Articles from 1998-2010

Financial Sanctions - Zimbabwe - 21 March 2002

22nd March 2002
​Further to the Commission's notice of 28 February, you should be aware that on 18 March the Zimbabwe (Export of Goods & Freezing of Funds) (Guernsey) Ordinance, 2002, came into force. The effect of the Ordinance is to impose restrictive measures, in particular the freezing of funds, financial assets and economic resources, belonging to those members of the Government of Zimbabwe and natural or...

Financial Sanctions - Zimbabwe - 28 February 2002

28th February 2002
​ The Bank of England issued a news release on 21 February 2002 regarding EC Regulation 310/2002 which relates to financial sanctions in respect of various members of the Government of Zimbabwe and persons associated with them. The news release is available via the below link: Those named in...

Crown Dependencies tighten anti-money laundering defences

22nd February 2002
​Joint action by Guernsey, the Isle of Man and Jersey Strong new measures to tighten the Crown Dependencies' anti-money laundering regimes were announced today by the three financial services regulatory Commissions. The Commissions are taking action in concert and will be moving to implement the required changes to laws and guidance to reflect these measures. All three Islands have tough anti...

Financial Services Ombudsman and Deposit Protection Consultation Documents

15th February 2002
​Interested parties are being invited to comment on a consultation document issued by the Commission which recommends the establishment of a deposit protection scheme in Guernsey. Currently, depositors in Guernsey do not have access to such a scheme and, in the event of the failure of a licensed Guernsey bank, they are exposed to the potential loss of their deposits. The introduction of a scheme...

Business from Sensitive Sources Notices 1 to 4

25th October 2001
To the Money Laundering Reporting Officer of all Financial Services Businesses and other interested persons: Business From Sensitive Sources Notice 4 - 22 August 2002 Business from Sensitive Sources Notice 3 - 4 October 2001 Business from Sensitive Sources Notice 2 - 27 July 2000 Business from Sensitive Sources Notice 1 - 18 November 1999 These Notices can be found using this link.

The Offshore Group of Banking Supervisors Mutual Evaluation Report of the Anti-Money Laundering System in Guernsey

28th September 2000
At its annual general meeting in September 2000 the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering ("FATF") and was carried out in 1999 by independent experts from France, Malta...