News

Consultations

Consultation on Disclosure Rules for Insurance Intermediaries

8th December 2023
Today, the Commission has published a consultation paper proposing amendments to the rules for insurance intermediaries to include some additional disclosure requirements. This affects the thirty-five insurance intermediaries operating in the Bailiwick which are licensed by the Commission . The consultation sets out a proposal that would require the intermediaries to provide information to...

Lending, Credit & Finance

19th January 2023
The Commission has today published its feedback paper following the consultation on Lending, Credit & Finance issued on 21 July 2022, together with the final Lending, Credit & Finance Rules and Guidance and a s40 instrument giving notice of various exemptions from the requirement to hold a licence in respect of the carrying on of business regulated by the law. The Lending , Credit and Finance...

Commission Fees for 2023

11th November 2022
The Commission plans to increase licence fees paid by firms from 1 January 2023 by 8.0% with the agreement of the Policy & Resources Committee. On 20 July 2022, the Commission issued a consultation paper on the fee rates and administrative penalties to apply from 1 January 2023, which contained the following proposals: an overall proposed increase in fees of 9%; application and annual fees in...

Consultation Paper on The Lending, Credit & Finance Rules, Guidance and Implementation

21st July 2022
The Commission has today published a Consultation Paper setting out the Commission’s Rules and approach for regulating the sectors covered by The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022, and is seeking feedback on its proposed Rules and approach. The purpose of the new Law, which was passed by the States of Guernsey on 14 July 2022, is to protect customers in the Bailiwick...

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...