Articles from 2017

The Commission is today issuing Instruction Number 03/2017 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 02/2017 issued on 10 April 2017. Afghanistan and Lao PDR have been removed from the list of countries and jurisdictions subject to the Instructions.  Further detail about the removal of Afghanistan and Lao PDR can be found within the Instructions. The…

As part of the Commission's regularly scheduled server maintenance, both the Online Submissions Portal and PQ Portal will be unavailable between 22nd and 23rd July 2017. If you have any queries around accessing the Online Submissions Portal or the PQ Portal, please contact the Online Services Help Desk - support@gfsc.gg

Council Regulation (EU) No 2016/44, as implemented by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016, the Libya (Restrictive Measures) (Alderney) Ordinance, 2016 and the Libya (Restrictive Measures) (Sark) Ordinance, 2016, has been amended by Council Regulation (EU) No 2017/1325. The amending Regulation is available here:    Council Regulation (EU) 2017/1325 The effect of the…

This Notice is issued further to a previous Sanctions Notice issued in relation to the addition of one entity (the listed person) to the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that a corresponding change has now been made to the list maintained by the European Union under Council Regulation…

This Notice is issued further to a previous Sanctions Notice issued in relation to the deletion of three individuals from the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that a corresponding change has now been made to the list maintained by the European Union under Council Regulation (EC) No…

The United Nations Security Council has added one entityl (“the listed person”) to the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267.  All persons on the UN list are subject to restrictive measures which include targeted financial sanctions.  Further information is available here…

Council Regulation (EC) No 36/2012, as implemented by the Syria (Restrictive Measures) (Guernsey) Ordinance, 2012, the Syria (Restrictive Measures) (Alderney) Ordinance, 2012 and the Syria (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Implementing Regulation (EU) No 2017/1241. The Implementing Regulation is available here: Council Implementing Regulation…

The Guernsey Financial Services Commission has recently held its fourth annual seminar for insurance intermediaries. This year’s event was designed to assist local intermediaries who advise the retail public and local businesses on general insurance. The seminar addressed the issue of "under insurance and other current themes in the insurance broking profession" and was attended by some 50…

The Investment Supervision and Policy Division has been reviewing the Prospectus Rules 2008 and the Registered Collective Investment Scheme Rules 2015.   This review has highlighted the need to change the Prospectus Rules to ensure that any new circulation of a Prospectus is registered with the Commission.  In addition the proposed changes to the Registered Collective Investment Scheme Rules…