Articles from 2016

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 Iran, ISIL (Da’esh) and Al-Qaida Network. IRAN Council Regulation (EU) No 267/2012, as implemented in the Bailiwick by the Iran (Restrictive Measures) (Guernsey) Ordinance, 2012, the Iran (Restrictive Measures)...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 as amended ("the Financial Services Commission Law") The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended (“the Fiduciaries Law”) The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 as amended...

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 Iran – Nuclear Proliferation. In recognition of the steps taken by Iran to comply with the Joint Comprehensive Plan of Action agreed 6 months ago with the E3/EU+3, amendments have been made to Council Regulation...

On 15 January 2016 the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) issued its report on the Fourth Assessment on the Bailiwick of Guernsey's Anti-Money Laundering and Combating the Financing of Terrorism controls. The report shows that Guernsey has made major progress against the evolving international...

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 two separate sanctions notices relating to ISIL and the Al-Qaida Network. ISIL (Da'esh) and Al-Qaida Network The United Nations Security Council has deleted one individual from the list of persons associated with ISIL (Da’esh) and Al...

A Thematic Report on Fiduciary Decision Making in Respect of Assets Under Trust is now available on the Thematics section of the Commission's website.

Investment Designated Manager Statistical Quarterly Return 141a and 141b / Form NST Further to the Commission's news release of 30 December 2015, Returns 141a and 141b will not be released for use for the quarter ending 31 December 2015. Instead for the quarter ending 31 December 2015 the existing Form NST should be completed and submitted. The deadline for submission still stands as stated in our...

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 ISIL and the Al-Qaida Network, and the Central African Republic. ISIL (DA’ESH) AND AL-QAIDA NETWORK Please be advised that the United Nations Security Council has amended the details in respect of one individual (...

Please be advised that HM Treasury has issued a guidance note on operating within the UK’s counter-terrorism legal framework, which includes sanctions measures. Although the guidance note is aimed at Non-Governmental Organisations (NGOs) it is relevant to other sectors. Like other guidance on sanctions and related measures previously issued by HM Treasury, the guidance note is neither applicable...