General

The Guernsey Financial Services Commission has today published its 2023 annual report and financial statements. In the annual report, the Commission discusses: its preparations for the Bailiwick’s 2024 MONEYVAL inspection; its continued development of digital technology to enhance performance and streamline processes for industry; and the introduction of the new Lending, Credit and Finance Law...

The Commission supports innovation and recognises the role tokenisation could play in improving efficiency within capital markets. The Commission is aware of growing interest, locally and internationally, in the application of this technology within the funds sector and this is an area of focus for fund regulators globally. The Commission’s overall position is to encourage technology which...

The Guernsey Financial Service Commission has signed a Memorandum of Understanding (MoU) with the European Central Bank (ECB), the authority responsible for monetary policy and the supervision of significant banking institutions across the Eurozone. The MoU provides a framework for cooperation and information sharing between the two authorities. Speaking about the MoU, the Commission’s Director...

The Commission has today issued a feedback paper following the consultation on disclosure rules for insurance intermediaries issued in 2023. The Commission is grateful for the responses received. The feedback paper, along with the Insurance Intermediaries (Amendment) Rules, 2024, can be found on the Commission’s Consultation Hub . The amendments to the rules will come into effect on 1 st January...

The Guernsey Financial Services Commission has today issued a Consultation Paper seeking views from interested parties on the creation of a new policy regarding Unclaimed Money under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. This Consultation Paper follows on from the Thematic Review regarding Unclaimed Money The Thematic Review identified that Unclaimed Money is not dealt...

The Commission is hosting an event for current and prospective Skilled Persons from 9am to 10am on Friday 12 April at the Commission's offices at Glategny Court, Glategny Esplanade. A Skilled Person explanatory note can be found here. The event will be an opportunity for Skilled Persons to learn about the Commission’s Skilled Person process, including discussing the Commission’s expectations and...

Fourth Quarter 2023 Guernsey Funds The total net asset value of Guernsey funds at the end of the quarter was £289.9 billion, an increase over the quarter of £1.1 billion (+0.4%). Over the past year, total net asset values have decreased by £1.7 billon (-0.6%). Closed-ended Schemes Within these totals, Guernsey closed-ended funds increased over the quarter by £0.7 billion (+0.3%) to £240.1 billion...

The Commission invites firms and individuals to sign up to receive its new newsletter, The Leopard, which will provide a digest of recent news and updates, share upcoming events, and help to keep firms and individuals up-to-date with Commission priorities. The newsletter will complement rather than replace the RSS (or Really Simple Syndication) feeds, which are available to subscribe to on the...