News

Financial Crime

Restrictive measures against Libya modified

3rd October 2011
​The restrictive measures in place against certain persons, entities and bodies in view of the situation in Libya have been modified. The States of Guernsey press release can be found at http://www.gov.gg/sanctionslibya

United Kingdom Bribery Act 2010

29th September 2011
The Commission has written today to all financial services businesses and prescribed businesses in the following terms: A number of financial services businesses have asked the Commission about the implications of the United Kingdom Bribery Act 2010 to the Bailiwick. The Act came into force on 1 July 2011. While not directly effective in this jurisdiction, it may nevertheless apply to people in...

Change to Appendix C of the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing

4th August 2011
Appendix C of the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing has been revised to add Bulgaria, Estonia, Latvia, Lithuania and Liechtenstein as jurisdictions whose authorised financial services businesses may be treated as if they were local. A version of the revised Handbook, which includes coloured text to show the changes, has been placed on...

Change to Appendix C of the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing

4th August 2011
​Appendix C of the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime ad Terrorist Financing has been revised to add Bulgaria, Estonia, Latvia, Lithuania and Liechtenstein as jurisdictions whose financial services businesses and prescribed businesses may be treated as if they were local. A version of the revised Handbook, which includes coloured text to...

Changes to the AML/CFT Handbooks

7th July 2011
The Commission has made a number of changes to the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing and to the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing. The principal changes are to the chapters on Reporting Suspicion and UN, EU and Other Sanctions. A copy of the Handbook...

Guernsey adopts revised restricted measures against Belarus

7th July 2011
The EU has issued Council Regulation (EU) No. 588/2011, which added further individuals and entities to Annex 1A to Council Regulation (EC) No. 765/2006 and amended the 2006 regulation to impose an arms embargo. The changes take effect in Guernsey under the Belarus (Freezing of Funds) (Guernsey) (Amendment) Ordinance, 2011 and the Belarus (Freezing of Funds) (Guernsey) Ordinance, 2006. Financial...