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.

Law

Disclosure (Bailiwick of Guernsey) Law, 2007 (Consolidated text) 345.4KB
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 -

Regulations

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 Amalgamation and Migration of Companies (Fees payable to the GFSC) (Amendment) Regulations, 2017 122.8KB -
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 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 -

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
Guernsey Green Fund Consolidated Rules 2018 686.9KB -
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 -
Retirement Annuity Trust Schemes Rules, 2010 1.4MB
The Authorised Collective Investment Schemes (Class B) Rules 2013 2.8MB -
The Licensees (Conduct of Business) Rules 2016 1.1MB -
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

Code of Corporate Governance 525.4KB
Code of Market Conduct 353.8KB -
Principles of Conduct of Finance Business 72.5KB

Guidance

Article 36 of AIFMD - Depositary Requirements Guidance Notes Post-Consultation 479KB
Change of Designated Person Guidance 176KB -
Custodians of Open-Ended Collective Investment Schemes with Indirectly Held Assets - Guidance Note 753.9KB -
Enforcement-Guidance-Note-2017
Guidance Note on Cyber Security 232.3KB
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 Registered Collective Investment Schemes 92.9KB
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 Notes For Completion Of Investment Audited Financial Statements and Compliance Returns (Licensee) – FORM 142 241.2KB -
Guidance on Licence Applications for Entities Acting in Respect of Qualifying Investor Funds or Registered Collective Investment Schemes 67.6KB
Hedge Funds - Flexible Approach to Authorisation Policy 23.3KB
Non-Guernsey Schemes Guidance 113KB -
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
Risk-based Supervision in Guernsey 376KB
Social Media Issues 31.4KB
The Licensees (Conduct of Business) Rules 2009 - Guidance Note 353.4KB -

Other

Dear CEO - Custodians 298.1KB -
Feedback Statement on The Registered Collective Investment Schemes Rules 2015 284.1KB
IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information 267.2KB

Consultations

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 -
Custodian Guidance 717.9KB -
Discussion Paper on Ancillary Vehicles 572.2KB -
Funds Growth Omnibus Discussion Paper 499.8KB -