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Fiduciary

Lending, Credit and Finance Consultation

18th July 2017
Consultations, Consumers, Fiduciary, General
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 Monday 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…

Revisions to the Financial Services Business and Prescribed Business Handbooks

30th June 2017
Financial Crime, Banking, Fiduciary, Insurance, Investment, Registered Business
The Commission is today issuing revised versions of the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing (“the FSB Handbook”) and the Handbook for Prescribed Businesses on Countering Financial Crime and Terrorist Financing ("the PB Handbook”) to take account of recent changes to the Bailiwick’s legislation in relation to wire transfers…

Consultation on the new Financial Resources Requirement rules ("FRR rules")

24th April 2017
Consultations, Fiduciary, General
  The Guernsey Financial Services Commission is consulting on proposals to introduce new FRR rules for full fiduciary licensees. Background The Commission has been working with the Guernsey Association of Trustees (GAT) with the intent of reviewing and updating the FRR as applicable to full fiduciary licensees. Key reasons for the proposed new FRR rules are: 1) to enable Guernsey to meet…

Client Money - Thematic Review 2016

17th February 2017
Fiduciary
The Fiduciary Supervision Policy and Innovations Division has published the finding of its 2016 Thematic Review of "Client Money".  A copy of the report can be found by clicking here.

Reminder Annual Fees due by 31 January 2017

25th January 2017
Banking, Fiduciary, General, Insurance, Investment, Registered Business
GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2017 All businesses, entities and individuals licensed by or registered with the Guernsey Financial Services Commission are reminded that the payment of annual fees to the Commission are due by 31 January 2017. If payment is received after the due date a late payment penalty fee will be applied in accordance with Regulation 2 of the Financial…

Marlborough Trust Company Limited, Marlborough Nominees Limited, Mr Nicholas Robert Hannah, Mr Adrian Bradley Howe, Mr David Charles Enevoldsen, Mr Benjamin John Tustin

21st November 2016
Public Statements, Fiduciary, General
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 (“the Fiduciaries Law”) The Protection of Investors (Bailiwick of Guernsey) Law, 1987 The Banking Supervision (Bailiwick of Guernsey) Law, 1994 The Insurance…

2016 Financial Crime Risk Return Reminder

1st October 2016
General, Banking, Insurance, Investment, Fiduciary, Registered Business, Financial Crime
The Commission wishes to remind all financial services and prescribed businesses, together with personal fiduciary licence holders, that the Financial Crime Risk Return is due for submission by 31 October 2016. The Return can be found through the Commission’s Online Submissions Portal, located here: https://submit.gfsc.gg/ Further information on the background to the Return, as well as…

Sanctions Notice - Iraq

22nd September 2016
Sanctions, General, Banking, Insurance, Investment, Fiduciary, Registered Business
United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove nineteen entities from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendment are…

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