News

Articles from 1998-2010

Fourth Quarter 2004 Investment Statistics

7th February 2005
Total investment funds under management and administration in the Bailiwick increased by £4.5 billion over the quarter ended 31 December 2004. This represented growth of 6.5% over the quarter and 30.6% over the calendar year. Within that total, open-ended funds grew in value by £2.1 billion to a total of £33.7 billion. This represented 6.7% growth over the quarter and a remarkable 52% growth over...

Public Announcement - Qualifying Investor funds Regime

7th February 2005
​In the second half of 2004, the Guernsey Financial Services Commission announced that it was consulting on proposals to streamline the approval process for both open and closed ended funds aimed at professional, experienced and knowledgeable investors. Following wide spread support for the proposals set out in the Commission's paper, the Commission has today introduced the new regime with...

Equitable Life Assurance Society Limited- Parliamentary Ombudsman

11th January 2005
​"Recently the Parliamentary Ombudsman (PO) has reopened her enquiry into Equitable. The Commission is currently in correspondence with the PO to clarify the position of Guernsey policyholders in relation to this enquiry." Peter Neville, Director General, GFSC The Commission will advise of any further developments via this Website.

GFSC and Firms Announce Details of Split Capital Investment Trust Settlement

24th December 2004
INTRODUCTION The GFSC has been conducting an investigation into the activities of certain Guernsey-based fund managers and brokers within the split capital investment trust ("splits") sector between September 2000 and February 2002. The United Kingdom Financial Services Authority ("FSA") and the Jersey Financial Services Commission have also been conducting their own investigations into the splits...

Application and Annual Licence Fees for 2005- all Licensed Insurance Managers and International Insurers

20th December 2004
​TO: ALL LICENSED INSURANCE MANAGERS AND INTERNATIONAL INSURERS We are pleased to announce a schedule of regulatory fees for 2005, and a comparison with those for 2004, available here as a PDF format file (12Kb). Where possible we have attempted to maintain or reduce the fee level next year, and where increases have been applied they have been limited to local inflation rates. While providing this...

Application and Annual Licence Fees for 2005- Insurance Intermediaries

24th November 2004
​I refer to previous correspondence from the Commission regarding the above and write to advise you that, after consideration of all the feedback received from licensees during the consultation period, the licensing fees to be charged with effect from 1 January 2005 are available here as a PDF format document (10Kb). You will notice that, as a result of feedback there have been some alterations to...

Third Quarter 2004 Investment Statistics

16th November 2004
Total investment funds under management and administration in the Bailiwick increased by £5.5bn (8.6%) over the quarter to reach a total of £69.1bn. Over the year to end-September the total increased by £12.8bn (22.6%). Within the total, the value of open-ended funds increased most strongly, rising over the quarter by £3.2bn (11.2%) to £31.6bn and by £9.4bn (42.5%) over the year. After a period of...

Streamlined Fund Authorisation regime

14th October 2004
The Guernsey Financial Services Commission has today commenced public consultation on a proposal to streamline the approval process for both open and closed-end funds aimed at professional, experienced and knowledgeable investors. The main thrust of the proposal is that the Commission will grant the required fund approval within three working days, provided that an appropriately licensed Guernsey...