Articles from 2008

​THE AUTHORISED CLOSED-ENDED INVESTMENT SCHEMES RULES 2008 (“the Authorised Closed-Ended Rules”) THE REGISTERED COLLECTIVE INVESTMENT SCHEME RULES 2008 (“the Registered CIS Rules”) PROSPECTUS RULES 2008 (“the Prospectus Rules”) (together “the Rules”) EXPLANATORY NOTE AND FEEDBACK ON CONSULTATION Earlier this year the Commission posted on its website drafts of the Rules for consultation. The...

​ Outsourcing in the Banking Sector in the Bailiwick of Guernsey - A Thematic Report issued by the Guernsey Financial Services Commission

Guidance on Liquidity Risk Management

​The Guernsey Financial Services Commission (“ the Commission") has received a significant number of enquiries relating to the position of Landsbanki Guernsey Limited (in administration) and a number of issues have been the subject of comment by the local media. On the 26 November 2008 the Guernsey Press published articles containing useful summary background information and which specifically...

On 24 November the States of Guernsey Policy Council signed the following amendment regulations which come into force on 1 December 2008: The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (Amendment of Schedules 1 and 2) Regulations, 2008 The Registration of Non-Regulated Financial Services Business (Bailiwick of Guernsey) Law, 2008 (Schedule 1 Amendment) Regulations, 2008...

PRESS RELEASE The Commission is pleased to announce that it has been working closely with Lloyd’s to identify an appropriate structure which will facilitate the growth of Lloyd’s business in Guernsey. To this end, new regulations were approved by the States of Guernsey on 3 November and signed by the Commission’s Chairman on 7 November. The new framework will allow Lloyd’s syndicates to establish...

​Background Following initial discussions with the UK Financial Services Authority (“FSA”) and HM Treasury in 2006 the Investment Business Division initiated a project to revise the existing Guernsey Class A open-ended fund rules to bring them into line with more liberal developments in the European Union. The revised rules, based on the UK’s New Collective Investment Scheme Sourcebook (“UK COLL...

​ Equitable Life Update October 2008 (PDF)

​ Business Continuity Planning and Disaster Recovery Management in the Banking Sector of the Bailiwick of Guernsey - A Thematic Report issued by the Guernsey Financial Services Commission