The Commission would remind all companies which hold a licence from the Commission under the regulatory laws or which are registered or authorised as collective investment schemes (“funds”) under (i) below that an assurance statement under the Finance Sector Code of Corporate Governance ("the Code") must be submitted to the Commission by no later than 31 July 2012.
The regulatory laws are:
- the Protection of Investors (Bailiwick of Guernsey) Law, 1987;
- the Banking Supervision (Bailiwick of Guernsey) Law, 1994;
- the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000;
- the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002.
The Code does not cover entities licensed under the above Laws which are Guernsey branches of foreign domiciled companies or which are partnerships and the Code does not apply to any underlying SPVs or investment holding companies of funds.
Please refer to the news item which was published on 8 May 2012 and the Code for further information.