General

In November 2003 the International Monetary Fund (IMF) issued a report on its evaluation of Guernsey’s financial regulation and law enforcement standards. This assessment was part of its programme of assessments of the regulatory standards of all financial centres. The IMF concluded that Guernsey has ‘a high level of compliance’ with each of the international standards against which the Bailiwick...

It has come to the Commission's attention that a number of residents of the Bailiwick have received unsolicited calls from representatives of Amherst International. The Commission would refer residents to its previous notices on the subject of cold calling on 1 June 2002, 24 July 2003 and 10 September 2003(all of which can be viewed on this website). Firms wishing to conduct investment business...

Banks and their customers are warned that attempts have recently been made by criminals to obtain details of bank customers. This has been achieved by intercepting mail from the banks, doctoring their headed paper and requesting the customers to provide confidential information in a form which is then asked to be faxed to the UK. It has been noted that customers in Africa seem to have been...

Alert to all Bailiwick Residents - Cold Calling The Guernsey Financial Services Commission has recently investigated a number of cases where Bailiwick residents have received unsolicited telephone calls from staff of investment businesses that do not have their place of business in the Bailiwick. The practice, where a person makes an unsolicited call to a potential investor seeking to sell them...

In January 1998 the United Kingdom Home Office announced a review of the laws, systems and practices in Guernsey, Jersey and the Isle of Man for : "regulating banking, insurance and financial services business and collaborating with overseas regulators; deterring, investigating and punishing financial crime, including money laundering and fiscal offences, particularly cases with an international...