News

Articles from 2018

Qudos Insurance A/S - Policyholder Information

27th December 2018
The Commission has become aware that on the 20 December 2018, Qudos Insurance A/S ("Qudos") of Købmagergade 22, 1st floor, DK-1150 Copenhagen K, Denmark was declared bankrupt by the Maritme and Commerical Court in Copenhagen.Qudos is an insurance firm authorised and regulated by the Danish Financial Services Authority, and was classed as a recognised insurer by the Commission. Recognised insurer...

Sanctions Notice - Burma/Myanmar

24th December 2018
Council Regulation (EU) No 2013/401, as implemented in the Bailiwick by the Myanmar/Burma (Restrictive Measures) (Guernsey) Ordinance, 2013, the Myanmar/Burma (Restrictive Measures) (Alderney) Ordinance, 2013, and the Myanmar/Burma (Restrictive Measures) (Sark) Ordinance, 2017, has been amended by Council Implementing Regulation 2018/2053.The effect of the amendments, which are automatically and...

Hong Kong Representative Office drop-in

20th December 2018
The Commission invites interested parties to a lunchtime drop-in with Jacob Cherry, the Senior Regulatory Adviser in Hong Kong, which will take place on 9 January 2019 between 12.30pm and 2.00pm at the Commission’s Offices. To register your interest, please follow the link on this invitation.

Sanctions Notice - Libya

19th December 2018
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 2018/2004.The Implementing Regulation is available here: Council Implementing Regulation (EU) 2018/2004The effect of...

Revised Forms 142,143,145 & Guidance

18th December 2018
REVISED FORMS 142, 143, 145 & GUIDANCE The Commission has revised the information requested in the annual licensee return 142. Investment Audited Financial Statements and Compliance Returns (Licensee). Specific revisions are also reflected in 143. Investment Audited Financial Statements (Funds) and 145. Investment Quarterly Return.These revisions are in response to feedback from industry, with the...

September Quarter 2018 Statistics Show Increase

17th December 2018
Third Quarter 2018Investment Funds The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 30 September 2018 by £4 billion (1.4%) to £280 billion. For the year since 30 September 2017, total net asset values increased by £11 billion (4.1%). Open-ended Funds Within these totals, Guernsey domiciled open-ended funds increased by £0...

Sanctions Notice - Somalia

12th December 2018
Council Regulation (EU) 356/2010, as implemented by the Somalia (Restrictive Measures) (Guernsey) Ordinance, 2012, the Somalia (Restrictive Measures) (Alderney) Ordinance, 2012 and the Somalia (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Implementing Regulation (EU) 2018/1933.The Implementing Regulation is available here:Council Implementing Regulation (EU) 2018...

Sanctions Notice - South Sudan

12th December 2018
Council Regulation (EU) 735/2015, as implemented in the Bailiwick by the South Sudan (Restrictive Measures) (Guernsey) Ordinance 2015, the South Sudan (Restrictive Measures) (Alderney) Ordinance 2016 and the South Sudan (Restrictive Measures) (Sark) Ordinance 2015, has been amended by Council Implementing Regulation (EU) 2018/1934.The Implementing Regulation, which is automatically and immediately...

Sanctions Notice - Ukraine

11th December 2018
Council Regulation (EU) 269/2014, as implemented by the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Guernsey) Ordinance 2014, the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Alderney) Ordinance 2014 and the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Sark) Ordinance 2014, has been amended by Council Implementing Regulation (EU) No 2018/1929.The...

Instruction No. 03/2018 for Financial Services Businesses and Prescribed Businesses

7th December 2018
The Commission is today issuing Instruction Number 03/2018 for Financial Services Businesses and Prescribed Businesses, replacing and repealing Instruction No. 02/2018 issued on 3 August 2018.Changes to Instruction No. 03/2018 include the addition of The Bahamas, Botswana and Ghana. Further details in respect of the inclusion of these three jurisdictions can be found within Part B of the...