Please be advised that an asset freeze and travel ban have been imposed on two peopleand one entity under the EU’s cyber sanctions regime for their involvement in the cyber-attack on the German Parliament (Deutsche Bundestag) in April and May 2015. The two people who have been designated are Dmitry Sergeyevich Badin and Igor Olegovich Kostyukov. The EU regulation can be found here: Council...
Articles from 2020
On 12 th October 2020 The Bank of England (“BoE”) published a letter that it had sent to a selection of UK financial services firms. This letter requested feedback in relation to any possible operational implications that firms would encounter if the Bank of England’s Monetary Policy Committee (“MPC”) implemented a zero or negative policy rate. A copy of the letter is available here. Although the...
Bank of England Interest Rates
Please be advised that the EU Council has imposed an asset freeze and travel ban against seven individuals under its Syria sanctions regime. Tala AL –BARAZI, Loubana MOUCHAWEH, Darem TABA'A, Ahmed SAYYED, Tammam RA'AD, Kinan YAGHI and Zuhair KHASIM have been designated under Council Implementing Regulation (EU) 2020/1505. The EU Regulation is implemented in the Bailiwick by the Syria (Restrictive...
Sanctions Notice - Syria Sanctions
Please be advised that the EU has listed 6 Russian officials and 1 entity under its chemical weapons sanctions regime. The 7 persons have been designated under Council Implementing Regulation (EU) 2020/1480 for their involvement in the assassination attempt on Alexei Navalny in August 2020. The EU Regulation is implemented in Guernsey by the Chemical Weapons (Restrictive Measures) (Guernsey)...
Sanctions Notice - Chemical Weapons Sanctions
Please be advised that the EU Council has imposed an asset freeze and travel ban against one individual under its Libya sanctions regime. Yevgeniy Prigozhin has been designated under Council Implementing Regulation (EU) 2020/1481. The EU Regulation is implemented in Guernsey by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016. MEASURES WHICH SHOULD BE TAKEN All businesses must check...
Sanctions Notice - Libya Sanctions
Second Quarter 2020 Guernsey Funds The total net asset value of Guernsey funds has decreased in Sterling terms during the last quarter by £6.4 billion (-2.7%) to £226.8 billion. Over the past year, total net asset values have decreased by £0.9 billon (-0.4%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds increased over the quarter by £3.1 billion (6.8%) to £47.8...
June Quarter 2020 Investment Statistics
Please be advised that the United Nations Security Council Committee has added one individual to the ISIL (Da'esh) and Al-Qaida Organisations financial sanctions regime. Jamal Hussein Hassan Zeiniye has been added to the consolidated list and is subject to an asset freeze. Under section 13 of the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law), this amendment is deemed to have...
Sanctions Notice - ISIL (Da'esh) and Al-Qaida
Please be advised that two individuals and four entities have been added to the list of sanctioned entities under the EU’s Russia sanctions targeting “actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine”; these are implemented by Council Implementing Regulation (EU) 2020/1367 and are implemented within the Bailiwick by the Territorial Integrity etc...
Sanctions Notice - Russia-Ukraine
The Guernsey Financial Services Commission has today issued a consultation paper seeking views from interested parties on proposed amendments to the Insurance Business (Solvency) Rules, 2015. The proposed amendments would introduce a “Green Discount”, which would reduce the capital requirements applicable to the green fixed income assets of life insurers. Additional measures would be put in place...