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
Financial-Services-Commission-(Limited-Liability-Partnerships)-(Fees)-Regs-2015 0.9MB
Terrorism and Crime (Bailiwick of Guernsey) Regulations 2007 (Consolidated text) 343.2KB
The Companies (Incorporated Cell Companies) (Prescribed Classes) Regulations, 2021 225.6KB -
The Investor Protection (Designated Countries and Territories) Bailiwick of Guernsey) Regulations, 2017 230.5KB -

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

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
Consolidated Conduct of Business Rules and Guidance, 2021 547.7KB -
Consolidated Fiduciary Rules and Guidance, 2021 574.6KB -
Cyber Security Rules and Guidance, 2021 1.1MB -
Investment Exchange (Notification) Rules 1998 34.1KB
The Guernsey Green Fund Rules and Guidance, 2021 473.6KB
The Pension Scheme and Gratuity Scheme Rules and Guidance, 2021 501.6KB
The Private Investment Fund Rules and Guidance (2), 2021 342.1KB

Codes

AGB Code of Conduct for Deposit Advertisements August 2012 820.7KB
Code of Conduct for Authorised Insurance Representatives 338.5KB
Code of Conduct for Financial Advisers 206.5KB
Code of Market Conduct 255.5KB
Code of Practice for Banks 151.1KB
Code of Practice for Branch Operations 93.6KB
Code of Practice for Insurance Intermediary Applicants and Licensees Conducting Business from within the Bailiwick of Guernsey 13.6KB
Finance Sector Code of Corporate Governance 334.5KB
Principles for the Management of Credit Risk 81.6KB
Principles of Conduct of Finance Business 72.5KB

Guidance

AML/CFT Typologies - Jersey 636.2KB
Applications and Notifications in respect of Manager-Led Product 157KB
Article 36 of AIFMD - Depositary Requirements Guidance Notes 328.9KB
Change of Designated Person Guidance 118.5KB
Charities and NPO Case Studies 46KB
Custodians of Open-Ended Collective Investment Schemes with Indirectly Held Assets - Guidance Note 375.6KB
Dealers in High Value Goods - Example 45.1KB
Egmont Financial Analysis Cases 2011-2013 6MB
Explanatory notes for completion of Form 141a and b 125.3KB
FATF:Trade Based Money Laundering 0.9MB
Feedback and Typologies STR 590.3KB
Feedback on AML/CFT on-site visits 137.7KB
GIIA Insurance SPV Guidance 157.9KB
Guidance in Respect of Fast Track Application Process 172.9KB
Guidance in respect of requesting disclosure derogation under FRS 103 186.6KB
Guidance Note for International Life and Pensions Insurers 104.8KB
Guidance Note for Licensed Insurers on Catergory 6 - Non-Special Purpose Insurers 128.6KB
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 110.9KB
Guidance Note for Licensed Insurers on Resilience Testing 95.2KB
Guidance Note for Licensed Insurers on the Completion and Submission of Annual Returns 181.7KB
Guidance Note for Licensed Insurers on Unit Linked Pricing 22.1KB
Guidance Note June 2014 521.9KB
Guidance Note on Actuarial Requirements and Standards 93KB
Guidance Note on Actuarial Valuations 214.2KB
Guidance Note on Bank Auditors’ Reports on Guernsey Financial Services Commission Returns Used for Prudential Purposes 179.7KB
Guidance Note on Insurance Fraud 152.8KB -
Guidance Note on Internal Models 134.5KB
Guidance Note on Licensed Insurers' Own Solvency Assessment 159.4KB
Guidance Note on Notifications to the Commission 115.2KB
Guidance Note on Producer Owned (Re)Insurance Companies 11KB
Guidance Note on Special Purpose Insurers 144.8KB
Guidance Note on Supervisory Ladder of Intervention 304.9KB
Guidance Note on the Independence of Managers and Trustees of Class A Collective Investment Schemes 85.9KB
Guidance Note on the Outsourcing of Functions by Entities Licensed Under The Protection of Investors (Bailiwick of Guernsey) Law, 2020 209.9KB
Guidance Note on Training and Competency Schemes 147KB
Guidance Notes For Completion Of Investment Audited Financial Statements and Compliance Returns (Licensee) - FORM 142 158.9KB
Guidance on Disclosure under the AIR Code 84.8KB
Guidance on Liquidity Risk Management 274KB
Guidance on Registered Collective Investment Schemes 166.2KB
Guidance on submitting information electronically to the Commission 167.6KB
Hedge Fund Flexible Approach to Authorisation Policy 99KB
Large Exposure Policy 916.4KB
Legal Risk Guidance Note for Banks 94.6KB
Managed trust company relationships 86.4KB
Note on Company Formation 132KB
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 199.8KB
Principles of Conduct of Derivatives Business 65.2KB
Private Investment Fund (PIF) Guidance 174.2KB
Private Trust Company Guidance 191.8KB
Provision of Registered Office Services by Unregulated Persons 120.6KB
Qualifying Investor Funds (QIF) Guidance Note 149.5KB
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 2022) 794.2KB
Statement on Anti-Money Laundering Standards for Existing Customers 103.4KB
World Bank working paper: Non Profit Organizations and the Combatting of Terrorism Financing 1.2MB

Other

Approved Auditors List - August 2021 127.6KB -
Commission SAR Presentation Summary 354.4KB
Cyber Security Self-Assessment Helpsheet – November 2019 275.2KB -
Fit and Proper Persons - Meeting the Criteria 159KB
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

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 on Proposals for Non-Guernsey Schemes 512.8KB -
Consultation Paper on Proposals for Private Investment Funds 810.1KB -
Consultation Paper on Proposals for Private Investment Funds – Appendix 1 671.4KB -
Consultation Paper on the Codes and Guidance Documents proposed to be re-issued under Revision of Laws 539.1KB -
Consultation Paper on the Statutory Instruments to be re-issued 380.5KB -
Consultation Paper – Ancillary Vehicles 415.1KB -
Consultation Paper – Fiduciary Rules 2021 230.7KB -
Consultation Paper – Pension Rules 587.6KB -
Consultation Paper – Proposals to create a single Fiduciary Handbook 504.2KB -
Custodian Guidance 717.9KB -
Cyber Rules Consultation Paper Feedback 751.8KB -
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 -
GFSC - 2022 Fee Consultation Paper 373.5KB -
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 -
Spring Green Consultation Paper 636KB -
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 March - Guidance on Digital ID 3.4MB -
2020 May - COVID-19-related Money Laundering and Terrorist Financing 1.7MB -