Quarterly reminder regarding the Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010 (“the Regulations”)
Please note the requirements as set out under the Regulations, a copy of which can be found here.
If the relevant entity is late in submitting annual returns by the mandated deadline* they will be subject to the penalties as set out under Section 2 of the Regulations. Licensees that fail to pay late filing fees within six months will be referred to Petty Debts Court by the Commission.
If you have submitted this year’s annual return prior to the mandated deadline, please ignore this reminder.
If you have any queries on the submission of annual returns please contact a member of the Investment Business Division.
* The mandated deadlines for licensees and funds are set out in the Schedule to the Regulations. As set out in the Regulations and the relevant rules please note that registered collective investment schemes and authorised closed ended collective investment schemes that are not submitted to the Commission within the time period specified within the scheme’s information particulars, or six months if that date is not specified or is more than six months, will be subject to a late filing fee.