News

Please be advised that the United Nations Security Council has added two entries to the list of individuals and entities associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267.  All entities on the list are subject to restrictive measures which include targeted financial sanctions.  Further details are available here: …

Please be advised that the United Nations Security Council has amended one entry on the list of individuals and entities associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267.  All entities on the list are subject to restrictive measures which include targeted financial sanctions.  Further details are available here: …

The list of persons subject to restrictive measures under Council Regulation 2580/2001 (the EU Regulation) has been amended by Council Implementing Regulation (EU) No 2019/1337, and Council Implementing Regulation (EU) 2019/24 has been repealed. The effect of the amendment is to update the information relating to the persons, groups and entities on the list.  The Implementing Regulation is…

Council Regulation (EU) No 2016/44, as implemented by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016, the Libya (Restrictive Measures) (Alderney) Ordinance, 2016 and the Libya (Restrictive Measures) (Sark) Ordinance, 2016, has been amended by Council Regulation (EU) No 2019/1292.  The Implementing Regulation is available here:  Council Implementing Regulation (EU) 2019/1292  The…

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 as amended (“the Financial Services Commission Law”); The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended (the “Fiduciaries Law”); The Protection of Investors (Bailiwick of Guernsey) Law, 1987 as amended (the “POI Law”); The Insurance…

Council Regulation (EU) 735/2015, as implemented in the Bailiwick by the South Sudan (Restrictive Measures) (Guernsey) Ordinance 2015, the South Sudan (Restrictive Measures) (Alderney) Ordinance 2016 and the South Sudan (Restrictive Measures) (Sark) Ordinance 2015, has been amended by Council Implementing Regulation (EU) 2019/1208.  The Implementing Regulation, which is automatically 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 Implementing Regulation 2019/1207.  The effect of the amendments, which are automatically and…

The Commission is today issuing Instruction No. 02/2019 for Specified Businesses, replacing and repealing Instruction No. 01/2019 for Specified Businesses issued on 1 April 2019.  Changes since Instruction No. 01/2019 include the addition of Panama and the removal of Serbia.  Further details in respect of these jurisdictions can be found within Part B of the Instruction.  A copy of Instruction…

“GFiN – one year on” A reflection of the GFiN’s achievements and challenges since inception, and amibitions for the future   The Guernsey Financial Services Commission is pleased to announce the publication of the Global Financial Innovation Network’s (“GFIN”) “One Year On” report.  The GFiN is a network of international regulators and related organisations committed to…

Financial Crime Risk Return 2019  The Financial Crime Risk Return for the reporting period 1 July 2018 to 30 June 2019 (the “2019 Return”) is available for completion on the Online Submissions Portal for all firms required to complete the 2019 Return. The submission deadline is 31 October 2019.  There are no changes to the fields within the 2019 Return, however, please note that page 13 of…