News

Articles from 1998-2011

Eurozone Risk Management

23rd December 2011
The Commission has written to financial services businesses in connection with Eurozone risk management. The Commission has noted that continuing action by governments in the Eurozone might not achieve the desired effect of improving financial stability. One or more Eurozone members may exit from Euro currency union, and reversion to local currencies is possible. Accordingly, the Commission has...

Insurance Papers from the Commission

21st December 2011
The Commission has recently published several papers on its website. The papers are as follows: 1. Review of Own Solvency Capital Assessments of Life and Non-Life Licensees - This paper is an objective assessment of selected OSCAs and should be of interest in particular to Non-Executive Directors. 2. Technical Note on Stress Testing - Although the Commission has previously carried out stress...

New Fee Regulations for 2012

15th December 2011
The following Regulations are now available to view and will become operational with effect 01 January 2012: Financial Services Commission (Fees) Regulations 2011

2012 Investment Division Annual Fees

7th December 2011
​Please note that invoices for 2012 annual fees will be issued in December 2011 and therefore payment is expected for the following: Current Licensees Current Open-ended Schemes ( and their underlying cell, classes, sub-funds) Current Closed-ended Schemes Current Non-Guernsey Schemes Exempt Funds - authorised after 2009 If any of the above will not continue in 2012 and therefore should not be...

Third Quarter 2011 Investment Statistics

5th December 2011
​ GUERNSEY FUNDS IMPACTED BY UNCERTAINTY IN EUROZONE AS TOTAL FUNDS UNDER MANAGEMENT DECREASES OVER QUARTER Investment Funds The uncertainty in the Eurozone and subsequent upheaval in the international markets appears to have impacted on Guernsey Funds with the net asset value of total funds under management and administration decreasing by £3.4 billion (-1.2%) over the quarter ended 30 September...

GFSC signs Statement of Cooperation with the China Banking Regulatory Commission

2nd December 2011
China’s banking authority, the China Banking Regulatory Commission, and the Guernsey Financial Services Commission have signed a Statement of Cooperation, which provides a framework for broader and closer regulatory cooperation between the two supervisory authorities. The Statement has been signed in the spirit of mutual cooperation and information exchange seen as crucial by the G20 countries and...

IBD Late Accounts Reminder

1st December 2011
​Quarterly reminder regarding the Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010 (“the Regulations”) Please note the requirements as set out under the Regulations, a copy of which can be found here. If the relevant entity is late in submitting annual returns by the mandated deadline* they will be subject to the penalties as set out...

Date announced for GFSC 2012 Industry Presentations

28th November 2011
​ The Guernsey Financial Services Commission has announced that its third annual Industry Presentations will take place on 23 November 2012. The guest speaker at the event will be Digby, Lord Jones of Birmingham, Kt., ex-Director General of the Confederation of British Industry and former Minister for Trade and Investment, who is well placed to examine the issues that have an impact on the finance...