On 30 October 2015, the States of Deliberation approved a Policy Letter submitted by the Policy Council which recommended that the regulatory laws should be updated to reflect current international standards. Representatives of the States of Alderney and the Chief Pleas of Sark had previously indicated their support for the proposals which followed a major public consultation process.
More recently, the Commission has sought engagement with industry on the detailed draft legislation that was prepared in light of the States’ decision. The Commission would like to thank everyone who contributed their views and suggestion as part of the engagement process. Responses were received from a cross section of industry, trade associations and business groups.
The Commission, together with the Law Officers of the Crown, have completed a review of the responses submitted as part of the engagement process and made amendments to the draft legislation where appropriate. In addition, feedback documents have been prepared setting out how we have responded to the comments and suggestions we received during the engagement process. The contents of the feedback statements has been agreed with the Law Officers of the Crown. In the feedback statements we have sought to address common concerns and comments raised by our stakeholders.
Copies of the feedback documents are available below:
- The draft Financial Services Commission (Enforcement Powers) (Bailiwick of Guernsey) Law, 2019
- The draft Banking Supervision (Bailiwick of Guernsey) Law, 2018
- The draft Protection of Investors (Bailiwick of Guernsey) Law, 2018
- The draft Regulation of Fiduciaries, Administration Business and Company Directors, etc. (Bailiwick of Guernsey) Law, 2018
If you have any problems accessing the feedback documents, please contact us at [email protected].