News

The Guernsey Financial Service Commission has signed a Memorandum of Understanding (MoU) with the European Central Bank (ECB), the authority responsible for monetary policy and the supervision of significant banking institutions across the Eurozone. The MoU provides a framework for cooperation and information sharing between the two authorities. Speaking about the MoU, the Commission’s Director...

The Policy & Resources Committee has enhanced the sanctions-related information on the States of Guernsey website with the addition of guidance on challenging designations and obtaining assistance with the unfreezing of funds. Standard forms are also now available on the website in relation to the making of reports, challenging designations and making designation proposals. Businesses should take...

Please be advised that the following 13 individuals/entities have been designated under the Iran (Sanctions) Regulations 2023 (the UK regulations) : Mohammad Reza Ashtiani (Unique ID: IRN0195) General Staff Of The Armed Forces Of The Islamic Republic Of Iran (Unique ID: IRN0196) Islamic Revolutionary Guard Corps Navy (IRGCN) (Unique ID: IRN0197) Gholamali Rashid (Unique ID: IRN0198) Khatam-al...

Please be advised that the Policy & Resources Committee has enhanced the sanctions-related information on the States of Guernsey website with the addition of guidance on challenging designations and obtaining assistance with the unfreezing of funds. Standard forms are also now available on the website in relation to the making of reports, challenging designations and making designation proposals...

Please be advised that amendments have been made to the details of the following entity - NATIONAL AEROSPACE TECHNOLOGY ADMINISTRATION (Group ID: 13343) which is designated under the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). This follows an update to the UK Sanctions List , enacting the UN's decision made on 15 April 2024 to amend this entry...

L & A Finance L imited is Guernsey registered company. However, it has been noted that criminals have been using the company’s details in an attempt to commit fraud. The fraud scheme has included the setting up of a false website in the name of the firm. Anyone seeking to conduct business with L & A Finance L imited is encouraged to take steps to carefully ensure that they are dealing with the...

The States of Guernsey has published a report concerning the Bailiwick of Guernsey's money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks from legal persons and legal arrangements . The report follows, and supplements, the Bailiwick of Guernsey’s second National Risk Assessment , also known as NRA2, which was published in December 2023. When...

The Commission has today issued its report on the Thematic Review of Governance, Risk and Compliance Controls to Counter Financial Crime – Estate Agency, Legal and Accountancy Services. Towards the end of 2023 the Commission’s Financial Crime Division undertook a thematic review of the financial crime controls implemented within businesses registered with the Commission as prescribed businesses...

The Commission has today issued a feedback paper following the consultation on disclosure rules for insurance intermediaries issued in 2023. The Commission is grateful for the responses received. The feedback paper, along with the Insurance Intermediaries (Amendment) Rules, 2024, can be found on the Commission’s Consultation Hub . The amendments to the rules will come into effect on 1 st January...