By way of background, Initial Coin Offerings (“ICOs”) are a method of raising funds by the issuance of digital tokens or digital coins in a virtual currency. The operators of the ICO may explain that the proceeds are to be used to fund the development of a project which might itself be a form of digital service or associated software. Although no such schemes have been noted to have been…
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At this current time QI Finance.com Limited ("QI Finance"), is not registred under the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008, and as such is not regulated or authorised by the Guernsey Financial Services Commission.
The Commission has published a report on its thematic review of sales practice relating to advice given to retail clients on controlled investments and long-term insurance. A copy of the report can be found here. The report should be read by all relevant licensees. It may also be of interest to consumers who seek advice on these types of products.
The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No. 2) 201725th August 2017
Pension, Financial Crime, Authorisations, Banking, Consumers, Fiduciary, General, Insurance, Investment, Registered Business
The Commission has today published “The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No. 2) 2017” (please click here), which replaces the earlier version, published last month, which required some minor amendments.
Mr Michael Joseph Doyle Born: 16 April, 1968; and Mrs Belinda Doyle (nee Lanyon) Born: 1 March 1960 of La Connellerie, Sark17th August 2017
On 3 May 2017, the Guernsey Financial Services Commission (“the Commission”) applied to the Royal Court of Guernsey under section 427 of The Companies (Guernsey) Law, 2008, to seek disqualification orders against both Mr and Mrs Doyle from acting as a director of any Guernsey company. On 16 August 2017, the Bailiff handed down his judgment in which he disqualified both Mr Doyle and Mrs Doyle…
Financial Crime, Authorisations, Banking, Consumers, Fiduciary, General, Insurance, Investment, Registered Business
Industry Presentations 2017 - Save the Date flyer
The Commission is today issuing a consultation paper seeking feedback on a number of regulatory proposals for firms involved in lending, credit and finance. The consultation period will close on Friday 15th September 2017. The proposals contained within the consultation paper have a twofold purpose:- A) Opening up Guernsey to more innovative, often digitally enabled, financial services…
Commission Issues Feedback on the Code of Conduct for Authorised Insurance Representatives Consultation7th March 2017
The Guernsey Financial Services Commission has today issued feedback on comments received on its proposals to amend the Code of Conduct for Authorised Insurance Representatives (“the Code”). The Commission has also published the final version of the Code, which will come into effect on 1 April 2017. The purpose of the revision is to address the Commission’s conclusions from the thematic…
As you may have seen, there has been extensive media coverage in recent weeks about different types of scams currently targeting local residents. You are reminded to be vigilant about any requests for your personal security information, as scammers can be very convincing. In addition, if you ever receive an SMS or email asking you to contact your bank, you should always do so using the…
Consultation on Revisions to the Code of Conduct for Authorised Insurance Representatives (“the Code”).6th December 2016
The Commission is today issuing a consultation paper on revisions to the Code of Conduct for Authorised Insurance Representatives. The proposed Code clarifies the minimum standards expected to be met by an authorised insurance representative and takes into account current trading methodologies and rapidly changing and developing customer behaviours. Responses to the consultation which…