The Guernsey Financial Services Commission ("the Commission") has introduced the Innovation SoundBox to serve as a cross-Commission hub for enquiries regarding innovative financial products and services.
Who is the Innovation SoundBox for?
The Innovation SoundBox is available and prepared to assist prospective innovative or start-up financial service businesses who are considering applying for a regulatory licence or registration from the Commission, even for propositions that could be at a very early stage.
What will the Innovation SoundBox provide?
The team will provide:
Access to regulators and Commission policy makers;
Transparency on the Bailiwick’s regulatory requirements;
A steer on potential regulatory difficulties and challenges an innovative proposition could face;
Openess on our suitability & eligibility criteria; and
Explanation of our requirements and how to submit an application for authorisation.
What feedback and guidance can I get from the Innovation SoundBox?
The feedback available is on the specialist areas of the financial services regulations. Our team can advise and guide on understanding the regulatory framework and how it may apply to your product or service.
The initial meeting would be to understand the innovative service or product and assess the appropriate legislation. The Innovation SoundBox team welcome and encourage an open discussion in order to provide specific feedback on the proposition.
It is possible that it may be necessary to hold subsequent meetings to progress the innovative product or service due to involving other Commission colleagues with specific expertise and knowledge on a subject matter. If this is necessary you will be advised of a point of contact.
How do I contact the Innovation SoundBox?
If you would like to request a meeting please use the online enquiry form via the First Contact link below.
What are the fees and charges?
We will not charge any fees for consulting with the Innovation SoundBox team.