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.
You are here
Today the Commission issued a Discussion Paper “Guernsey and the Development of Global and European Insurance Capital Standards”, a copy of which can be found here. Comments should be submitted by 20 October 2017.
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.
Financial Crime, Authorisations, Banking, Consumers, Fiduciary, General, Insurance, Investment, Registered Business
Industry Presentations 2017 - Save the Date flyer
Consultations, Financial Crime, Authorisations, Banking, Fiduciary, General, Insurance, Investment, Registered Business
The Commission today launches a consultation paper (please click here for a copy) on its proposals for the 2018 licence fees paid by firms. The consultation period will close on Friday 8th of September. An overall blended rate of increase of 3%, excluding anomalies, is proposed for 2018. Commission Chairman, Drs Cees Schrauwers, said: "For five years the Commission has kept the average fee…
Engagement on Draft Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 201725th July 2017
Introduction The Commission is today seeking feedback and assistance from the financial services industry specifically on whether the provisions of the Enforcement Law may have any unintended consequences or fatal flaws. What the engagement is not about The Commission has engaged with the financial services industry through the issuing of a discussion paper and later through a full consultation…
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…
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…
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…
The Guernsey Financial Services Commission has today issued feedback on comments received on its proposals to amend the framework underlying the Insurance Business (Bailiwick of Guernsey) Law 2002 (the “Law”) with the making of rules for Special Purpose Insurers and a related, minor amendment to the Insurance Business (Solvency) Rules 2015. The final version of the Insurance Business (Special…