Investment

​In the second half of 2004, the Guernsey Financial Services Commission announced that it was consulting on proposals to streamline the approval process for both open and closed ended funds aimed at professional, experienced and knowledgeable investors. Following wide spread support for the proposals set out in the Commission's paper, the Commission has today introduced the new regime with...

INTRODUCTION The GFSC has been conducting an investigation into the activities of certain Guernsey-based fund managers and brokers within the split capital investment trust ("splits") sector between September 2000 and February 2002. The United Kingdom Financial Services Authority ("FSA") and the Jersey Financial Services Commission have also been conducting their own investigations into the splits...

​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...

​The Commission has today published a statement on interviews conducted under section 21B(1) of the Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended. The purpose of the statement is to set out the Commission's policy on the conduct of interviews under the Financial Services Commission Law to assist a foreign authority to carry out its functions. The statement on...

​The Guernsey Financial Services Commission conducted a consultation exercise between November 2003 and January 2004 on certain aspects of hedge fund operation. It has today published a document - Hedge Funds: Flexible Approach to Authorisation Policy - setting out the main policy conclusions it has reached from that consultation exercise. The full text of the framework policy document can be...

​ The Commission has published a revised version of Appendix C of the Guidance Notes on the Prevention of Money Laundering and Countering the Financing of Terrorism. Guernsey Financial Services Commission January 2004

18 December 2003 The Commission is issuing this statement on introduced business, in order to provide financial services businesses with a clear statement of the standard which it will adopt in the revised Guidance Notes on the Prevention of Money Laundering and Countering the Financing of Terrorism, following the introduction on 20 June 2003 of the revised Forty Recommendations by the Financial...

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...

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