Financial Crime

Further to the news item posted on the Commission's website on 10 April, the Policy Council has made the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) (No 2) Regulations, 2013 and the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) (Amendment) (No 2) Regulations, 2013. These...

The Commission has noted that the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 have resulted in an inaccurate cross-reference in regulation 5(1)(d) of the regulations being amended. In regulation 5(1)(d) the reference to regulation 3(1)(c) should now be to regulation 3(2)(a). The making of the Criminal Justice (Proceeds...

The Policy Council has signed the following amendment regulations, which came into force today: The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (Amendment of Schedules 1 and 2) Regulations, 2013 The Criminal Justice (Proceeds of Crime) (Legal...

​On 4 March the Commission issued: Instruction (Number 18) for Financial Services Businesses and Instruction (Number 16) for Prescribed Businesses For other Instructions and repealed Business from Sensitive Sources, see Instructions page on this website.

In advance of most of the changes to the AML/CFT framework referred to in our media release of 12 November 2012, the Commission has today amended Appendix C to the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing and the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing. A version of...

As part of its continuing commitment to ensuring that supervisory standards are up to date and appropriate, the Commission is preparing revisions to the regulations and rules governing anti-money laundering (AML) standards for financial services businesses ‘the Handbook’ and for prescribed businesses (firms of lawyers, accountants and estate agents). These revisions largely arise from the...

​On 30 October the Commission issued: Instruction (Number 17) for Financial Services Businesses and Instruction (Number 15) for Prescribed Businesses For other Instructions and repealed Business from Sensitive Sources, see the Instructions page on this website.

The Commission would remind all companies which hold a licence from the Commission under the regulatory laws or which are registered or authorised as collective investment schemes (“funds”) under (i) below that an assurance statement under the Finance Sector Code of Corporate Governance* ("the Code") must be submitted to the Commission by no later than 31 July 2012. The regulatory laws are: the...

​The Commission has today published AML/CFT feedback, which can be found below. Feedback on AML/CFT on-site visits The purpose of the feedback is to provide industry with a summary of findings from on-site inspections, which may prove useful to businesses when identifying and managing risks and in considering their AML/CFT policies, procedures and controls.