News

Articles from 2015

Use of Technology in the Due Diligence Process

25th November 2015
​The Commission has issued annexes to the Handbooks for Financial Services Businesses and Prescribed Businesses on Countering Financial Crime and Terrorist Financing ("the Handbooks") on the use of technology in the customer due diligence process. The changes which have been made to the rules and guidance in the Handbooks provide for the use of technologies such as digital signatures and...

MVP Fund Range PCC Limited

23rd November 2015
Further to the Commission’s application for the winding up of MVP Fund Range PCC Limited ("the Fund") under section 410 of the Companies (Guernsey) Law, 2008, as amended (“the Law”) and its subsequent application for an Administrator Order under section 374 of the Law, the Royal Court of Guernsey made an administration order in respect of the Fund on 17 November 2015. Mr Timothy Le Cornu and Ms...

Sanctions Notice - Afghanistan and Somalia

19th November 2015
Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Afghanistan and Somalia. AFGHANISTAN Council Regulation (EU) No 753/2011, as implemented by the Afghanistan (Restrictive Measures) (Guernsey) Ordinance, 2011, the Afghanistan (Restrictive Measures) (Alderney)...

Instruction No. 04/2015 for Financial Services Businesses and Prescribed Businesses

19th November 2015
The Commission is today issuing Instruction Number 04/2015 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 03/2015 issued on 16 July 2015. Ecuador and Sudan have been removed from the list of countries and jurisdictions subject to the Instruction. In addition, Algeria and Iraq have now been added to Part B of the Instruction which lists countries and...

Online Submissions Portal Update - 17th Nov 2015

17th November 2015
​ Yesterday an update was rolled out to the Online Submissions Portal to add new forms and improve functionality. The new forms that have been added and are now available to submit online are: 100. Generic Upload 131. Insurance Intermediary Annual Return 201a. Change to Designated Person (Part 1) 201b. Change to Designated Person (Part 2) 203. Change of Name (Registered) 204. Change of Year End or...

Sanctions Notice - Al-Qaida Network

16th November 2015
Please be advised that the United Nations Security Council has deleted two individuals from the list of persons associated with Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to restrictive measures which include targeted financial sanctions. Further details are available here: http://www.un.org/press/en/2015/sc12118.doc.htm The...

Phishing Email Alert

6th November 2015
​The Commission has been alerted by the National Fraud Intelligence Bureau to a phishing attack on a U.K. financial institution whereby an email containing a JAR file attachment has been sent in order to socially engineer bank staff into unpacking the compressed file. The email states that it has come from the Office of Foreign Assets Control, part of the Department of the Treasury, with the email...

Sanctions Notice - Afghanistan and Al-Qaida Network

5th November 2015
Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime, which are set out below. These developments concern sanctions relating to Afghanistan and the Al-Qaida Network. Afghanistan Please be advised that the United Nations Security Council has amended the list of persons associated with the Taliban maintained under United Nations Security...

Sanctions Notice - Belarus

2nd November 2015
Council Regulation (EC) No 765/2006, as implemented in the Bailiwick by the Belarus (Freezing of Funds) (Guernsey) Ordinance, 2012, the Belarus (Freezing of Funds) (Alderney) Ordinance, 2012 and the Belarus (Freezing of Funds) (Sark) Ordinance, 2012, has been amended by Council Regulation (EU) No 2015/1948 and Council Implementing Regulation (EU) No 2015/1949. The Regulation and the Implementing...