General

​One of the Commission’s Senior Decision Makers, Andrew Stewart QC, has been installed as a Senator of the College of Justice in Scotland and Lord Commissioner of Justiciary, taking his place on the bench with the judicial title of Lord Ericht. The Lord Justice Clerk, Lady Dorrian, presided over the ceremony in the First Division courtroom in the Parliament House. Lord Ericht is a former president...

On 11 May 2016 the Royal Court of Guernsey handed down its final judgment in the appeal brought by Bordeaux Services (Guernsey) Limited & Ors v Guernsey Financial Services Commission. The Commission has considered this ruling carefully and believes that some key messages are contained within the judgment that are important both for Financial Services Business in the Bailiwick, and also for the...

The Online Submissions Portal will be undergoing planned maintenance from 10.00am on Saturday 28th May, which will continue over the bank holiday weekend. During this time the Portal will be temporarily unavailable. We apologise for any inconvenience caused, we expect to be back online by the morning of Tuesday 31st.

Invitation: Non-Regulated Financial Services Businesses (“NRFSBs”) Seminar Date: Monday 20 June 2016 Venue: Les Cotils in The Harry Bound Room Time: 2.00 – 3.00pm The purpose of the event is to provide businesses registered as an NRFSB or those considering NRFSB registration, with an opportunity to receive feedback on the progress the GFSC has made, and our future plans for firms registered as...

The Commission has withdrawn the requirement for AIRs who provide advice on long term insurance business to attain the Guernsey Insurance Certificate ("GIC"). This decision has immediate effect. The GIC was a mandatory qualification required to be attained by all AIRs who advise on long term insurance business, both in respect of the provision of advice on permanent health, credit life assurance...

​ Following the conclusion of the consultation process the Commission is, today, pleased to announce the launch of the Manager-Led Product. As announced at consultation, this phase of product development is aimed at Alternative Investment Fund Managers seeking to market an Alternative Investment Fund into a host country in Europe under the National Private Placement Regime. The product ensures a...

​Guernsey’s financial services regulator has published a consultation paper following a decision made by the States of Guernsey in January of this year to increase the discretionary financial penalties which the Commission is able to apply in cases where there have been serious regulatory shortcomings (Billet d’Etat V of 2016 https://www.gov.gg/CHttpHandler.ashx?id=99971&p=0). The legislation...

ISIL (DA’ESH) AND AL-QAIDA NETWORK This Notice is issued further to the addition of five natural persons to the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that corresponding changes have now been made to the list maintained by the European Union under Council Regulation (EC) No 881/2002 by...

​The Commission has recently become aware that a number of firms using our Online Services are using software that is no longer supported by the manufacturer and is therefore classed as end-of-life. Software manufacturers do not ordinarily provide security updates (commonly known as patches) for software that is unsupported. As noted in the Commission’s guidance on cyber security (published on 2nd...