News

External Evaluations

International Association of Insurance Supervisors Assessment of Guernsey Against the Insurance Core Principles

25th June 2019
On 12 June 2019 the International Association of Insurance Supervisors (IAIS) approved the Detailed Assessment of Observance of IAIS Insurance Core Principles by the Bailiwick of Guernsey. The IAIS is one of the principal international standard setting bodies, to which the Bailiwick has a long standing commitment. The report follows an assessment of Guernsey against the Insurance Core Principles...

MONEYVAL Assessment of the Bailiwick's Anti-Money Laundering and Combating the Financing of Terrorism Controls

15th January 2016
On 15 January 2016 the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) issued its report on the Fourth Assessment on the Bailiwick of Guernsey's Anti-Money Laundering and Combating the Financing of Terrorism controls. The report shows that Guernsey has made major progress against the evolving international...

IMF Assessment of the Supervision and Regulation of the Financial Sector

14th January 2011
The IMF has today published six reports arising from its evaluations in March and May 2010 of the Bailiwick’s financial supervision and criminal justice frameworks. The reports commend Guernsey as having financial sector regulation and supervision of a high standard across all sectors, and a legal framework which provides a sound basis for an effective AML/CFT regime, with preventive measures...

The IMF Assessment of the Supervision and Regulation of the Financial Sector

28th November 2003
In November 2003 the International Monetary Fund (IMF) issued a report on its evaluation of Guernsey’s financial regulation and law enforcement standards. This assessment was part of its programme of assessments of the regulatory standards of all financial centres. The IMF concluded that Guernsey has ‘a high level of compliance’ with each of the international standards against which the Bailiwick...

The Offshore Group of Banking Supervisors Mutual Evaluation Report of the Anti-Money Laundering System in Guernsey

28th September 2000
At its annual general meeting in September 2000 the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering ("FATF") and was carried out in 1999 by independent experts from France, Malta...

Further International Backing for Guernsey

23rd June 2000
At its annual general meeting this month the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering and was carried out in 1999 by independent experts from France (law enforcement expert)...

International Backing for Guernsey

23rd June 2000
Guernsey has won the backing of the international Financial Action Task Force (FATF) for its impressive regulatory and criminal law framework and how the Bailiwick cooperates in practice against money laundering.The FATF was set up after the 1989 meeting of the Group of Seven Finance Ministers to look at the regulatory standards and practices employed in finance centres as part of the global...

Progress made on Edwards suggestions

12th December 1999
ONE YEAR on from the publication of Andrew Edwards' Review enhancements are being made to the regulation of the finance industry. Some of the Guernsey authorities' proposals have resulted from suggestions in Mr Edwards' report, while others were already under way prior to the review.Mr Edwards was commissioned by the UK Home Secretary to review with the Island authorities of Guernsey, Jersey and...

Report of the Advisory and Finance Committee on the Status of the Review of Regulation in the Crown Dependencies (the Edwards Review)

2nd December 1999
1. Executive SummaryThe Edwards Report, which was published in November 1998, was welcomed by the Guernsey Authorities as independent confirmation of the Island's high standard of financial services regulation and its commitment to combat crime of all types. It endorsed the strength of Guernsey in the areas reviewed and described the Bailiwick as being in the "top division of offshore finance...