Investment

The Commission has today, issued in final form, the revised Handbook on Countering Financial Crime and Terrorist Financing. This follows the approval of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Regulations, 2019 by the States of Guernsey on 12 June 2019. These amendments introduce an activation date of 31 March 2019 for the application of measures relating to...

First Quarter 2019 Investment Funds The net asset value of total funds under management and administration has decreased in Sterling terms during the quarter ended 31 March 2019 by £1.3 billion (0.5%) to £280.4 billion. For the year since 31 March 2018, total net asset values increased by £17.9 billion (6.8%). Open-ended Funds Within these totals, Guernsey domiciled open-ended funds remained...

The Commission has today issued its report on the thematic review of beneficial ownership of Guernsey and Alderney legal persons managed or administered by fiduciary licensees. The review was undertaken during the latter part of 2018 and the early part of 2019. A copy of the thematic review can be found by clicking on the following link: Beneficial Ownership of Guernsey and Alderney Legal Persons...

On 30 October 2015, the States of Deliberation approved a Policy Letter submitted by the Policy Council which recommended that the regulatory laws should be updated to reflect current international standards. Representatives of the States of Alderney and the Chief Pleas of Sark had previously indicated their support for the proposals which followed a major public consultation process. More...

The Commission has today issued, in final form, the revised Handbook on Countering Financial Crime and Terrorist Financing. This follows the approval of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2018 by the States of Guernsey during December 2018. The revisions to the rules and guidance in the Handbook, together with the revised legislation, bring the...

Fourth Quarter 2018 Investment Funds The net asset value of total funds under management and administration has increased in Sterling terms during the quarter ended 31 December 2018 by £1.7 billion (0.6%) to £281.7 billion. For the year since 31 December 2017, total net asset values increased by £11.7 billion (4.3%). Open-ended Funds Within these totals, Guernsey domiciled open-ended funds...

The Guernsey Financial Services Commission (“GFSC”) announced on 7 August 2018 its participation in the Global Financial Innovation Network (“GFIN”) ( link to news story) and today GFIN has published two documents: 1) A Press Release confirming the GFIN’s functions and the opening of a 1-month application window for Cross-Border testing 2) GFIN’s Terms of Reference for Membership and Governance...

GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2019 All businesses, entities and individuals licensed by or registered with the Guernsey Financial Services Commission are reminded that the payment of annual fees to the Commission are due by 31 January 2019. Where applicable, a late payment penalty fee will be applied for payments received after the due date in accordance with Regulation 2 of...

REVISED FORMS 142, 143, 145 & GUIDANCE The Commission has revised the information requested in the annual licensee return 142. Investment Audited Financial Statements and Compliance Returns (Licensee). Specific revisions are also reflected in 143. Investment Audited Financial Statements (Funds) and 145. Investment Quarterly Return. These revisions are in response to feedback from industry, with...