Banking

​Council Regulation (EU) 269/2014, as implemented by the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Guernsey) Ordinance 2014, the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Alderney) Ordinance 2014 and the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Sark ) Ordinance 2014, has been amended by Council Implementing Regulation (EU) No 2015/ 1514...

​ Further to the Commission’s news article of 28 August 2015, a directions hearing was heard on 16 September 2015 in relation to the Commission’s application for the winding up of MVP Fund Range PCC Limited (“the Fund”) under section 410 of the Companies (Guernsey) Law, 2008, as amended. After hearing Counsel for the Commission and Mr Stratford, a director of the Fund, the Royal Court made a...

The FCA has reported that in recent months there has been an alarming rate of UK residents who have been persuaded into joining a UK-based venture known as WeRe Bank. In order to join WeRe Bank members are required to issue a Promissory Note in the sum of £150,000 which is payable within ten year anniversary from the time of joining. The FCA has received numerous reports from financial...

Council Regulation (EU) No 224/2014, as implemented in the Bailiwick by the Central African Republic (Restrictive Measures) (Guernsey) Ordinance, 2014, the Central African Republic (Restrictive Measures) (Alderney) Ordinance, 2014, and the Central African Republic (Restrictive Measures) (Sark) Ordinance, 2014, has been amended by Commission Implementing Regulation (EU) No 2015/1485. The...

Please be advised that on 3 September 2015 the United Nations Security Council added the name of 1 natural person (“the listed person”) to the list of persons associated with Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to restrictive measures, including financial sanctions. Further information about the listed person is available...

This Notice is issued further to a Sanctions Notice issued last month in relation to the removal of one natural person from the list of persons associated with Al-Qaida maintained under United Nations Security Council Resolution 1267, and changes to the details relating to two other listed persons. Please be advised that corresponding changes have now been made to the list maintained by the...

​On the 27 August 2015 application was made to the Royal Court by The Guernsey Financial Services Commission to wind up MVP Fund Range PCC (“the Fund”) under the Section 410 of The Companies (Guernsey) Law 2008 on the grounds that it is in the public interest.The Commission felt it necessary to take these steps as it is concerned at the illiquid nature of the Fund and in light of the nature of the...

Please be advised that the United Nations Security Council has amended the list of persons associated with Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to restrictive measures which include targeted financial sanctions. The details in respect of two individuals on the list have been updated. Further information is available here...

​The Commission is aware that there has been a recent increase in attempts by a criminal group to target local businesses with distributed denial of service attacks. The Guernsey Police have issued the below warning, via the States of Guernsey website, explaining the background to the attacks and detailing the steps that businesses should take to protect their networks from attack: http://www.gov...