THE Guernsey Financial Services Commission has promoted Caroline Bradley to Deputy Director of the Insurance Division. Mrs Bradley joined the GFSC in 2008 after a long career in insurance. Having started out as a graduate trainee with a major UK insurer, she specialised as a loss adjuster, then, on moving to Guernsey, she spent 13 years working in captive management dealing with all types of…
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The Guernsey Financial Services Commission and Germany’s banking, insurance and securities regulator, BaFin, have signed a Memorandum of Understanding (MoU), which provides a framework for enhanced cooperation between the two supervisory authorities. The MoU has been signed in the spirit of mutual cooperation and information exchange seen as crucial by the G20 countries and…
On 9th August the Commission issued a letter regarding the Eurozone and the United States to all non-branch financial services businesses and collective investment schemes. For a copy of the letter, please click here.
Click link below to the consultation paper on fee rate proposal 2012: Consultation paper fee rate Proposals 2012
The Insurance Business (Approved Assets) Regulations, 2008 (“the Approved Asset Regulations”)The Commission confirms that US Government debt securities, despite the downgrading from AAA to AA+ by S&P, may continue to be treated as class 1 assets for solvency purposes whilst they remain rated AAA by Fitch and Aaa by Moody’s. Fitch Ratings and Moody’s Investors Service are included…
Instruction (Number 13) for Financial Services Businesses and Instruction (Number 11) for Prescribed Businesses4th August 2011
On 4th of August the Commission issued: Instruction (Number 13) for Financial Services Businesses and Instruction (Number 11) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources, see the Instructions page on this website.
Change to Appendix C of the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing4th August 2011
Appendix C of the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing has been revised to add Bulgaria, Estonia, Latvia, Lithuania and Liechtenstein as jurisdictions whose authorised financial services businesses may be treated as if they were local. A version of the revised Handbook, which includes coloured text to show the changes, has been…
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 Reporting Suspicion and UN, EU and Other Sanctions. A copy of the…
The Commission has placed a revised draft of the Finance Sector Code of Corporate Governance on the consultation page of its website. Any comments on the Code should be provided in writing to the Policy and International Affairs team at the Commission by close of business on 1 June. Code of Corporate Governance - Consultation Paper for GFSC
Instruction (Number 12) for Financial Services Businesses and Instruction (Number 10) for Prescribed Businesses4th April 2011
On 4th April the Commission issued: Instruction (Number 12) for Financial Services Businesses and Instruction (Number 10) for Prescribed Businesses For repealed Instructions and Business from Sensitive Sources Notices, see the Business from Sensitive Sources & Instructions page of this website.