Financial Crime

​In order to protect the international financial system from money laundering and terrorist financing, the FATF has published two public documents, identifying countries with strategic deficiencies regarding anti-money laundering and combating the financing of terrorism (AML/CFT).  A link to the documents can be found here.

Guernsey adopts new Terrorist Asset-Freezing Law.  A link to the States of Guernsey media release can be found at www.gov.gg.

The Commission has made a number of changes to the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing and to the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing.  The principal changes are to the chapters on UN, EU and Other Sanctions. A copy of the Handbook for Financial Services…

China’s banking authority, the China Banking Regulatory Commission, and the Guernsey Financial Services Commission have signed a Statement of Cooperation, which provides a framework for broader and closer regulatory cooperation between the two supervisory authorities.    The Statement has been signed in the spirit of mutual cooperation and information exchange seen as crucial by the G20…

​On 28 of November the Commission issued: Instruction (Number 15) for Financial Services Businesses and Instruction (Number 13) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources, see the Instructions page on this website.

​On 22nd of November the Commission issued the following instructions in relation to Iran: Instruction (Number 14) for Financial Services Businesses and Instruction (Number 12) for Prescribed Businesses  

​Please note that invoices for 2012 annual fees will be issued in December 2011 and therefore payment will be expected for all businesses currently registered on receipt of an invoice.If any Registered Business intends to cease trading before 2012 and should therefore not be invoiced for next year, the Commission will require notfication in writing from the business of the intent to…

​The States Legislation Select Committee has made the Belarus (Freezing of Funds) (Guernsey) (Amendment) (No.2) Ordinance, 2011 and the Syria (Restrictive Measures) (Guernsey) (Amendment) (No.2) Ordinance, 2011.  Copies of both Ordinances can be find below. The Belarus (Freezing of Funds) (Guernsey) (Amendment) (No.2) Ordinance, 2011 The Syria (Restrictive Measures) (Guernsey) (Amendment)…

HM Procureur has issued guidance on prosecution for tipping off.  A copy of the guidance can be found on the States of Guernsey website at http://www.gov.gg/CHttpHandler.ashx?id=4637&p=0.

​The States Legislation Select Committee has amended the Libya (Restrictive Measures) (Guernsey) Ordinance, 2011.  A copy of the amendment Ordinance can be found here.