Insurance

​ Equitable Life Update October 2008 (PDF)

On 8 September the Policy Council signed the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2008. The main changes to the December 2007 regulations for financial services businesses created by the amendment regulations include: 1. The introduction of a requirement for regulated financial services businesses to register with the...

PRESS RELEASE​ The Commission welcomes the fact that the report of the Parliamentary and Health Services Ombudsman (“the Report”) was presented to the UK Parliament on 16 July 2008. The Report is the largest of its kind ever produced by the Ombudsman and presents an extremely detailed assessment of certain complaints made concerning the prudential supervision of Equitable Life. The Commission will...

​ In light of recent developments, the Commission has issued a sixth Business from Sensitive Sources Notice which is available here. This sixth Business from Sensitive Sources Notice supersedes Business from Sensitive Sources Notice - Number 5. The Commission would be pleased to provide further advice if you have any queries arising from this Notice.

​Further to Michael Graham’s letter dated 3 March 2008, please find attached the following draft Regulations and Codes: The Insurance Business (Approved Assets) Regulations, 2008- DRAFT The Insurance Business (Asset and Liability Valuation) Regulations, 2008- DRAFT The Insurance Business (Annual Return) Regulations, 2008- DRAFT The Insurance Business (Duties of General Representative) Regulations...

​Further to Michael Graham’s letter dated 3 March 2008, please find attached the following draft Rules, Regulations and Codes: The Insurance Managers and Insurance Intermediaries (Approved Assets) Regulations, 2008 The Insurance Managers and Insurance Intermediaries (Client Monies) Regulations, 2008 The Insurance Managers and Insurance Intermediaries (Annual Return) Regulations, 2008 The Insurance...

In the spring of last year the Commission consulted on, amongst other matters: (i) amendments to the minimum criteria for licensing in the Banking Supervision (Bailiwick of Guernsey) Law, 1994; the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000; the Insurance Business (Bailiwick of Guernsey) Law, 2002; and the Insurance Managers...

PRESS RELEASE​ It has recently come to the attention of the Commission that Joseph Coutts, the former shareholder and managing director of St James Global Limited, may be trading as an insurance intermediary under the name St James Global from Monaco. The Commission understands that he may be trying to contact former clients of St James Global Limited to promote new products. St James Global...

​ Business from Sensitive Sources Notice 5