General

The Commission has published a survey and is looking for members of the public to contribute their personal experiences in purchasing insurance products and when making claims on their insurance policies. The survey is available on the Commission’s website - 2018 General Insurance Survey It is anticipated that responses to the survey will identify common trends, which will be explored by the...

The Guernsey Green Fund Rules The Commission is pleased to announce the publication of the Guernsey Green Fund Rules following the closing of the consultation on 1 June 2018. The Rules create a new description of a scheme known as a Guernsey Green Fund that has the objective of seeking a return for investors whilst mitigating environmental damage. The rationale for developing the Green Fund Rules...

Last Friday, the Commission hosted a one-day event which challenged participating teams to develop digital solutions for one or more of the three pre-set challenges showing how technology could be used to: 1. Optimise efficient and effective client due diligence (and hence reduce costs for Bailiwick businesses). 2. Improve administration. 3. Help the financially excluded. The event was a...

The Commission has today issued a guidance note in respect of the provision of registered office services by unregulated persons. The aim of the guidance note is to act as a reminder that the provision of registered office is a regulated activity and explain why that is the case.

As part of its commitment to supporting innovation within the Bailiwick’s financial services industry, the Commission is hosting a one-day event on Friday 22 June. Expressions of interest in taking part were sought and a cross section of businesses and individuals have entered. The SoundBox Sprint will provide an exciting opportunity for the participating teams to develop digital solutions to...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 as amended ("the Financial Services Commission Law"); The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 (the “Fiduciaries Law”); The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 as amended ("the...

First Quarter 2018 Investment Funds The net asset value of total funds under management and administration has decreased in Sterling terms over the quarter ended 31 March 2018 by £7 billion (-2.9%) to £263 billion. For the year since 31 March 2017, total net asset values decreased by £5 billion (-1.5%). Open-ended Funds Within these totals Guernsey domiciled open-ended funds decreased by £1.67...

Friday 22 June As part of our commitment to support innovation, the Guernsey Financial Services Commission is hosting a one day event, Friday 22 June, which will provide an opportunity for Bailiwick businesses or individuals to develop digital solutions to 3 pre-set challenges. The SoundBox Sprint will provide a unique one stop access to key bailiwick decision makers and business subject experts...

The Commission has today published its 2017 annual report and financial statements. Amongst the key themes explored in the report is a focus on ‘Green Finance’ with a regulatory initiative expected to be launched by the Commission in June to be known as the Guernsey Green Fund. It will be open to all types of funds and compliance with green criteria will be required. In addition to the Guernsey...