Investment

​ The Collective Investment Schemes (Class B) Rules 1990 (“the 1990 Rules”) came into operation on 1 October 1990.  Whilst the 1990 Rules have been subject to various amendments they have not previously been the subject of a detailed review.  In light of amendments made to the rules relating to Class A open-ended collective investment schemes and the introduction of rules covering…

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…

​ GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2012       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 2012.  Failure to pay by the due date constitutes a breach of the fees regulations and may be recoverable as a civil debt due to…

​The Commission has added the following documents / information to its website:  an explanatory note regarding any proposed changes to Information Particulars for Authorised and Registered Collective Investment Schemes (which may be found here); a note of the Commission’s expectations relating to any proposed changes of Designated Persons for Authorised and Registered Collective Investment…

The Commission has written to financial services businesses in connection with Eurozone risk management.  The Commission has noted that continuing action by governments in the Eurozone might not achieve the desired effect of improving financial stability.   One or more Eurozone members may exit from Euro currency union, and reversion to local currencies is possible.  Accordingly, the…

​Please note that invoices for 2012 annual fees will be issued in December 2011 and therefore payment is expected for the following: Current Licensees Current Open-ended Schemes ( and their underlying cell, classes, sub-funds) Current Closed-ended Schemes Current Non-Guernsey Schemes Exempt Funds - authorised after 2009 If any of the above will not continue in 2012 and therefore should not be…

​ GUERNSEY FUNDS IMPACTED BY UNCERTAINTY IN EUROZONE AS TOTAL FUNDS UNDER MANAGEMENT DECREASES OVER QUARTER   Investment Funds   The uncertainty in the Eurozone and subsequent upheaval in the international markets appears to have impacted on Guernsey Funds with the net asset value of total funds under management and administration decreasing by £3.4 billion (-1.2%) over the quarter ended 30…

​Quarterly reminder regarding the Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010 (“the Regulations”)   Please note the requirements as set out under the Regulations, a copy of which can be found here. If the relevant entity is late in submitting annual returns by the mandated deadline* they will be subject to the penalties as…

​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.