Consumers

Guernsey’s financial services regulator is planning to hold an event for those members of the public who are considering putting themselves forward as candidates for the office of States Deputy at April’s General Election. It will take place on Friday 11th March from 8:30am at the Commission’s office and is expected to last about an hour and a half. Speaking about the event, Director…

The Commission has today published a short guide which explains what risk based supervision is and what it means for licensees.  Please click here. At its core, risk based supervision accepts the premise that resources are finite, that there is no unlimited pool of public or industry funding on which to draw and that every regulator has to make choices about what it will do and what it will not…

​ A free event is being held on Saturday 6 February 2016 as part of Safer Internet Day 2016.  This is the inaugural Digital ACE event and is being organised by people from across education, industry experts and supporting agencies, including the Digital Greenhouse Guernsey. Guidance will be available to children and adults alike, together with practical support, demonstrations and…

Further 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 (“the Law”) and its subsequent application for an Administrator Order under section 374 of the Law, the Royal Court of Guernsey made an administration order in respect of the Fund on 17 November 2015.   Mr Timothy Le…

The Chartered Insurance Institute (CII) is the world's largest chartered professional body for people working in insurance and financial service. It is an independent organisation designed to promote higher standards across the insurance profession. The CII has created a website called Ask Ciindy which is dedicated to providing simple, impartial answers to insurance questions and designed…

​On 16 November 2015 the Channel Islands Financial Ombudsman's office opened. More information on the Channel Islands Financial Ombudsman can be found here.      

​The Commission has been alerted by the National Fraud Intelligence Bureau to a phishing attack on a U.K. financial institution whereby an email containing a JAR file attachment has been sent in order to socially engineer bank staff into unpacking the compressed file. The email states that it has come from the Office of Foreign Assets Control, part of the Department of the Treasury, with the…

​The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 as amended (“the Financial Services Commission Law”)   The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended (the “Fiduciaries Law”)The Protection of Investors (Bailiwick of Guernsey) Law, 1987 as amended (the “POI Law”)The Insurance…

​The Channel Islands Financial Ombudsman has published Consultation Paper 3 on a model complaint-handling procedure for financial services providers. This can be found at https://www.ci-fo.org/cifo-consultations.  

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…