The Commission is today issuing Instruction (Number 02/2014) for Financial Services Businesses and Prescribed Businesses, copies of which can be accessed on the FC&A Section of the Commission's website. The log of Business from Sensitive Sources & Notices document has been updated to enable identification of the changes applied. Instruction (Number 02/2014) for Financial Services Businesses...
Insurance
A Thematic Report on Sales Practices within the Long-term Insurance and Investment intermediary Sector of the Bailiwick of Guernsey is now available on both the Insurance and the Investment Thematics pages of the Commission's website. The report should be read by anyone who provides investment or long-term insurance advice to retail customers.
Investment and Long-term Insurance Sales Practice - A Thematic Report
The Commission is today issuing Instruction Number M 01/2014 for Financial Services Businesses and Instruction Number M 01/2014 for Prescribed Businesses, copies of which can be accessed from the FC&A section of the Commission's website: Instruction M 01/2014 for Financial Services Businesses and Instruction M 01/2014 for Prescribed Businesses 3 June 2014
Instruction No. M 01/2014 for Financial Services Businesses and Instruction No. M 01/2014 for Prescribed Businesses
Following a request by the Commerce and Employment Department (“C&E”) the Commission released a consultation paper last September on the steps required to implement the new Guernsey Financial Advice Standards (“GFAS”). C&E had identified that the introduction of GFAS would protect and enhance Guernsey’s reputation as a leading International Financial Centre, provide better value service from...
Implementation of Guernsey Financial Advice Standards ("GFAS")
The Financial Services Business (Bailiwick of Guernsey) Law, 1987, as amended (“the Financial Services Commission Law”) The Insurance Business (Bailiwick of Guernsey) Law, 2002, as amended (“the Insurance Law”) The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007, as amended (“the Regulations”) The Handbook for Financial Services...
Generali Worldwide Insurance Company Limited
The Commission would remind all companies which hold a licence from the Commission, issued after 31 July 2012 under the regulatory laws or which are registered or authorised as collective investment schemes (“funds”) under 1. below that an assurance statement under the Finance Sector Code of Corporate Governance ("the Code") must be submitted to the Commission on the first anniversary of the date...
Reminder to submit an assurance statement under the Finance Sector Code of Corporate Governance by companies licensed since 31 July 2012
Further to the news item posted on the Commission's website on 10 April, the Policy Council has made the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) (No 2) Regulations, 2013 and the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) (Amendment) (No 2) Regulations, 2013. These...
AML/CFT Legislation and Handbooks
The Commission has noted that the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 have resulted in an inaccurate cross-reference in regulation 5(1)(d) of the regulations being amended. In regulation 5(1)(d) the reference to regulation 3(1)(c) should now be to regulation 3(2)(a). The making of the Criminal Justice (Proceeds...
AML/CFT Legislation and Handbooks
The Policy Council has signed the following amendment regulations, which came into force today: The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) (Amendment) Regulations, 2013 The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (Amendment of Schedules 1 and 2) Regulations, 2013 The Criminal Justice (Proceeds of Crime) (Legal...