Insurance

​The Commission has prepared draft Bailiwick anti-money laundering and counter terrorist financing legislation on wire transfers to ensure that BACs can continue to be used by firms in the Islands for transfers between the Islands and the UK. The draft Transfer of Funds (Guernsey/Alderney/Sark) Ordinance, 2007 is available here (PDF, 55 Kb). A draft of chapter 7 of the Commission’s proposed AML...

​It has come to the Commission' s attention that this company may have been issuing travel insurance policies. This company is in Compulsory Liquidation and information relevant to policyholders, brokers/master policyholders and selling agents is available by clicking here.

​It has come to the Commission' s attention that this company may have been issuing travel insurance policies. This company is not licensed by the Commission to sell or provide insurance.

​Parliamentary Ombudsman Confirms Guernsey Policyholders Covered by Investigation In our press release of 21 February 2005 we indicated that the Commission had made a submission to Iain Ogilvie who is conducting the investigation into the regulation of Equitable Life Assurance Society ("Equitable Life") on behalf of the Parliamentary Ombudsman, that Guernsey policyholders should be covered by the...

27 April 2005 Representatives of the finance sector in Guernsey have requested clarification of the Commission's policy on certain aspects of introduced business. Accordingly, following consultation with the Joint Money Laundering Steering Group, the Commission has today issued Statement No. 2 on introduced business to the finance sector. Enquiries should be made to: Sylvia Sirett Senior Analyst...

​Please click here for a copy of the press release.

​"Recently the Parliamentary Ombudsman (PO) has reopened her enquiry into Equitable. The Commission is currently in correspondence with the PO to clarify the position of Guernsey policyholders in relation to this enquiry." Peter Neville, Director General, GFSC The Commission will advise of any further developments via this Website.

​The document can be accessed here.

​Press Release - Anti-Money Laundering Standards for Existing Customers 30 June 2004 Following the issue of revised Recommendations by the Financial Action Task Force in 2003, the Commission has issued a statement on anti-money laundering standards for existing customers (available here as a PDF document). The statement requires financial services businesses to assess the risk of each business...