The Finance Sector Code of Corporate Governance (“the Code”), issued in September 2011 with an effective date of 1 January 2012, stated the GFSC will require an assurance statement from companies...

The Commission has produced the revised rules and is currently seeking written feedback from Investment licensees on these revised rules. ...

Draft Outsourcing Risk Guidance Note for Banks is available here:...

Total deposits held with Guernsey banks at the end of December 2009 decreased in sterling terms by £2.8 billion...

Total deposits held with Guernsey banks at the end of September 2009 decreased in sterling terms by £4.4 billion ...

Total deposits held with Guernsey banks at the end of June 2009 decreased in sterling terms by £18.3 billion ...

Total deposits held with Guernsey banks at the end of March 2009 decreased in sterling terms by £14.1 billion ...

Total deposits held with Guernsey banks at the end of December 2008 increased in sterling terms by £20.7 billion* ...

Total funds under management and administration fell by £1 billion (0.5%) over the quarter ended 31 December 2008 to £200.4 billion. For the year since 31 December 2007, values increased by £22.2 billion, an increase of 12.5%....

The Guernsey Financial Services Commission (the Commission) is today publishing ...

Total deposits held with Guernsey banks at the end of September 2008 increased in Sterling terms by £8.2 billion...

THE AUTHORISED CLOSED-ENDED INVESTMENT SCHEMES RULES 2008 (“the Authorised Closed-Ended Rules”) ...

Outsourcing in the Banking Sector in the Bailiwick of Guernsey ...

Guidance on Liquidity Risk Management...

The Guernsey Financial Services Commission (“ the Commission") has received a significant number of enquiries...

​The Commission continues to take an active role in international insurance regulation...

A seminar for Insurance Intermediaries took place on 27 November 2008...

Amendments to Schedules 1 and 2 to the Proceeds of Crime Law, etc....

​A seminar for members of GICMA (the Guernsey Insurance Company Managers Association) took place on 26 November 2008...

The Commission is pleased to announce that it has been working closely with Lloyd’s...

Following initial discussions with the UK Financial Services Authority (“FSA”) and HM Treasury in 2006 the Investment Business Division initiated a project to revise the existing Guernsey Class A open-ended fund rules....

The Commission regularly publishes updates to inform policyholders of the Guernsey branch of Equitable Life of significant matters...

GLOBAL CONDITIONS IMPACT GUERNSEY INVESTMENT FUNDS. Total funds under management and administration fell by £5.8 billion (2.8%) over the quarter ...

Business Continuity Planning and Disaster Recovery Management in the Banking Sector of the Bailiwick of Guernsey ...

Copies of statements, and questions and answers, on Landsbanki Guernsey Limited (in Administration) issued by the bank's administrators...

Important developments took place yesterday evening in connection with Landsbanki Guernsey....

The Commission has issued Business from Sensitive Sources Notice (Number 1) for Prescribed Businesses...

Last night the Directors of Landsbanki Guernsey Limited made an application to the Royal Court for the Court to appoint an administrator...

In recent years, the Commission has introduced “fast track” application processes for Qualifying Investor Funds and Registered Closed-ended Investment Funds....

The Guernsey Financial Services Commission played host to meetings last week...

​The Commission is consulting on three items of legislation....

The main changes to the December 2007 regulations for financial services businesses created by the amendment regulations...

In May the Commission consulted on a proposed AML/CFT framework for firms of legal professionals, accountants and estate agents when carrying out specified activities...

Following approval of the Protection of Investors (Bailiwick of Guernsey) (Amendment) Law, 2007 (“POI Amendment Law”) by the States of Guernsey at its meeting in December 2007, the Investment Business Division has been working on draft rules to take accou...

The Investment Business Division has been working on draft rules to take account of the changes to be brought in by the POI Amendment Law....

Total deposits held with Guernsey banks at the end of June 2008 decreased in Sterling terms by £1.4 billion ...

​FUNDS UNDER MANAGEMENT CONTINUE TO GROW...

The Guernsey Financial Services Commission has today issued a consultation paper to members of the Association of Guernsey Banks...

The revised rules, based on the UK’s New Collective Investment Scheme Sourcebook (“UK COLL Rules”), have been considered by a working party consisting of industry representatives....

The Report presents an extremely detailed assessment of certain complaints made concerning the prudential supervision of Equitable Life...

Basel II Pillar 2 assessment framework...

Basel II ICAAP initial observations...

The 2008 Annual Return forms are available for completion...

​Total deposits held with Guernsey banks at the end of March 2008 increased in Sterling terms by £10.3 billion ...

​The Commission has written to the managing partners of firms of legal professionals and accountants and to the managing directors of firms of estate agents in connection with consultation on a proposed AML/CFT framework...

The Guernsey Financial Services Commission has today commenced public consultation on a proposal to fast track the application process for specified licensees associated with Qualifying Investor Funds or Registered Closed-ended Investment Funds....

The seminar provided an opportunity for the Insurance Division to update the sector...

The Commission has issued a sixth Business from Sensitive Sources Notice...

​Please note that the website has now been updated...

​Further to Michael Graham’s letter dated 3 March 2008...

Further to Michael Graham’s letter dated 3 March 2008...

Total deposits held with Guernsey banks at the end of December 2007 increased in Sterling terms by £6.5 billion ...

​FUNDS UNDER MANAGEMENT REACH NEW HIGH. Over the year as a whole, values increased by £48 billion, an increase of 36.9%. ...

The decision to put Northern Rock plc into temporary public ownership will result in the ownership of the bank transferring ...

The seminar provided an opportunity to update the insurance intermediary industry and insurance managers...

In the spring of last year the Commission consulted on, amongst other matters...

St James Global Limited is a Guernsey company that was previously licensed to undertake insurance intermediary business...

Claridges Trustees Limited and Former Joint Fiduciary Licence Applicants Placed In Compulsory Liquidation...

This application was refused on 14 December 2007 and as a result the authorisation ended on 11 January 2008...

The seminar provided an opportunity to update the insurance intermediary industry on topical issues...

On 14 December 2007 the Guernsey Financial Services Commission gave notice to Claridges of the refusal of Claridges’ application for a full fiduciary licence under the Fiduciary Law....

The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 have now been signed by the Policy Council...

Link to Business from Sensitive Sources Notice 5...

Presentation on the Implementation of Basel II in Guernsey...

Total deposits held with Guernsey banks at the end of September 2007 increased in Sterling terms by £4.6 billion ...

Basel II Triparty Credit Risk Paper...

Basel II Market, Interest and Settlement Risk Paper...

Funds Under Management Continue to Grow...

Basel II ICAAP Paper...

The Commission is currently seeking written feedback from Investment licensees on these revised rules. ...

On 11 October the Commission applied pursuant to section 67A of the Companies (Guernsey) Law, 1994, as amended...

The Guernsey Financial Services Commission fully understands the concerns of all Northern Rock depositors....

Following consultation with financial services businesses, the Criminal Justice Regulations 2007 and the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing are now complete...

A joint statement was issued today by HM Treasury, the Bank of England and the Financial Services Authority ...

The Commission has become aware of a scam in which victims are asked to pay a fee in order to obtain “Certified Payment Liability Coverage”...

Total deposits held with Guernsey banks at the end of June 2007 increased in Sterling terms by £2.8 billion ...

Funds Under Management Reach New High...

The seminar provided an opportunity to update the insurance intermediary industry...

Basel II High Level Principles on Pillar 2 : Triparty Paper...

Funds Under Management Continue to Grow...

Total deposits held with Guernsey banks at the end of March 2007 increased sharply in Sterling terms by £13 billion ...

Basel II Operational Risk - Triparty Paper...

The 2009 Annual Return forms will be available on 1 June 2007...

Consultation paper on proposals to extend the Commission’s enforcement powers and to improve the rights of appeal from decisions of the Commission....

The Commission has written to various entities in connection with consultation on proposals to amend the Bailiwick's framework for countering money laundering and terrorist financing...

The Commission has issued a consultation paper on proposals to extend the Commission's enforcement powers and to improve the rights of appeal from decisions of the Commission. ...

​The following papers relate to proposed changes to the Insurance laws...

The States Report, the proposed amended version of The Trusts (Guernsey) Law, 1989 and a note from the Director of Finance Sector Development are now available on the website of the States of Guernsey Commerce and Employment Department...

The objective of the Seminar was to provide an update on the Commission’s proposals...

The Commission has prepared draft Bailiwick anti-money laundering and counter terrorist financing legislation on wire transfers to ensure that BACs can continue to be used by firms in the Islands for transfers between the Islands and the UK...

The draft regulations will be made under sections 1, 2 and 3 of the Uncertificated Securities (Enabling Provisions) (Guernsey) Law, 2005. ...

The purpose of the regulations is to provide an explicit framework for title to securities to be evidenced and transferred by means of a computerised settlement system without a written instrument. ...

funds Under Management Reach New High...

The implementation of a regime to include both regulated and registered investment funds will require the amendment of the Protection of Investors Law and will be subject to the legislative process. ...

A minor amendment has been made by the Policy Council to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Regulations, 2002...

Michael Graham is joining the Insurance Division as Deputy Director of Insurance...

The Guernsey Financial Services Commission has today commenced public consultation on a proposal to streamline the consent process for closed-ended investment funds. ...

The Financial Services Commission (Fees) Regulations, 2006 are now available to view and will become operational with effect from 1 January 2007. ...

Strong Growth Trend in Guernsey Continues...

Further to the recent series of papers on Basel II issues a briefing paper on Pillar 2 is available here. ...

The Guernsey, Isle of Man and Jersey Commissions have had concerns expressed to them regarding their decision not to recognise ...

Please find attached two papers on Basel II-related issues...

Speech to Cambridge Symposium...

Strong growth Trend in Guernsey Continues...

The Guernsey Financial Services Commission has announced that Diane Colton FCII will be the next Director of Insurance...

In May and June 2006 the Commission consulted with banks on proposed National Discretions to be adopted by the Guernsey, Isle of Man and ...

The Personal Questionnaire, Personal Declaration and application form for a Personal Fiduciary Licence have been updated...

Guernsey Plans to reinforce Investment Business Success - Liberalised ...

Since 2009, the Commission has followed the revised guidelines set down by the Basel Committee of Banking Supervisors ...

Strong Growth trend Continues...

Please find below a consultation paper on National Discretions for the Standardised Approaches to Credit and Operational Risk ...

Canada Life has reached an agreement with Equitable Life to acquire most of its non-profit annuity book of business...

The States of Guernsey has approved legislation which provides for the establishment of incorporated cell companies...

To provide licensees with feedback on what we have learned from the first cycle of on-site visits and outline our plans for future on-site visits...

Invoicing for annual licence fees to change to a calendar year basis...

This company is in Compulsory Liquidation...

​The Guernsey Financial Services Commission has today issued a revised guidance note on Qualifying Investor Funds....

Over the year as a whole, values increased by £26.4 billion, an increase of 35.9%...

This company is not licensed by the Commission to sell or provide insurance...

New fees regulations for 2006...

The Guernsey Financial Services Commission has recently investigated a number of cases where Bailiwick residents have received unsolicited telephone calls from staff of investment businesses that do not have their place of business in the Bailiwick. ...

Funds under management and administration in Guernsey grew by £6.7 billion over the quarter ended 30 September 2005 to reach a total of £91.7 billion....

The Trust Law Working Party established by the Commerce and Employment Department of the States of Guernsey has released an interim report...

Speech made to Cambridge Symposium on Economic Crime...

Funds Under Management and Administration Exceed £84 Billion...

Guernsey Funds Continue Strong Growth ...

CISAS has been established by the GFSC, the Jersey Financial Services Commission ("JFSC") and the Firms named at the end of this statement pursuant to the Split Capital Investment Trust ("Splits") settlement ...

The 2005 Annual Return forms are available for completion...

Parliamentary Ombudsman Confirms Guernsey Policyholders Covered by Investigation...

The Fiduciary Sector Policy Forum (FSPF) and the Association of Guernsey Banks (AGB) have worked closely with the Commission to produce an introducer certificate...

Representatives of the finance sector in Guernsey have requested clarification of the Commission's policy on certain aspects of introduced business...

The Trust Law Working Party, set up by the Department of Commerce and Employment...

In accordance with the provisions of section 41D(1) of the Protection of Investors (Bailiwick of Guernsey) Law, 1987 as amended, the Commission has today published a draft Code of Market Conduct for public consultation....

Press Release...

​In the second half of 2004, the Guernsey Financial Services Commission announced that it was consulting on proposals to streamline the approval process for both open and closed ended funds aimed at professional, experienced and knowledgeable investors. ...

Strong New Business Flows Bring Record Totals...

The Parliamentary Ombudsman (PO) has reopened her enquiry into Equitable...

Public Statement by The GFSC 24 DECEMBER 2004 ...

We are pleased to announce a schedule of regulatory fees to 2005...

PDF...

The licensing fees to be charged with effect from 1 January 2005...

Funds Under management and Administration Approach 70 Billion ...

The Guernsey Financial Services Commission has today commenced public consultation on a proposal to streamline the approval process for both open and closed-end funds aimed at professional, experienced and knowledgeable investors. ...

PDF...

Following the Decision of the Court of the Seneschal, Castle Company Management LLC...

Continuing growth leads to New Highs ...

The Guernsey Financial Services Commission today announced that it has appointed Stephen Trevor as the new Director of Fiduciary and Intelligence Services...

Equitable Life Assurance Society Update For Guernsey Branch Policyholders...

The Guernsey Financial Services Commission was tasked with the responsibility of raising the international profile and understanding of the captive insurance industry...

Following the issue of revised Recommendations by the Financial Action Task Force in 2003, the Commission has issued a statement on anti-money laundering standards for existing customers...

Funds Under Management and Administration exceed £60 Billion...

Subsequent to the judgment of the Court of the Seneschal dated 10 February 2004, the Commission now makes available the Judgment of the Deputy Seneschal of Sark...

The Commission has today published a statement on interviews conducted under section 21B(1) of the Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended...

The Commission is presently reviewing the report compiled by Lord Penrose which we obtained today...

The Guernsey Financial Services Commission conducted a consultation exercise between November 2003 and January 2004 on certain aspects of hedge fund operation....

The Commission has published a revised version of Appendix C of the Guidance Notes on the Prevention of Money Laundering and Countering the Financing of Terrorism...

Further record levels for the value of Guernsey and non-Guernsey funds administered in the Bailiwick were reported at 31 December, taking the value under management and administration over £55 billion for the first time....

The Association of Guernsey Banks, in conjunction with the Guernsey Financial Services Commission, the States of Guernsey and the Financial Intelligence Service have issued a new leaflet called "FIGHTING CRIME & TERRORISM: YOU CAN HELP"...

The Commission is issuing a statement on introduced business...

Guernsey's financial regulation and law enforcement standards are commended in a report published today by the International Monetary Fund (IMF)...

The Guernsey Financial Services Commission today issued for consultation a document, "The regulatory framework for Hedge Funds in Guernsey", setting out a range of practical issues which are faced by the growing number of hedge funds domiciled in Guernsey...

It is intended to assist sponsors of closed-end investment funds in preparing applications for consent, and to help them avoid unnecessary delay. ...

Funds Administered in Guernsey Exceed £50 Billion ...

WARNING - Cold Calls...

Warning - Cold Calls...

Notice issued in La Gazette Officielle on 16 July 2003...

Although this paper was issued in September 2000 it continues to be the definitive text on expected international standards for credit risk ...

The Guernsey Financial Services Commission has marked its fifteenth anniversary by sponsoring a seminar on international cooperation and the exchange of information...

Bankers will be aware that amendments currently in the pipeline to the Banking Supervision (Bailiwick of Guernsey) Law 1994 will create ...

Attention is drawn to these Regulations which came into effect on 8 January 2003...

Entities which have recently come to the Commission's attention...

Banks and their customers are warned that attempts have recently been made by criminals to obtain details of bank customers...

European Private Investment Bank has been brought to the Commission's attention...

Asia Pacific Group has been brought to the Commission's attention...

Code of Practice for Banks...

On 18 March 2002, the Zimbabwe (Export of Goods & Freezing of Funds) (Guernsey) Ordinance, 2002, came into force...

​The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Regulations, 2002 came into force on 14 August, 2002...

Link to Business from Sensitive Sources Notice 4...

The Guernsey Financial Services Commission has recently investigated a number of cases where Bailiwick residents have received unsolicited telephone calls from staff of investment businesses that do not have their place of business in the Bailiwick...

On 18 March the Zimbabwe (Export of Goods & Freezing of Funds) (Guernsey) Ordinance, 2002, came into force...

If you wish to open a bank account in Guernsey...

The Bank of England issued a news release on 21 February 2002 regarding EC Regulation 310/2002...

​Interested parties are being invited to comment on a consultation document issued by the Commission which recommends the ...

Link to Overriding Principles for a revised Know Your Customer framework - PDF document ...

At its annual general meeting in September 2000 the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems...

Link to Further International Backing for Guernsey, under External Evaluations...

Link to International Backing for Guernsey – FATF, under Publications...

Link to Progress made on Edwards Suggestions, under External Evaluations...

Link to Report of the Advisory and Finance Committee on the Status of the Review of Regulation in the Crown Dependencies (the Edwards Review), under External Evaluations...

Elsewhere in this book the Commission's objective has been described as being to provide effective, professional supervision and modern regulation of the finance sector to the highest international standards within a diverse and innovative environment...

Peter Crook's speech to The Cambridge International Symposium on Economic Crime - 15 September, 1999...

Link to The Edwards Report – Review of Financial Regulation in the Crown Dependencies, under External Evaluations...

Link provided to view/download Edwards Report...

The Prospectus Rules 200[8] and the Registered Collective Investment Schemes Rules 200[8] are the next set of draft rules to be issued for consultation....

Funds under management and administration grew by £25.6 billion (14.4%) over the quarter ended 31 March 2008 to reach a total of £203.8 billion. For the year since 31 March 2007, values increased by £63.4 billion, an increase of 45.2%....