Banking
Enhancing Sustainable Finance in the Bailiwick
5th May 2022
The Commission has today published a Consultation Paper proposing the introduction of a Natural Capital Fund regime. It is also, through a separate Consultation Paper, bringing forward proposals to counter the risk of greenwashing. Both Consultation Papers can be found here. Creating an Ecosystem for Natural Capital Investment The first Consultation Paper proposes the creation of a Natural Capital...
Some Factors for Financial Services Firms to Consider in light of the War between the Ukraine and the Russian Federation
24th February 2022
The Commission is monitoring the situation and has been, through its 2021 thematic work on sanctions screening and other interactions, encouraging firms to prioritise their sanctions monitoring and assessment of sanctions risks. The Commission requests that all firms check whether they maintain any accounts or otherwise have any kind of relationship with the persons referred to in sanctions...
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...
Risk Warning Regarding Cloned Website
26th January 2022
The Guernsey Financial Services Commission has become aware that a website has been established cloning the Commission’s own website (The GFSREA – Guernsey Financial Services and Regulatory Enforcement Authority – www.gfsrea.org). The Commission’s website domain is www.gfsc.gg The Guernsey Financial Services and Regulatory Enforcement Authority’s website appears to closely resemble the Commission...
Notification of Surrenders and Suspensions from licensees and registrants
20th December 2021
Further to our news article dated 1 December (click here), the Commission wishes to advise that it will not accept Surrenders and Suspensions from licensees and registrants on Christmas Eve or New Year's Eve without prior arrangement.
Website downtime
6th December 2021
The Commission’s website will be offline for routine maintenance at times between midnight and 9am on Tuesday 7 December. Apologies in advance for any inconvenience this may cause.
Notification of Surrenders and Suspensions from licensees and registrants
1st December 2021
Ahead of distributing 2022 annual fees, licensees and registrants who wish to surrender or suspend their licence (or one that they administer) must notify the Commission in good time ahead of the New Year. If the Commission does not give consent to a surrender or a suspension based on the notification requirements set out in the regulations, then licensees or registrants may be liable to pay their...
Commission increases Fees for 2022
12th November 2021
The Commission plans to increase licence fees paid by firms from 1 January 2022 by 7.6% with the agreement of the Policy & Resources Committee. On 16 July 2021, the Commission published a consultation paper on its 2022 fees containing four main proposals:- an overall fee increase of 10.1% for all sectors; a restructuring of fees for the investment sector; changes arising from the update to most of...
Future-proofing Guernsey’s finance sector
1st November 2021
The new and amended regulatory laws, rules, codes and guidance relating to the Commission’s Revision of Laws project come into effect today and can be found on the Commission’s website here. The Commission undertook extensive public consultation and engagement on revising the Bailiwick’s supervisory and regulatory laws with the aim of maintaining a respected regulatory regime for financial...