Articles from 2021

The Commission has today published the feedback to its Consultation Paper on the new Fiduciary Rules, 2021. In June 2021, the Commission published a Consultation Paper making proposals for the necessary revision of the Fiduciary Rules, 2020 in readiness for the coming into force of the revised Fiduciaries Law on 1 November 2021. The key revision proposed related to the re-categorisation of...

On Friday 10 September, the States of Deliberation approved the necessary Ordinances to bring into effect the revision of the five principal Laws dealing with the regulation of financial services business in the Bailiwick as part of the Commission’s Revision of Laws project. The passing of the commencement ordinances means that the following laws will come into effect on 1 November 2021: The...

The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on proposed Banking Supervision (Annual Compliance Return) Rules and Guidance. This Consultation Paper forms part of the implementation of the Revision of Laws Project. The proposed Rules do not implement policy change. A copy of the Consultation Paper along with the draft Rules...

Please be advised that U Tay Za (also known as Tayza, Teza) and the Htoo Group of Companies have been designated under the Myanmar (Sanctions) Regulations 2021 . These regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 (the 2020 regulations), as amended by the Sanctions (Implementation of UK...

Please be advised that the following individuals have been designated under the Chemical Weapons (Sanctions) (EU Exit) Regulations 2019 (the UK regulations); Alexey Alexandrov Vladimir Panyaev Ivan Vladimirovich Osipov Vladimir Mikhailovich Bogdanov Kirill Vasilyev Stanislav Valentinovich Makshakov Alexei Semenovich Sedov . The UK regulations are given effect within the Bailiwick under the...

Please be advised that Mikhail Safarbekovich GUTSERIEV has been designated under the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. Mikhail Safarbekovich GUTSERIEV is subject to an asset freeze and will...

Please be advised that five individuals have been designated under the Global Anti-Corruption Sanctions Regulations 2021. These regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020, as amended. The five individuals are as follows; KUDAKWASHE REGIMOND TAGWIREI, A.K.A KUDA TEODORO NGUEMA OBIANG MANGUE...

Please be advised that one individual has been designated under the Isil (Da’esh) and Al- Qaida (United Nations Sanctions) (EU Exit) Regulations 2019; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. These sanctions are intended to ensure compliance with the relevant UN obligations under UNSCR 2368. The...

Please be advised that three entities have been designated under the Myanmar (Sanctions) Regulations 2021; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 as amended. The following entities have now been added to the consolidated list, which can be found here , and are now subject to an asset freeze: Myanmar...