General

The Commission will host its next Digital Forum roundtable on Wednesday 22 October at 2pm, focusing on Digital Asset Custody. The event will take place at the Commission’s Regency Court offices and is open to representatives of the Bailiwick’s financial services sector and other stakeholders with expertise or interest in this topic. This session follows previous roundtables on asset tokenisation...

The Commission has become aware of a possible phishing attempt being sent purporting to be from the Commission Secretary, Alice Joy, using the domain “mail-guernseyfsc.com" If you have received such an email from the Commission, please do not reply or click on any links or attachments and instead forward it to [email protected]. The Commission sends its emails from the domain ending “ gfsc.gg.”...

The Commission has today issued two thematic reports on Conflicts of Interest in both the Investment and Fiduciary sectors. The Commission found that, in general, firms appropriately identify, manage and record conflicts of interest that arise during the course of doing business, using a combination of policies, procedures and periodic training. The Commission was encouraged to see examples of...

Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £270.9 billion, a decrease over the quarter of £7.7 billion (-2.8%). Over the past year, total net asset values have decreased by £24.8 billion (-8.4%). Closed-ended Schemes Within these totals, Guernsey closed-ended funds decreased over the quarter by just under £6.2 billion (-2.7%) to £226.6 billion. This...

The Guernsey Financial Services Commission today announces the launch of its Digital Finance Initiative (DFI), a programme to support the positioning of the Bailiwick of Guernsey as a trusted, agile, and forward-thinking jurisdiction for digital financial innovation. “ The DFI will see the Commission work to ensure that the financial services legislation it administers is appropriately tuned to...

The Commission has amended the public Guidance on Private Trust Companies (PTCs) to reflect the revised position that PTCs fall within the scope of The Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the Law) and should either apply for a licence under section 6 of the Law or permission granted under section 3(1)(ac) of the Law. This...

Acting as a director is a regulated activity in the Bailiwick of Guernsey and individuals who do so by way of business* may be required to register with the Guernsey Financial Services Commission (“the Commission”) or apply for a licence. The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 ("the Fiduciaries Law") provides statutory...

The Commission has become aware of a phishing attempt being sent purporting to be from the Commission Secretary, Alice Joy, using the domain “ gfsc.gg.zitirxsend.com” If you have received an email from the Commission and you are unsure of its authenticity, please do not click on any links or attachments and instead forward it to [email protected] . The Commission sends its emails from the domain...

The Guernsey Financial Services Commission (“the Commission”) has signed a Memorandum of Understanding (“MoU”) with the Capital Markets Authority of Kuwait, the authority responsible for regulation of capital markets in Kuwait. The MoU provides a framework for cooperation and information sharing between the two authorities. Speaking about the MoU, the Commission’s Director General, William Mason...