Legislation & 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.


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 -


Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (Consolidated as at 2013) 466.1KB
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 -


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 02/2017 for Financial Services Businesses 269.1KB -
Instruction Number 03/2017 for Financial Services Businesses 268KB -
Instruction Number 04/2017 for Financial Services Businesses 271.7KB -
Instructions and Notices - Record of Changes 396.8KB -


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
Cyber Security Rules and Guidance, 2021 1.1MB -
Investment Exchange (Notification) Rules 1998 34.1KB
The Guernsey Green Fund Rules and Guidance, 2021 (consolidated text) 481.1KB -
The Licensees (Capital Adequacy) Rules and Guidance, 2021 (consolidated text) 402.2KB -
The Licensees (Conduct of Business) Rules and Guidance, 2021 (consolidated text) 665.6KB -
The Natural Capital Fund Rules and Guidance, 2022 375.2KB -
The Private Investment Fund Rules and Guidance (2), 2021 342.1KB


Code of Market Conduct 255.5KB
Finance Sector Code of Corporate Governance 334.5KB
Principles of Conduct of Finance Business 72.5KB


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
Custodians of Open-Ended Collective Investment Schemes with Indirectly Held Assets - Guidance Note 375.6KB
Explanatory notes for completion of Form 141a and b 125.3KB
Guidance for Authorised and Registered Collective Investment Schemes on Measures to Counter the Risk of Greenwashing 187.3KB -
Guidance in Respect of Fast Track Application Process 172.9KB
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 Registered Collective Investment Schemes 166.2KB
Hedge Fund Flexible Approach to Authorisation Policy 99KB
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
Qualifying Investor Funds (QIF) Guidance Note 149.5KB
Risk-based Supervision in Guernsey 376KB
Social Media Issues 31.4KB


FAQ on Annual Fees 149.8KB -
Fit and Proper Persons - Meeting the Criteria 159KB
IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information 267.2KB
Notice of Modification of the Licensees (Capital Adequacy) Rules, 2021 90.3KB -
Notice regarding the suspension of the authorisation and registration of funds 104.5KB -
Recognised Investment Exchanges and the Commission’s Position in Respect of the United Kingdom 110.9KB -


Consultation Paper - Custodian Guidance 287KB -
Consultation Paper - Cyber Security Rules and Guidance 2.1MB -
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 -
Custodian Guidance 717.9KB -
Cyber Rules Consultation Paper Feedback 751.8KB -
Discussion Paper on Ancillary Vehicles 572.2KB -
Feedback Paper on 2023 Fee Rates 887.3KB -
Funds Growth Omnibus Discussion Paper 499.8KB -
GFSC - 2022 Fee Consultation Paper 373.5KB -
Spring Green Consultation Paper 636KB -