Ongoing Supervision & Thematic Reviews

Approach to Supervision

Under PRISM the Investment Supervision and Policy Division carries out full risk assessment visits and engagement visits to all licensees with an impact rating of Medium Low, Medium High or High. In addition the Division undertakes focused thematic work across licensees and funds in all impact categories.

Online Returns

Licensees are required to submit returns each year using the Online Submissions Portal.

Persons holding an investment licence are reminded that, under The Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010, as amended an administrative financial penalty will be payable in respect of any return which is filed late.

Notifications

Licensees are encouraged to use the Online Submissions Portal when making notifications to the Commission. A list of notifications that can be submitted through the Online Submissions Portal can be found here.

Where an individual is appointed as or ceases to be a controller, director, partner or manager of a licensee which holds an investment licence, he or she is required to notify the Commission using the Online PQ Portal.

Licensees

The Investment Business Division supervises its licensees by conducting regular desk based off-site monitoring...

Funds

The Investment Business Division supervises its Designated Managers and Designated Custodians by conducting regular desk based monitoring...

Ongoing Supervision

Listed below are useful documents related to the Commission's investment supervision.

Please click on the individual links to view the documents:

Documents and Forms - Ongoing Supervision

Guidance on Completion of Form AM 154KB
Acceptable Level 4 Qualifications Table 138.8KB -
AIFMD (Marketing) Rules 2013 304.8KB
AIFMD Rules Consultation Feedback Statement 157KB
AIFMD-Consultation-Paper 175.6KB
CISI Presentation 25 June 2015 - GFAS - Qualified & Competent 521.3KB
Commission response to the second GFAS consultaton 782.5KB
Consultation Paper on Guidance Notes for Pricing controls in respect of Open Ended Collective Investment Schemes 45.7KB
Consultation Paper on The AIFMD Rules, 2013 419KB
Corporate Governance Assurance Statement 11.3KB
Enforcement Consultation Paper - Discretionary Penalties 286.1KB
Excerpt of the German Investment Code (KAGB) - Convenience Translation 233.7KB
Feedback to the Consultation on the Implentation of the Guernsey Financial Advice Standards 149KB
Finance Industry and Policy Working Party Review of Investment Sector Legislation and Regulation 1.5MB
Form AM 162.5KB
Form FA 2015 (Financial Adviser Notification) 15.9KB
Form NST 268.5KB
Form NST - 2016 413.9KB
Form NST Guidance 168KB -
Guidance Note - Manager Led Product.pdf 312.4KB
Guidance notice for notifications to market foreign AIFs to German retail investors- Convenience Translation 547.8KB
IMF 2011: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism 3.5MB
IMF 2011: Financial System Stability Assessment - Update 584.3KB
IMF 2011: Report on Observance of Standards and Codes - FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism 495.6KB
International Negotiations 42KB
Investment Designated Manager Quarterly Return - Form Guidance Notes 214.2KB -
Investment Designated Manager Quarterly Return - Technical Guidance Notes 228.8KB -
Investment Quarterly Return 145 - Guidance Notes 459.1KB
Investor Type and Location Data Workbook 289.9KB -
LCF Discussion Paper 903.4KB
Manager Led Product Consultation Paper 178.5KB
MIFID II Overview Summary.docx 75.7KB
MiFID ii Slides - 16 September 2014 3MB
Pricing controls in respect of Open Ended Collective Investment Schemes 76.1KB
Pricing controls in respect of Open Ended Collective Investment Schemes - Final black-lined version 84.7KB
Pricing controls in respect of Open Ended Collective Investment Schemes - Final version.pdf 76KB
Romania - Art 10 Executive Order no 9-2012.docx 13.2KB
Romania - Art 176 Regulation no 15-2004.docx 11.1KB
Romania - Art 176 Regulation No. 15-2004 20.6KB -
Summary of the Issue of the Harwood Report to the Investment Sector 35.3KB
The AIFMD Rules 2013 (consultation draft) 850.1KB
The Uncertificated Securities (Guernsey) Regulations, 2009 44.9KB -

Thematics

Listed below are the most current up to date Thematic Reviews published by the Commission.

Please click on the individual links to view the reports:

Thematics

Alternative Custody Arrangements of Open Ended Collective Investment Schemes 416.7KB -
Investment Supervision & Policy Division – Governance, Risk and Compliance Fund Managers & Fund Administrators – Thematic review 2017 1MB -
Report on the Thematic Review of Investment and Long-term Insurance Sales Practice 51.3KB -
Report on the Thematic Review of Investment and Long-term Insurance Sales Practice 2017 1.1MB -
Review of the Guernsey Green Fund Regime 763KB -