Articles from 2024

The States of Guernsey has published a report concerning the Bailiwick of Guernsey's money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks from legal persons and legal arrangements. The report follows, and supplements, the Bailiwick of Guernsey’s second National Risk Assessment, also known as NRA2, which was published in December 2023. When NRA2...

The Commission has today issued its report on the Thematic Review of Governance, Risk and Compliance Controls to Counter Financial Crime – Estate Agency, Legal and Accountancy Services. Towards the end of 2023 the Commission’s Financial Crime Division undertook a thematic review of the financial crime controls implemented within businesses registered with the Commission as prescribed businesses...

The Commission has today issued a feedback paper following the consultation on disclosure rules for insurance intermediaries issued in 2023. The Commission is grateful for the responses received. The feedback paper, along with the Insurance Intermediaries (Amendment) Rules, 2024, can be found on the Commission’s Consultation Hub . The amendments to the rules will come into effect on 1 st January...

The Guernsey Financial Services Commission has today issued a Consultation Paper seeking views from interested parties on the creation of a new policy regarding Unclaimed Money under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. This Consultation Paper follows on from the Thematic Review regarding Unclaimed Money The Thematic Review identified that Unclaimed Money is not dealt...

Please be advised that 2 individuals have been designated under the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 The following individuals have been designated: Mustafa Ayash Aozma Sultana These individuals are on the consolidated list, which can be...

On Tuesday 9 April from 10am to 1pm at Beau Sejour, representatives from the States of Guernsey and the Guernsey Financial Services Commission will present on the Bailiwick’s assessment of the risk of Guernsey administered legal persons and legal arrangements being abused for financial crime. The National Risk Assessment on Legal Persons and Legal Arrangements will form part of the Bailiwick of...

Please be advised that Gaobin NI (Group ID: 16462) Guangzong ZHAO (Group ID: 16461) WUHAN XIAORUIZHI SCIENCE AND TECHNOLOGY COMPANY LIMITED (Group ID: 16460) have been designated under the Cyber (Sanctions) (EU Exit) Regulations 2020 (the UK regulations) and is now subject to an asset freeze. The persons referred to above appear on the consolidated list, which can be found here . The UK...

The Commission is hosting an event for current and prospective Skilled Persons from 9am to 10am on Friday 12 April at the Commission's offices at Glategny Court, Glategny Esplanade. A Skilled Person explanatory note can be found here. The event will be an opportunity for Skilled Persons to learn about the Commission’s Skilled Person process, including discussing the Commission’s expectations and...

The Commission has today issued an amendment to the country list in Appendix I of the Handbook on Countering Financial Crime (AML/CFT/CPF) (the “Handbook”) reflecting the Financial Action Task Force’s updated list of jurisdictions under increased monitoring, which added Namibia, therefore Namibia has been added to Appendix I. The clean and tracked version of the Handbook (including Appendix I) can...