Consultations

The Commission is undertaking a short consultation on changes proposed to rules and guidance in the Handbook on Countering Financial Crime and Terrorist Financing (version issued on 1 March 2019). This follows the publication on 7 May 2019 of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Regulations, 2019 (“the Amendment Regulations”) made by the Policy and Resources...

The Commission is today issuing a discussion paper seeking feedback from all interested parties on potential enhancements to the regulatory framework under the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (the "Fiduciaries Law") with the objective of ensuring that the regime continues to be both compliant with international...

The Guernsey Financial Services Commission (“GFSC”) has, in collaboration with 11 financial regulators and related organisations, today announced the establishment of the Global Financial Innovation Network (GFIN), building on a proposal earlier this year to create a ‘global sandbox’. Recognising the global nature of today’s financial services the network will seek to provide a more efficient way...

3rd August 2018 Following the closing of The Insurance Regulation Omnibus Consultation Paper on 26 April 2018 and analysis of responses, the Commission is today issuing a feedback paper, as well as associated rules, amendment rules, and guidance applicable to insurers licensed under the Insurance Business (Bailiwick of Guernsey) Law, 2002. The feedback consultation response can be found here . The...

Introduction On 30 October 2015, the States of Deliberation approved the Policy Letter submitted by the Policy Council on the Revision of the Financial Supervisory and Regulatory Laws. Representatives of the States of Alderney and the Chief Pleas of Sark had previously indicated their support for the proposals which followed a public consultation process. The Law Officers of the Crown together...

The Commission is pleased to release a consultation paper on the development of a Guernsey Green Fund. Closing date is 1 June 2018. A copy of the consultation paper and the draft rules can be found here: [Consultation Paper] [Rules] The Commission would be grateful for any representations and would draw your attention to the list of questions on page 15 of the consultation paper. I would like to...

The Commission has today issued a consultation paper making proposals in respect of the Rules and Guidance applicable to insurers licensed under the Insurance Business (Bailiwick of Guernsey) Law, 2002. The Insurance Regulation Omnibus Consultation Paper makes proposals on Public Disclosure, Guidance on Reinsurance and Risk Transfer, Conduct of Business Rules for Insurers, Own Risk and Solvency...

Consultation on Code of Market Conduct. The Commission is pleased to release the draft Code of Market Conduct (“the Code”) for consultation. (see here) Closing date is 12 June 2018. The Commission would be grateful for any representations but, in particular, would like comment on the following subjects: 1. Do you agree with the structure of the Code? i.e. a hierarchy: a. Section 2 – Descriptions...

Following release on 15 th March 2018 of the draft Regulation of Fiduciaries, Administration Businesses & Company Directors, etc. (Bailiwick of Guernsey) Law, 2018 for engagement (see here for the news article), the Commission will be hosting a drop-in session on 19 th April 2018 between 8.30am and 9.30am. Please join us to discuss the draft Law and have a coffee and a croissant. The engagement...