Articles from 2018

The Commission has today issued a consultation paper making proposals in respect of Regulations applicable to insurance managers and intermediaries licensed under the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002. The Approved Assets Regulation Consultation Paper proposes amendment to the Insurance Managers and Insurance Intermediaries (Approved Assets)...

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 Regulation 2018/647. The effect of the amendments, which are automatically and immediately...

Council Regulation (EU) No 753/2011, as implemented by the Afghanistan (Restrictive Measures) (Guernsey) Ordinance, 2011, the Afghanistan (Restrictive Measures) (Alderney) Ordinance, 2011 and the Afghanistan (Restrictive Measures) (Sark) Ordinance, 2011, has been amended by Council Implementing Regulation (EU) No 2018/648. The amendment gives effect to a recent change to the list maintained under...

The Commission is pleased to release a consultation paper on the development of a Guernsey Green Fund. Closing date is 1 June 2018. A copy of the consultation paper and the draft rules can be found here: [Consultation Paper] [Rules] The Commission would be grateful for any representations and would draw your attention to the list of questions on page 15 of the consultation paper. I would like to...

Council Regulation (EU) No 2017/1509, as implemented in the Bailiwick by the North Korea (Restrictive Measures) (Guernsey) Ordinance, 2017, the North Korea (Restrictive Measures) (Alderney) Ordinance, 2017, and the North Korea (Restrictive Measures) (Sark) Ordinance, 2017, has been amended by Council Implementing Regulation 2018/602. The effect of the amendments, which are automatically and...

The Commission has been asked to publish the attached link to an Advisory which has been issued by the UK National Cyber Security Centre: https://www.ncsc.gov.uk/alerts/russian-state-sponsored-cyber-actors-targeting-network-infrastructure-devices

The Commission expects a high volume of returns to be processed in the Online Submission portal during April. As a result, you may experience delays as the month-end deadline date approaches. Thank you for your patience at this busy time.

Authorisations, Banking, Fiduciary, Insurance, Investment To assist firms in notifying the Commission of a Change of Controller, as required under the various regulatory laws, sector-specific application guidance together with the relevant Change of Controller application form (CofC 2018) is now available on the Commission's website under the Authorisations application menus for each industry...

In 2014, the Commission established a panel of Queen’s Counsel who sit as ‘Senior Decision Makers’ and determine the outcome of the Commission’s major enforcement cases. A Senior Decision Maker, sitting alone, hears those cases involving findings of serious regulatory shortcomings against a licensee and/or individual directors and where those findings are contested. As part of the process Senior...