News

Articles from 2021

Commission staff to work from home

25th January 2021
The Commission confirms that with effect from Monday 25 January 2021, the vast majority of its staff will be home working. The Commission’s Authorisations team remains open for business. The switchboard will continue to operate during normal office hours and callers will be asked by the receptionist to provide their contact details in order that a member of staff can call or email them back. Firms...

Engagement on the draft amendments to Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002 (the “Insurance Managers and Insurance Intermediaries Law”)

15th January 2021
Introduction On the 30th of October 2015 the States of Deliberation approved the Policy Letter submitted by the Policy Council on the Revision of the Financial Supervisory and Regulatory Laws. Representatives of the States of Alderney and the Chief Pleas of Sark has previously indicated their support for the proposals which followed a public consultation process, together with the Law Officers of...

AML/CFT Handbook - Appendix I Update

12th January 2021
The Commission has today updated Appendix I to the Handbook as a result of the FATF's announcement that it has removed The Bahamas from its list of jurisdictions under increased monitoring. The Bahamas has strengthened the effectiveness of its AML/CFT system and addressed related technical deficiencies to meet the commitments in its action plan and remedy the strategic deficiencies identified by...

Sanctions Notice - gov.gg website update

4th January 2021
UPDATE ON CHANGES RELATING TO BREXIT This Notice follows on from earlier Notices issued in relation to the changes to the implementation of sanctions resulting from Brexit. As previously advised, with effect from 31st December 2020 the UK introduced its own sanctions regimes that repeal and replace EU sanctions regimes, and the Policy & Resources Committee has made the Sanctions (Implementation of...

Sanctions Notice - Brexit (2)

4th January 2021
UPDATE ON CHANGES RELATING TO BREXIT This Notice follows on from an earlier Notice issued in relation to the changes to the implementation of sanctions resulting from Brexit. The UK has now introduced its own sanctions regimes that repeal and replace EU sanctions regimes. The UK completed the drafting of its sanctions regimes earlier this week and they came into force at 11pm on 31st December 2020...

Sanctions Notice - Brexit (1)

4th January 2021
CHANGES RELATING TO BREXIT Please note the following changes to the legal framework for implementing sanctions measures in the Bailiwick as a result of Brexit. These changes come into force at 11pm on 31st December 2020. Overview The Policy & Resources Committee has made the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 (the 2020 regulations). A copy...