News

Last week, Startup Guernsey hosted Guernsey's first Data Conference to explore how big data and its management is changing the world as well as what it means for the future of local businesses in Guernsey.  The conference was sponsored by the States of Guernsey, PwC, JT and Bedell Cristin. The Commission’s Director General, William Mason, was the key note speaker at the conference. Other…

This morning the Policy & Resources Committee approved “The Investor Protection (Designated Countries and Territories) (Bailiwick of Guernsey) Regulations, 2017” (“the regulations”). The regulations are in force from today.  These regulations designate certain countries and territories for the purposes of s29(1)(cc) of the Protection of Investors (Bailiwick of Guernsey) Law 1987…

This Notice is issued further to previous Sanctions Notices issued in relation to the updating of information relating to five individuals (the listed persons) on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that corresponding changes have now been made to the list maintained by the European…

HM Treasury has renewed the final designation of two entities under the Terrorist Asset-Freezing etc. Act 2010. The entities therefore remain Designated Persons for the purposes of the Act. Details of the individuals are available here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/652076/TAFA_Renewal_Notice.pdf Persons who are the subject of a designation under and…

Council Regulation (EU) No 2017/1509, as implemented in the Bailiwick by the North Korea (Restrictive Measures) (Guernsey) Ordinance, 2017, the North Korea (Restrictive Measures) (Alderney) Ordinance, 2017, and the North Korea (Restrictive Measures) (Sark) Ordinance, 2017, has been amended by Council Regulation (EU) No 2017/1836, Council Regulation (EU) No 2017/1858 and Council Implementing…

As part of our ongoing commitment to World Investor Week, a global campaign promoted by IOSCO to raise awareness about the importance of investor education and protection, the GFSC is pleased to publish a Pensions Helpsheet, which can be found here. The helpsheet highlights a number of areas which consumers should focus on when considering their pensions arrangements. Gillian Browning, Director…

The Commission wishes to remind all financial services and prescribed businesses (with the exception of personal fiduciary licensees) that the Financial Crime Risk Return (“the Return”) is due for submission by 31 October 2017. The Return can be found through the Commission’s Online Submissions Portal, located here: https://submit.gfsc.gg/ Further information on the background to the…

World Investor Week 2017 World Investor Week is a global campaign promoted by IOSCO to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these two critical areas. From 2-8 October 2017, IOSCO securities regulators and other IOSCO members on six continents will provide a range of activities, such as launching…

Representatives of the Commission met today in Sark with representatives of Sark’s Chief Pleas. The meeting had been arranged to enable the Commission to provide updates on a variety of regulatory matters including the recent introduction of pensions’ regulation, the Commission’s experience of innovation within the financial services industry and the Commission’s general approach to…

“The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) (Pensions Amendment) (No.2) Regulations, 2017 (“the Regulation”) has been approved by the Policy and Resources Committee amending the definition of “gratuity scheme” contained within section 2(1)(e) of the Regulation of Fiduciaries, Administration Businesses and Company…