Consumers

​ 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…

​ 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…

​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…