Articles from 2016

​Investment Funds The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 31 March 2016 by £10.4 billion (4.56%) to £238 billion. For the year since 31 March 2015, total net asset values increased by £15.8 billion (7.1%) . Within these totals Guernsey domiciled open-ended funds increased by £1.4 billion (3.58%) over the quarter...

​As of 1 July 2016 the Financial Crime Risk Return (“the FCR Return”) will become available for all firms to complete on the Commission’s Online Submissions Portal. The Commission would remind all licence holders and registered businesses that the deadline for completion of the FCR Return is 31 October 2016. No changes have been made to the FCR Return and the manner of completion remains the same...

A Thematic Report on Financial Crime Training is now available: Thematic Report

​One of the Commission’s Senior Decision Makers, Andrew Stewart QC, has been installed as a Senator of the College of Justice in Scotland and Lord Commissioner of Justiciary, taking his place on the bench with the judicial title of Lord Ericht. The Lord Justice Clerk, Lady Dorrian, presided over the ceremony in the First Division courtroom in the Parliament House. Lord Ericht is a former president...

On 11 May 2016 the Royal Court of Guernsey handed down its final judgment in the appeal brought by Bordeaux Services (Guernsey) Limited & Ors v Guernsey Financial Services Commission. The Commission has considered this ruling carefully and believes that some key messages are contained within the judgment that are important both for Financial Services Business in the Bailiwick, and also for the...

Invitation: Non-Regulated Financial Services Businesses (“NRFSBs”) Seminar Date: Monday 20 June 2016 Venue: Les Cotils in The Harry Bound Room Time: 2.00 – 3.00pm The purpose of the event is to provide businesses registered as an NRFSB or those considering NRFSB registration, with an opportunity to receive feedback on the progress the GFSC has made, and our future plans for firms registered as...

The Online Submissions Portal will be undergoing planned maintenance from 10.00am on Saturday 28th May, which will continue over the bank holiday weekend. During this time the Portal will be temporarily unavailable. We apologise for any inconvenience caused, we expect to be back online by the morning of Tuesday 31st.

The Commission has withdrawn the requirement for AIRs who provide advice on long term insurance business to attain the Guernsey Insurance Certificate ("GIC"). This decision has immediate effect. The GIC was a mandatory qualification required to be attained by all AIRs who advise on long term insurance business, both in respect of the provision of advice on permanent health, credit life assurance...

​The First Quarter 2016 Banking Sector Activity is available via the following link: Banking Statistics