Legislation and Guidance

This page provides links to relevant laws, regulations, instructions, rules, codes, guidance and other documents.  It should be noted that, whilst the Commission has taken all reasonable steps to ensure that the information shown on this website is accurate, the Commission does not accept any responsibility for errors made.  Where possible links have been provided to the relevant page of the Guernsey Legal Resources ("GLR") website reflecting up-to-date consolidated versions of laws and regulations.  Original versions can also be found on the GLR website.  Please note, the Commission cannot be held responsible for the content of external websites.

The following relevant legislation is posted and reproduced with the consent of the States of Guernsey.

Law

Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2017 521.8KB -
Data Protection (Transfer in the Substantial Public Interest) Order, 2002 104.6KB
Disclosure (Bailiwick of Guernsey) Law, 2007 (Consolidated text) 345.4KB
Foundations (Guernsey) Law 2012 (Consolidated text) 695.6KB
Libya (Restrictive Measures) (Guernsey) Ordinance, 2011 (Consolidated text) 153.8KB
Limited Partnerships (Guernsey) Law, 1995 500.3KB
Machinery of Government (Transfer of Functions)(Guernsey) Ordinance, 2003 35.7KB
Machinery of Government (Transfer of Functions)(Guernsey) Ordinance, 2003 (Commencement) Ordinance, 2004 7.2KB
No.18 Insider Dealing (Securities & Regulated Markets) (Amendment) Order, 2000 166.1KB -
No.22 Insider Dealing (Securities & Regulated Markets) (Amendment) Order, 2017 99.4KB -
No.6 Insider Dealing (Securities & Regulated Markets) (Amendment) Order, 1997 114.9KB -
No.64 Insider Dealing (Securities & Regulated Markets) (Amendment) Order, 2008 136.6KB -
Terrorist Asset Freezing etc Act 2010 (Guernsey) Order 2011 112.9KB

Regulations

Amalgamation-and-Migration-of-Companies-(Fees-payable-to-the-GFSC)-(Amendmt)-Regs-2015 1MB
Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (Consolidated as at 2013) 466.1KB
Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) Regulations, 2008 (Consolidated as at 01/01/2014) 532.1KB
Financial-Services-Commission-(Limited-Liability-Partnerships)-(Fees)-Regs-2015 0.9MB
Terrorism and Crime (Bailiwick of Guernsey) Regulations 2007 (Consolidated text) 343.2KB
The Amalgamation and Migration of Companies (Fees payable to the GFSC) (Amendment) Regulations, 2017 122.8KB -
The Insurance Managers and Insurance Intermediaries (Approved Assets) (Amendment) Regulations, 2018 430.4KB -
The Investor Protection (Designated Countries and Territories) Bailiwick of Guernsey) Regulations, 2017 230.5KB -
The Regulation of Fiduciaries (Fiduciary Advertisements and Annual Returns)(Amendment) Regulations, 2013 6.6MB

Instructions

Financial Services Businesses Instruction (Number 01) 57.9KB
Financial Services Businesses Instruction (Number 02) 47KB
Financial Services Businesses Instruction (Number 03) 55.7KB
Financial Services Businesses Instruction (Number 04) 55.9KB
Financial Services Businesses Instruction (Number 05) 17.2KB
Financial Services Businesses Instruction (Number 06) 50.2KB
Financial Services Businesses Instruction (Number 14) Business from Sensitive Sources - Iran 55.9KB
Instruction Number 01/2017 for Financial Services Businesses 367.3KB -
Instruction Number 01/2017 for Prescribed Businesses 367.1KB -
Instruction Number 02/2017 for Financial Services Businesses 269.1KB -
Instruction Number 02/2017 for Prescribed Businesses 268.9KB -
Instruction Number 03/2017 for Financial Services Businesses 268KB -
Instruction Number 03/2017 for Prescribed Businesses 267.8KB -
Instruction Number 04/2017 for Financial Services Businesses 271.7KB -
Instruction Number 04/2017 for Prescribed Businesses 271.5KB -
Instruction Number 04/2019 for Specified Businesses 154.8KB -
Instructions and Notices - Record of Changes 396.8KB -
Prescribed Businesses Instruction (Number 01) 53.9KB
Prescribed Businesses Instruction (Number 02) Suspicion Reports 49.1KB
Prescribed Businesses Instruction (Number 03) 52.7KB
Prescribed Businesses Instruction (Number 04) 17.4KB
Prescribed Businesses Instruction (Number 12) Business from Sensitive Sources - Iran 56KB

Rules

The Licensees (Conduct of Business) Rules 2016 (Amendment) Rules 2017 112.2KB -
AIFMD (Marketing) Rules 2013 304.8KB
Authorised Closed-Ended Investment Schemes Rules 2008 241.4KB
Authorised Collective Investment Schemes (Class A) Rules 2008 1.7MB
Collective Investment Schemes (Class A) Rules 2002 900.5KB
Collective Investment Schemes (Compensation of Investors) Rules 1988 58.7KB
Collective Investment Schemes (Qualifying Professional Investor Funds) (Class Q) Rules 1998 60.8KB
Financial Resources Requirements Rules, 2018 403.4KB -
Guernsey Green Fund Consolidated Rules 2018 686.9KB -
Insurance Business (Special Purpose Insurer) Rules 2018 499KB -
Investment Exchange (Notification) Rules 1998 34.1KB
Licensees (Capital Adequacy) Rules 2010 214.4KB
Licensees (Conduct of Business and Notification) (Non-Guernsey Schemes) Rules 1994 20.7KB
Prospectus Rules 2018 405.3KB -
Registered Collective Investment Scheme Rules 2018 428.6KB -
Regulation of Fiduciaries (Accounts) (Amendment) Rules, 2010 198.3KB
Regulation of Fiduciaries (Accounts) Rules, 2001 1MB
Regulation of Fiduciaries (Accounts) Rules, 2001 (consolidated text) 529.8KB
Retirement Annuity Trust Schemes Rules, 2010 1.4MB
Retirement Annuity Trust Schemes Rules, 2010 (consolidated text) 1MB
The Authorised Collective Investment Schemes (Class B) Rules 2013 2.8MB -
The Fiduciary Rules and Guidance 2020 1MB -
The Insurance Business (Public Disclosure of Information) Rules, 2018 553.2KB -
The Insurance Business (Solvency) (Amendment) Rules, 2018 284.6KB -
The Insurance Business (Solvency) Rules 2015 - Consolidated Version 1.5MB -
The Insurance Intermediaries (Conduct of Business) Rules 2014 1MB
The Insurance Managers (Conduct of Business) Rules 2014 352.9KB
The Licensed Insurer’s (Conduct of Business) Rules, 2018 606.4KB -
The Licensees (Conduct of Business) Rules 2016 1.1MB -
The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No. 2) 2017 210.4KB -
The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules 2017 16.1MB
The Pension Rules and Guidance 2020 726.8KB -
The Private Investment Fund Rules 2016 70.1KB -
The Registered Collective Investment Schemes Rules 2015 380.4KB
The Retirement Annuity Trust Schemes (Amendment) Rules, 2013 691.5KB
The-Retirement Annuity Trust Schemes Rules 2015 321.4KB

Codes

AGB Code of Conduct for Deposit Advertisements August 2012 820.7KB
Code of Conduct for Authorised Insurance Representatives (from 1/1/2015 to 31/3/2017) 336.8KB
Code of Conduct for Authorised Insurance Representatives (from 1/4/2017) 852.2KB -
Code of Conduct for Financial Advisers 318.4KB
Code of Corporate Governance 525.4KB
Code of Market Conduct 353.8KB -
Code of Practice - Company Directors 14.2KB
Code of Practice - Corporate Service Providers 337.7KB
Code of Practice - Foundation Service Providers 374.2KB
Code of Practice - Trust Service Providers 340.1KB
Code of Practice for Branch Operations 9.2KB
Code of Practice for Insurance Intermediary Applicants and Licensees Conducting Business from within the Bailiwick of Guernsey 13.6KB
Guernsey Financial Services Commission Code of Practice for Banks 31.7KB
Principles for the Management of Credit Risk 13.3KB
Principles of Conduct of Finance Business 72.5KB

Guidance

AML/CFT Typologies - Jersey 636.2KB
Article 36 of AIFMD - Depositary Requirements Guidance Notes Post-Consultation 479KB
Change of Designated Person Guidance 176KB -
Charities and NPO Case Studies 46KB
Dealers in High Value Goods - Example 45.1KB
Egmont Financial Analysis Cases 2011-2013 6MB
Enforcement-Guidance-Note-2017 278.5KB
FATF:Trade Based Money Laundering 0.9MB
Feedback and Typologies STR 590.3KB
Feedback on AML/CFT on-site visits 137.7KB
Financial Crime Risk Return - A Guide for Firms 597.4KB
Fit and Proper Guidance 753.4KB -
GIIA Insurance SPV Guidance 157.9KB
Guidance for Entities Acting in Respect of Qualifying Investor Funds or Registered Closed Ended Investment Funds 38.6KB -
Guidance in respect of requesting disclosure derogation under FRS 103 306.5KB
Guidance Note for International Life and Pensions Insurers 16.8KB
Guidance Note for Licensed Insurers on Category 6 – Non-Special Purposes Insurers 567.4KB -
Guidance Note for Licensed Insurers on Change of Majority Shareholder Controller 361.4KB -
Guidance Note for Licensed Insurers on Outsourcing 130.6KB -
Guidance Note for Licensed Insurers on Reinsurance and Other Forms of Risk Transfer 322.6KB -
Guidance Note for Licensed Insurers on Resilience Testing 14.7KB
Guidance Note for Licensed Insurers on Unit Linked Pricing 22.1KB
Guidance Note June 2014 521.9KB
Guidance Note on Actuarial Valuations 214.2KB
Guidance Note on Cyber Security 232.3KB
Guidance Note on Insurance Fraud 152.8KB -
Guidance Note on Internal Models 134.5KB
Guidance Note on Licensed Insurers’ Own Solvency Assessment 403.9KB -
Guidance Note on Notifications of New Directors, Controllers and Partners of Licensees Under Section 28A of The Protection of Investors (Bailiwick of Guernsey) Law, 1987 14.7KB
Guidance Note on Private Trust Companies 546.3KB
Guidance Note on Producer Owned (Re)Insurance Companies 11KB
Guidance Note on Registered Collective Investment Schemes 92.9KB
Guidance note on Special Purpose Insurers 444.3KB -
Guidance Note on Supervisory Ladder of Intervention 304.9KB
Guidance Note on the Completion and Submission of Annual Returns 427.4KB -
Guidance Note on the Independence of Managers and Trustees of Class A Collective Investment Schemes 11.4KB
Guidance Note on The Licensees (Capital Adequacy) Rules 2010 64.8KB
Guidance Note on the Outsourcing of Functions by Entities Licensed Under The Protection of Investors (Bailiwick of Guernsey) Law, 1987 60.7KB
Guidance Note on Training and Competency Schemes 176.4KB -
Guidance Note on Up Streaming and Transparency 99.9KB
Guidance Note on Verification of Prudential Returns 137.3KB -
Guidance Notes for 124 Fiduciary Annual Return Full Fiduciary 1MB -
Guidance Notes For Completion Of Investment Audited Financial Statements and Compliance Returns (Licensee) – FORM 142 241.2KB -
Guidance Notes on Actuarial Requirements and Standards 119.2KB
Guidance on disclosure under the AIR Code 342.4KB
Guidance on Licence Applications for Entities Acting in Respect of Qualifying Investor Funds or Registered Collective Investment Schemes 67.6KB
Guidance on Liquidity Risk Management 534KB
Guidance on notifications required from Licensed Insurers 30.6KB
Guidance on submitting information electronically to the Commission 167.6KB
Guidelines to Banks and their Auditors 753.9KB
Guidelines to banks and their auditors issued under s1 (b) (ii) of the Banking Supervision (Accounts) Rules, 1994 474.8KB
Hedge Funds - Flexible Approach to Authorisation Policy 23.3KB
Large Exposure Policy 916.4KB
Legal Risk Guidance Note for Banks 94.6KB
Non-Guernsey Schemes Guidance 113KB -
Note on company formation 148.7KB
Note on managed trust company relationships 23.7KB
NRFSB Decision Tree 329.5KB
Outsourcing Risk Guidance Note for Banks 212.6KB
Pillar 2 Add-on Guidance 470.6KB -
Pillar 2 Working Sheet 25.2KB -
Pricing controls in respect of Open Ended Collective Investment Schemes 76.1KB
Principles of Conduct of Derivatives Business 152.4KB
QIF Guidance Note.docx 20.6KB
Registered Office Guidance 471.7KB -
Risk-based Supervision in Guernsey 376KB
Simplified Guidance on the AML-CFT Framework 193.4KB
Social Media Issues 31.4KB
Standard on the Regulation of Trust and Corporate Service Providers 516KB
Statement of Policy on Interviews (June 2014) 312.4KB
Statement on Anti-Money Laundering Standards for Existing Customers 103.4KB
The Licensees (Conduct of Business) Rules 2009 - Guidance Note 353.4KB -
World Bank working paper: Non Profit Organizations and the Combatting of Terrorism Financing 1.2MB

Other

Approved Auditors List - April 2020 310.1KB -
Commission SAR Presentation Summary 354.4KB
Cyber Security Self-Assessment Helpsheet – November 2019 275.2KB -
Dear CEO - Custodians 298.1KB -
Feedback Statement on The Registered Collective Investment Schemes Rules 2015 284.1KB
Financial Crime Risk Return - Example 1.5MB
GACO Samantha Sheen Presentation (29-01-14) 234.4KB
Goverance and Ethics Speech WM 30.04.14 496.5KB
Independent Evaluation Review 375.3KB
IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information 267.2KB
Policy Statement on Insurance Group Supervision 102.4KB
Samantha Sheen NED Forum Presentation (09-12-13) 237.3KB
The-Retirement-Annuity-Trust-Schemes-Rules-2015 120.2KB

Consultations

2018 Fee Rate Proposal Consultation Paper 540.5KB -
Approved Assets Regulations for Insurance Managers and Intermediaries Consultation Paper 484.9KB -
Basel III Liquidity Consultation Feedback 517.4KB -
Basel III Liquidity Consultation Paper 2.1MB -
Consultation Paper - Custodian Guidance 287KB -
Consultation Paper - Cyber Security Rules and Guidance 2.1MB -
Consultation Paper 2017 Fee Proposals 393.5KB
Consultation Paper on Proposals for a Green Investment Discount for Life Insurer Capital Requirements 1.1MB -
Consultation Paper – Pension Rules 587.6KB -
Consultation Paper – Proposals to create a single Fiduciary Handbook 504.2KB -
Custodian Guidance 717.9KB -
Discussion Paper on Ancillary Vehicles 572.2KB -
Discussion Paper on the New Fiduciary Licence Categorisation 400.8KB -
DP - Proposals to create Fiduciary Handbook CLOSED 30 April 2019 658.8KB -
Draft Fiduciary Handbook 1MB -
Draft Pension Rules 1.1MB -
Funds Growth Omnibus Discussion Paper 499.8KB -
Guernsey and The Development Of Global And European Insurance Capital Standards - Discussion Paper 1MB -
Guernsey and the Development of Global and European Insurance Capital Standards - Feedback Paper 540KB -
Insurance Manager and Intermediary Approved Assets Regulations - Feedback paper 429.4KB -
Insurance Policy Omnibus Consultation Feedback Paper 655KB -
Insurance Regulation Omnibus Consultation Paper 878.9KB -
Lending, Credit & Finance Consultation Paper 2.1MB -
Modernisation of Framework for Pensions Supervision Discussion Paper 834.3KB -
Revisions to the Bailiwick's AML/CFT Framework 557.8KB -
Special Purpose Insurers - Feedback Paper 524.1KB -
Using Technology for CDD 414KB

FATF Guidance

2012 July - Specific Risk Factors in the Laundering of Proceeds of Corruption 1.3MB -
2013 June - ML and TF vulnerabilities legal professionals 1.3MB -
2013 June - Risk Based Approach to Prepaid Cards Mobile Payments and Internet-Based Payment Services 1.1MB -
2014 June - Risk of terrorist abuse in non-profit organisations 1.9MB -
2014 October - Risk Based Approach Banking Sector 1.4MB -
2015 June - Risk Based Approach to Virtual Currencies 607.1KB -
2016 February - Risk Based Approach for Money Value Transfer Services 3.3MB -
2018 July - FATF Egmont Concealment beneficial ownership 2.7MB -
2018 October - Risk Based Approach Life Insurance 3.1MB -
2018 October - Risk Based Approach Securities Sector 3.1MB -
2019 July - Terrorist Financing Risk Assessment Guidance 3.9MB -
2019 June - Risk Based Approach Accounting Profession 1MB -
2019 June - Risk Based Approach Legal Professionals 2.1MB -
2019 June - Risk Based Approach to Virtual Assets and Virtual Asset Service Providers 2MB -
2019 June - Risk Based Approach Trust and Company Service Providers 1.8MB -
2019 October - Best Practices Beneficial Ownership Legal Persons 2.9MB -
2020 May - COVID-19-related Money Laundering and Terrorist Financing 1.7MB -