basic information to the Commission.  The notification framework first appeared in the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Regulations, 2002 which preceded the 2007 proceeds of crime regulations.
 
On 22 February 2010 the Policy Council signed the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008 (Schedule 1 Amendment) Regulations, 2010. The changes to this law came into effect on 31 March 2010 and extended the list of financial services businesses.

 

Type of financial services business carried out

  1. Lending (including, without limitation, the provision of consumer credit or mortgage credit, factoring with or without recourse, financing of commercial transactions (including forfeiting) and advancing loans against cheques).

  2. Financial leasing.

  3. Operating a money service business (including, without limitation, a business providing money or value transmission services, currency exchange (bureau de change) and cheque cashing).

  4. Facilitating or transmitting money or value through an informal money or value transfer system or network.

  5. Issuing, redeeming, managing or administering means of payment, means of payment includes, without limitation, credit, charge and debit cards, cheques, travellers' cheques, money orders and bankers' drafts and electronic money.

  6. Providing financial guarantees or commitments.

  7. Trading (by way of spot, forward, swaps, futures, options, etc.) in -

    1. money market instruments (including, without limitation, cheques, bills and certificates of deposit)

    2. foreign exchange, exchange, interest rate or index instruments, and

    3. commodity futures, transferable securities or other negotiable instruments or financial assets.

  8. Participating in securities issues and the provision of financial services related to such issues, including, without limitation, underwriting or placement as agent (whether publicly or privately).           

  9. Providing settlement or clearing services for financial assets including, without limitation, securities, derivative products or other negotiable instruments.

  10. Providing advice to undertakings on capital structure, industrial strategy or related questions, on mergers or the purchase of undertakings except where the advice is provided in the course of carrying on the business of a lawyer or accountant.

  11. Money broking.

  12. Money changing

  13. Providing individual or collective portfolio management services or advice.

  14. Providing safe custody services.

  15. Providing services for the safekeeping or administration of cash or liquid securities on behalf of clients.

  16. Carrying on the business of a credit union.

  17. Accepting repayable funds other than deposits.

  18. Otherwise investing, administering or managing funds or money on behalf of other persons.

  19. Buying, selling or arranging the buying or selling of, or otherwise dealing in, bullion or buying or selling postage stamps. 

 

The following entities are registered with the Commission:

 

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20106261st Central Finance LtdNon-Regulated Financial Services Businesses
1028457A & L CF (Guernsey) LimitedNon-Regulated Financial Services Businesses
2004969AE LimitedNon-Regulated Financial Services Businesses
1048888Albert House Property Finance PCC LimitedNon-Regulated Financial Services Businesses
29182BDO LimitedNon-Regulated Financial Services Businesses
1007033Black Horse Offshore LimitedNon-Regulated Financial Services Businesses
1035177Blenheim Capital Partners LtdNon-Regulated Financial Services Businesses
2021830Bullion Services LimitedNon-Regulated Financial Services Businesses
2010308Calunius Funding Investments (1) LimitedNon-Regulated Financial Services Businesses
2022887Calunius Funding Investments (2) LimitedNon-Regulated Financial Services Businesses
123382Channel Islands' Co-operative Society Limited, TheNon-Regulated Financial Services Businesses
8659Cherry Finance Company LimitedNon-Regulated Financial Services Businesses
68307Cherry Godfrey Finance LimitedNon-Regulated Financial Services Businesses
1011437Close Finance (CI) LimitedNon-Regulated Financial Services Businesses
69097Credit Suisse Finance (Guernsey) LtdNon-Regulated Financial Services Businesses
1010787Credit Suisse Group Finance (Guernsey) LimitedNon-Regulated Financial Services Businesses
1037075Deloitte LLP - Guernsey BranchNon-Regulated Financial Services Businesses
2014111Dignity Film Finance LimitedNon-Regulated Financial Services Businesses
2014104Dignity Investment Agency LimitedNon-Regulated Financial Services Businesses
1000617Ernst & Young LLPNon-Regulated Financial Services Businesses
2006571Facility Finance Limited (also trading as Loans Guernsey Ltd)Non-Regulated Financial Services Businesses
2022886Frentorn LimitedNon-Regulated Financial Services Businesses
2014736Future Loans LimitedNon-Regulated Financial Services Businesses
2004023Green Stone IC LimitedNon-Regulated Financial Services Businesses
2017727Gretton LimitedNon-Regulated Financial Services Businesses
2005238Guernsey Gold LimitedNon-Regulated Financial Services Businesses
1022782Guernsey Home Loans LimitedNon-Regulated Financial Services Businesses
2004915Guernsey Home Loans Limited (UK)Non-Regulated Financial Services Businesses
1051401Guernsey Mint Bullion Company LimitedNon-Regulated Financial Services Businesses
2025707Guernsey Mint Refined LimitedNon-Regulated Financial Services Businesses
1002998Guernsey Post LimitedNon-Regulated Financial Services Businesses
2017825Havelet Finance LimitedNon-Regulated Financial Services Businesses
1034192Havelet Properties PCC LimitedNon-Regulated Financial Services Businesses
2023854Hocq Holdings Limited (trading as Contributor)Non-Regulated Financial Services Businesses
1020349KPMG Channel Islands LimitedNon-Regulated Financial Services Businesses
2023515Lista Capital LimitedNon-Regulated Financial Services Businesses
68207Lombard Finance (CI) LtdNon-Regulated Financial Services Businesses
1045640Marlborough International Escrow Services LimitedNon-Regulated Financial Services Businesses
45321N. St. J. Paint & Son LimitedNon-Regulated Financial Services Businesses
1048793Network Securities LimitedNon-Regulated Financial Services Businesses
2019299Omni Capital Loans (Guernsey) LimitedNon-Regulated Financial Services Businesses
2007609Oracle Loans and Mortgage Brokers Limited (Trading as Oracle Finance and Oracle Loans)Non-Regulated Financial Services Businesses
2007011Osgood's LimitedNon-Regulated Financial Services Businesses
2025321Pacific Finance LimitedNon-Regulated Financial Services Businesses
1047458Partners Group Finance CHF IC LimitedNon-Regulated Financial Services Businesses
34283PerkinsNon-Regulated Financial Services Businesses
1045835Perpetual Film Capital LimitedNon-Regulated Financial Services Businesses
1045834Perpetual Media Capital LimitedNon-Regulated Financial Services Businesses
28189Premium Payment Facilities LtdNon-Regulated Financial Services Businesses
54390Rudyerd Asset Management LimitedNon-Regulated Financial Services Businesses
7503Sarnia Mutual Limited (also trading as The Loan Shop, ABC Loans, SOS, SOS.gg and SOS.je)Non-Regulated Financial Services Businesses
1048687Schneider Foreign Exchange LimitedNon-Regulated Financial Services Businesses
1028831Scion Film Financing (Guernsey) LimitedNon-Regulated Financial Services Businesses
2007953Shearwater PCC LtdNon-Regulated Financial Services Businesses
2007100Solebay Property Finance PCC LtdNon-Regulated Financial Services Businesses
2007010St Catherines Holdings PCC LimitedNon-Regulated Financial Services Businesses
1022300Stanley Gibbons (Guernsey) LimitedNon-Regulated Financial Services Businesses
1046273Storrier Trading LimitedNon-Regulated Financial Services Businesses
1002122Thomas Cook Travel LimitedNon-Regulated Financial Services Businesses
2006819TradeRiver Finance LimitedNon-Regulated Financial Services Businesses
2024511UbiCap Treasury Management LimitedNon-Regulated Financial Services Businesses
2005201Vale Property Finance PCC LtdNon-Regulated Financial Services Businesses
2006250Vallette Holdings LimitedNon-Regulated Financial Services Businesses
Guernsey Financial Services Commission