News

Consultations

Feedback statement on the Amendments to the Banking Rules on Accounts, Disclosure & Large Exposures Consultation Paper

24th September 2021
The Commission has today published the feedback to its Consultation on Amendments to the Banking Rules on Accounts, Disclosure & Large Exposures. In March 2021 the Commission published a Consultation Paper on its proposed Accounts, Disclosure and Reporting Rules and its Large Exposure Rules, to be issued under the Banking Supervision (Bailiwick of Guernsey) Law, 2020 (due to come into effect on...

Consultation Paper on the Banking Supervision (Annual Compliance Return) Rules, 2021

3rd September 2021
The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on proposed Banking Supervision (Annual Compliance Return) Rules and Guidance. This Consultation Paper forms part of the implementation of the Revision of Laws Project. The proposed Rules do not implement policy change. A copy of the Consultation Paper along with the draft Rules...

Consultation Paper on Amendments to the Banking Rules on Accounts, Disclosure & Large Exposures

15th March 2021
The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on proposed Banking Supervision (Accounts, Disclosure and Reporting) Rules and Guidance and amendments to the Commission’s Large Exposure and Upstreaming framework in the form of proposed Banking Supervision (Large Exposure) Rules. The proposed Accounts, Disclosure and Reporting...

Commission publishes two papers addressing Green and Climate related Risk

11th March 2021
The Commission has today published a Spring Green Consultation Paper - please click here and its Thematic Review of the Guernsey Green Fund Regime - please click here. Both documents underline the Bailiwick’s ongoing commitment to this important area. The Spring Green Consultation Paper proposes an addition to the Finance Sector Code of Corporate Governance, to take specific account of climate...

Consultation Paper on Proposals for a Green Investment Discount for Life Insurer Capital Requirements

5th October 2020
The Guernsey Financial Services Commission has today issued a consultation paper seeking views from interested parties on proposed amendments to the Insurance Business (Solvency) Rules, 2015.The proposed amendments would introduce a “Green Discount”, which would reduce the capital requirements applicable to the green fixed income assets of life insurers. Additional measures would be put in place...

Consultation Paper on Cyber Security Rules and Guidance

21st September 2020
The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on proposed Cyber Security Rules and an accompanying Guidance Note for all licenced entities under the various supervisory laws.A copy of the Consultation Paper, Draft Rules and the Draft Guidance can be found here: https://www.gfsc.gg/commission/legislation-and...

Consultation Paper on Guidance for Custodians of Open-ended Collective Investment Schemes with Indirectly Held Assets

9th September 2020
The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on a proposed Guidance Note for Custodians of open-ended collective investment schemes made under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (the “PoI Law”).A copy of the Consultation Paper and the Draft Guidance can be found here: https://www.gfsc.gg/commission...

Discussion Papers on Ancillary Vehicles and the New Fiduciary Licence Categorisation

20th August 2020
The Guernsey Financial Services Commission has issued today two discussion papers seeking views from interested parties on proposals concerning rules to be made following the States of Deliberation’s approval of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the "2020 Fiduciaries Law") and the Protection of Investors...

Commission consults on Fees for 2021

4th August 2020
The Commission today launches a consultation paper on proposals for increasing the licence fees paid by firms (please click here for a copy of the consultation paper). The consultation period will close on Tuesday 15 September.The proposals are for an increase of 2.1% across all sectors, based upon Guernsey’s RPI, together with the introduction of a modest fee for fast track applications of £500...

Funds Growth Omnibus Discussion Paper

7th July 2020
The Guernsey Financial Services Commission has issued today a discussion paper making proposals aimed at ensuring that the Guernsey funds framework remains fit for purpose while helping to create opportunities for growth. Amongst other proposals to increase efficiency and clarity, the discussion paper proposes widening the formation options for Private Investment Funds.Commenting on the discussion...