The Guernsey Financial Services Commission has issued today two discussion papers seeking views from interested parties on proposals concerning rules to be made following the States of Deliberation’s approval of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the "2020 Fiduciaries Law") and the Protection of Investors...
Articles from 2020
Please be advised that the UN Security Council Committee concerning the Central African Republic has added Bi Sidi Souleman to its sanctions list, on the basis of his leadership of the CAR militia group, Retour, Réclamation, Réhabilitation (3R). 3R is said to have “killed, tortured, raped, and displaced civilians, and engaged in arms trafficking, illegal taxation activities, and warfare with other...
Sanctions Notice - Central African Republic
The Commission today launches a consultation paper on proposals for increasing the licence fees paid by firms (please click here for a copy of the consultation paper). The consultation period will close on Tuesday 15 September. The proposals are for an increase of 2.1% across all sectors, based upon Guernsey’s RPI, together with the introduction of a modest fee for fast track applications of £500...
Commission consults on Fees for 2021
Please be advised that under Council Implementing Regulation (EU) 2020/1124, the EU has added French national Bryan D’Ancona to the EU’s autonomous sanctions regime, which targets those determined to be associated with or providing support to Al-Qaida and ISIL/Da’esh. The EU regime is implemented in Guernsey by the Al-Qaida (Restrictive Measures (Guernsey) Ordinance, 2013. MEASURES WHICH SHOULD BE...
Sanctions Notice - Al-Qaida / ISIL (Da'esh) Sanctions
Please be advised that an asset freeze and travel ban have been imposed on six people and three entities under the EU’s cyber sanctions regime. These are the first designations to be made under the regime. Those listed are said to be responsible for or involved in cyber-attacks originating outside the EU with significant or potentially significant effect, which constitute an external threat to the...
Sanctions Notice - Cyber Crime
The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 (the “Financial Services Commission Law”) The Insurance Business (Bailiwick of Guernsey) Law, 2002 (the “Insurance Law”) Stephen Paul Dewsnip (“Mr Dewsnip”) On 27 July 2020, the Guernsey Financial Services Commission (the “ Commission”) decided: 1. To impose a financial penalty of £7,000 under section 11D of the Financial Services...
Stephen Paul Dewsnip
The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 (the “Financial Services Commission Law”) The Insurance Business (Bailiwick of Guernsey) Law, 2002 (the “Insurance Law”) Global Insurance Group Limited (“GIGL”) Shane Younger (“Mr Younger”) Christopher Percival (“Mr Percival”) On 10 July 2020, the Guernsey Financial Services Commission (the “ Commission”) decided: 1. To impose a...
Shane Younger and Christopher Percival
The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 (the “Financial Services Commission Law”) The Insurance Business (Bailiwick of Guernsey) Law, 2002 (the “Insurance Law”) Global Insurance Group Limited (“GIGL”) Christopher Schofield (“Mr Schofield”) Andrew William Robert (“Mr Robert”) On 8 June 2020, the Guernsey Financial Services Commission (the “ Commission”) decided: 1. To...
Global Insurance Group Limited, Christopher Schofield, Andrew William Robert
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. Noor Wali Mehsud 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 been made to the...