News

Articles from 2011

Equitable Life Assurance Society - Update February 2011

8th February 2011
​The Independent Commission on Equitable Life Payments (“ICELP”) The ICELP has just released its final advice to the Government “Equitable Life Payments Scheme: achieving a fair allocation and order of payments”. The recommendation is that the available £775m should be allocated to policyholders on a pro rata basis in proportion to the size of the Relative Losses suffered. This equates to 22.4% of...

Solvency II Position Statement

25th January 2011
​The Commission and the States of Guernsey Commerce and Employment Department have jointly issued the following statement. Solvency II Position Statement1. The authorities in Guernsey have no plans to seek equivalence under Solvency II. 2. Guernsey remains committed to meeting internationally accepted regulatory standards as set by the IAIS and endorsed by the G20. In 2011 the IAIS standards will...

IMF Publishes Positive Reports on Guernsey

14th January 2011
​ The IMF has today published six reports arising from its evaluations in March and May 2010 of the Bailiwick’s financial supervision and criminal justice frameworks. The reports commend Guernsey as having financial sector regulation and supervision of a high standard across all sectors, and a legal framework which provides a sound basis for an effective AML/CFT regime, with preventive measures...

IMF Assessment of the Supervision and Regulation of the Financial Sector

14th January 2011
The IMF has today published six reports arising from its evaluations in March and May 2010 of the Bailiwick’s financial supervision and criminal justice frameworks. The reports commend Guernsey as having financial sector regulation and supervision of a high standard across all sectors, and a legal framework which provides a sound basis for an effective AML/CFT regime, with preventive measures...