Applications under The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022

13th April 2023
Thank you to everyone who took advantage of the early submission window and associated discounted fee structure. The Commission received a significant number of applications during this period which ran from 1 February to 31 March 2023. As we received a large number of applications at the same time, please note it may take us several weeks to get in contact with everyone who has submitted during...

Two-factor authentication (‘2FA’)

22nd March 2023
Further to the announcement in our 2021 Annual Report advising of our intention to implement mandatory two-factor authentication (‘2FA’) on our Online Portals for all our regulated entities, we have been working on our background systems. On this basis by 31 May 2023, the Commission intends to switch 2FA on for all Portal Users who have not yet enabled this functionality. 2FA is an additional...

Six Directorships Registration Proposals

8th December 2022
Following the States of Guernsey's Policy & Resources Committee’s recent publication of its Consultation Paper on proposed revisions to the supervisory framework surrounding the six directorship exemption, the Commission will be hosting two meetings for interested persons at its offices on Glategny Esplanade on the following dates: Wednesday 21 December 2022 from 8.30am to 10am and on Monday 9...

Consultation on ‘six directorship’ exemption for directors

24th November 2022
The Policy & Resources Committee has today published a Consultation Paper seeking views on a proposed change to the requirements which affect some individuals acting as company directors, by way of business, in or from within the Bailiwick. The Commission encourages industry and stakeholders to contribute their feedback. Acting as a director for any company in the Bailiwick, by way of business...

‘Green Isle’ Guernsey launches Natural Capital Fund regime

20th September 2022
The Guernsey Financial Services Commission is pleased to announce three significant developments in its policy framework for sustainable finance coming into effect today. First, the Commission is launching its Natural Capital Fund framework, a new offer in the growing Guernsey Sustainable Funds Regime marking the completion of a pledge made as part of COP26 to extend the Commission’s regulatory...

Sustainable Finance Week - Meet the Regulator

20th September 2022 Sustainable Finance Week
On Wednesday 21 September, as part of Guernsey’s Sustainable Finance Week, the Commission is hosting a ‘Meet the Regulator’ session. Come and meet our Authorisations team who can answer your questions about our sustainable finance approach or regulated business in Guernsey. To find out more and to book a meeting visit:

Consultation Paper on The Lending, Credit & Finance Rules, Guidance and Implementation

21st July 2022
The Commission has today published a Consultation Paper setting out the Commission’s Rules and approach for regulating the sectors covered by The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022, and is seeking feedback on its proposed Rules and approach. The purpose of the new Law, which was passed by the States of Guernsey on 14 July 2022, is to protect customers in the Bailiwick...

Commission consults on Fees for 2023

20th July 2022
The Commission today launches a consultation paper on proposals for increasing the licence fees paid by firms. The consultation period will close on Wednesday 14 September. The consultation paper is available on the Commission’s Consultation Hub. The Commission is consulting on an overall increase in fees of 9%. Other specific proposals to change fees are outlined in the consultation paper and...

Enhanced Authorisations Approach to some Applications

3rd March 2022
This notice is to provide notification that, in light of the war in Ukraine, any application involving individuals, entities or investments connected with Russia is ineligible for consideration through any of the Commission’s fast-track application regimes. The Commission will expect any application to be accompanied by reputable legal advice confirming the individuals and entities involved have...

Update regarding cloned website

28th January 2022
On Wednesday 26 January, the Commission reported that it had become aware of a website that had been established cloning the Commission’s own website. Since becoming aware of the matter, the Commission submitted abuse notifications to the domain registrar and the hosting provider as well as reporting the URL as malicious to the appropriate authorities. The cloned website’s domain has been taken...