General

​The Commission has today announced that Mrs Gillian Browning has been appointed to replace Mr Philip Marr who is retiring as Director of the Fiduciary Supervision Policy and Innovations Division. The Commission’s Director General, William Mason, said “ I am delighted to be able to welcome Gillian to the Commission as one of our Directors. She has considerable experience in the field of financial...

​The regulatory laws provide that a licence or registration application shall contain or be accompanied by such other information or documents as the Commission may reasonably require, for the purpose of determining the application. Business Risk Assessments (“BRAs”) The Financial Action Task Force (“FATF”) 2012 Recommendations (“the Recommendations”) place even greater emphasis on the importance...

The Commission has today published an additional FAQ under the FC&A tab regarding the certification of copy documentation requirements and best practice. The FAQ can be found at the top of the Financial Crime Supervision and Policy Division's FAQ page here: [ link removed : see AML/CFT Handbook instead].

Please be advised of the following changes to sanctions listings related to the Al-Qaida network which have immediate effect in the Bailiwick. Further to the previous Sanctions Notice issued regarding United Nations listings for 6 individuals associated with extremist groups in Iraq and Syria, these individuals have now been added to the list maintained by the European Union under Council...

​The Commission is today issuing Instruction (Number 04/2014) for both financial services businesses and prescribed businesses. The instruction has been issued as a result of amendments made to the legislation surrounding the reporting of suspicion. The existing Handbooks are in the course of being reviewed and therefore to minimise the impact, and to avoid reprinting the full Handbook while the...

​ What are the reporting requirements under The AIFMD Rules, 2013? Guernsey Depositaries, Non-Financial Asset AIF Depositaries and Guernsey AIFMs which have opted in to comply with The AIFMD Rules, 2013 are required to submit reports to the Commission. The various reporting requirements are set out in The AIFMD Rules, 2013 in Section 17 – Depositary and Section 19 - Reporting obligations to the...

Please be advised that Guernsey has adopted sanctions measures relating to the Russian Federation in view of Russia’s actions in destabilising the situation in Ukraine. These measures have immediate effect in the Bailiwick. The Russian Federation (Restrictive Measures) (Guernsey) Ordinance 2014, which is in force with effect from 1 August 2014, implements Council Regulation (EU) No. 833/2014 of 31...

​The Commission is today issuing Instruction 03/2014 for both financial services businesses and prescribed businesses. The instruction has been issued as a result of amendments made to the sanctions measures against Afghanistan and Al-Qaida to impose a reporting requirement on businesses. The existing Handbooks are in the course of being reviewed and therefore to minimise the impact, and to avoid...

​Please be advised of the following changes to sanctions listings related to Crimea and Sevastopol as well as to the territorial integrity of the Ukraine. These measures have immediate effect in the Bailiwick. CRIMEA AND SEVASTOPOL Council Regulation (EU) No 692/2014 of 23rd June 2014, as implemented by the Crimea and Sevastopol (Restrictive Measures) (Guernsey) Ordinance, 2014 has been amended by...