News

Articles from 2023

Sanctions Notice - Russia

6th December 2023
Please be advised that 25 individuals and 20 entities have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and are now subject to an asset freeze and trusts services sanctions . Details of the individuals and entities concerned are available here: Notice_Russia_061223.pdf (publishing.service.gov.uk) The individuals and entities referred to above appear...

Sanctions Notice - Belarus

6th December 2023
Please be advised that the following entity JSC Display Design Bureau (Group ID: 16276) has been designated under the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (the UK regulations), and is subject to an asset freeze. The entity referred to above appears on the consolidated list, which can be found here . The UK regulations are given effect within the Bailiwick under the Sanctions...

Distribution of Annual Fee Invoices

4th December 2023
In early January, the Commission will be distributing 2024 annual fee invoices using the generic email address that we hold on record for each licensee and registrant. If you wish to check which email address the Commission holds for your firm, please contact [email protected] quoting the entity name and GFSC reference number, which can be found on our website ( Regulated Entities and Registered...

Sanctions Notice - Libya

1st December 2023
Please be advised that an amendment has been made to the details in respect of Osama Al Kuni Ibrahim (Group ID: 14142) Abd Al-Rahman Salim Ibrahim Al-Milad (Group ID: 13676) Mohammed Al Amin Al-Arabi Kashlaf (Group ID: 13675) Saadi Qadhafi (Group ID: 11648) Sayyid Mohammed Qadhafi (Group ID: 11646) who are currently designated under the Libya (Sanctions) (EU Exit) Regulations 2020 (the UK...

Sanctions Notice - Russia

1st December 2023
Please be advised that details in respect of Mihajlo Perencevic (Group ID: 15424) who is currently subject to an asset freeze and trusts services sanctions have been amended. The individual referred to above appears on the UK’s consolidated list, which can be found here . The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of...

Explanatory Note - Surrender of the Authorisation or Registration of Collective Investment Schemes

30th November 2023
The Commission has today issued an Explanatory Note regarding the surrender of the authorisation or registration of collective investment schemes. The note clarifies the typical circumstances under which the Commission will consider granting consent to the surrender of a scheme’s authorisation or registration, as required under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (“the...

Sanctions Notice - Iran (Nuclear Proliferation)

27th November 2023
Please be advised that entry in relation to Ya Mahdi Industries Group (Group ID: 16157) has been amended under the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 (the UK regulations). The entity referred to above remains subject to an asset freeze and appear on the consolidated list, which can be found here . The UK regulations are given effect within the Bailiwick under the Sanctions...

Commission Fees for 2024

22nd November 2023
The Commission plans to increase licence fees paid by firms from 1 January 2024 by 6.3%. 1% less than the figure upon which it consulted. On 26 July 2023, the Commission issued a consultation paper on the fee rates and administrative penalties to apply from 1 January 2024, which contained the following proposals: an overall proposed increase in fees of 7.3%, with the exception of fees introduced...

Third Quarter 2023 Investment Statistics

20th November 2023
Third Quarter 2023 Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £288.8 billion, an increase over the quarter of £2.8 billion (+1.0%). Over the past year, total net asset values have decreased by £13.9 billon (-4.6%). Closed-ended Schemes Within these totals, Guernsey closed-ended funds increased over the quarter by just under £2.4 billion (+1.0%) to £239...