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Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below.  These developments concern sanctions relating to: Belarus; ISIL (Da’esh) and Al-Qaida Network; and Terrorism and Terrorist Financing.   BELARUS Council Regulation (EC) No 765/2006, as implemented in the Bailiwick by the Belarus (Freezing of Funds)…

The Commission has published regulatory guidance impressing on firms their need to take their responsibilities in respect of cyber security seriously and reminding them of their obligation to report serious or significant incidents to the Commission.  The guidance can be found under the Legislation & Guidance sections of the website: Guidance Note on Cyber Security.pdf.

Please be advised that the United Nations Security Council has amended the details in respect of five individuals (“the listed persons”) on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267.  All persons on the list are subject to restrictive measures which include targeted financial sanctions.  Further details…

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below.  These developments concern sanctions relating to: Zimbabwe; and Terrorism and Terrorist Financing. ZIMBABWE Council Regulation (EC) No 314/2004 has been amended by Council Regulation (EU) No 2016/214 and by Council Implementing Regulation (EU) No 2016/218. The…

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below.  These developments concern sanctions relating to: Terrorism and Terrorist Financing; and ISIL (Da’esh) and Al-Qaida Network. TERRORISM AND TERRORIST FINANCING HM Treasury has renewed the final designation of one individual under the Terrorist Asset-Freezing…

The Commission has today published a short guide which explains what risk based supervision is and what it means for licensees.  Please click here. At its core, risk based supervision accepts the premise that resources are finite, that there is no unlimited pool of public or industry funding on which to draw and that every regulator has to make choices about what it will do and what it will not…

GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2016 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 were due by 31 January 2016.   The details within the website, relating to the tariff of annual fees for businesses, entities and individuals, can be found by…

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below.  These developments concern sanctions relating to Terrorist Financing, Al-Qaida, Libya and Iran.   TERRORISM AND TERRORIST FINANCING HM Treasury has revoked the final designation of one individual under the Terrorist Asset-Freezing etc. Act 2010.  The…

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below.  These developments concern sanctions relating to Iran, ISIL (Da’esh) and Al-Qaida Network.   IRAN Council Regulation (EU) No 267/2012, as implemented in the Bailiwick by the Iran (Restrictive Measures) (Guernsey) Ordinance, 2012, the Iran (Restrictive…

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Iran – Nuclear Proliferation. In recognition of the steps taken by Iran to comply with the Joint Comprehensive Plan of Action agreed 6 months ago with the E3/EU+3, amendments have been made to Council Regulation…