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GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2017 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 2017. If payment is received after the due date a late payment penalty fee will be applied in accordance with Regulation 2 of the Financial...

The Commission has today issued an FAQ for legal professionals as a result of the recent changes to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999. The FAQ has been created to assist legal professionals in determining whether or not a particular service they offer is within the scope of the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and...

The Commission wishes to remind all financial services and prescribed businesses, together with personal fiduciary licence holders, that the Financial Crime Risk Return is due for submission by 31 October 2016. The Return can be found through the Commission’s Online Submissions Portal, located here: https://submit.gfsc.gg/ Further information on the background to the Return, as well as guidance on...

United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove nineteen entities from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendment are...

​ISIL (DA’ESH) AND AL-QAIDA NETWORK This Notice is issued further to a previous Sanctions Notice issued in relation to the updating of information about an individual on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267 (the listed person). Please be advised that a corresponding change has now been made to the list...

Iraq United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove one entity from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendment are...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended ("the Financial Services Commission Law") The Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended ("the Protection of Investors Law") The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended ("the Fiduciaries Law") The Banking...

CENTRAL AFRICAN REPUBLIC Council Regulation (EU) 224/2014, as implemented in the Bailiwick by the Central African Republic (Restrictive Measures) (Guernsey) Ordinance, 2014, the Central African Republic (Restrictive Measures) (Alderney) Ordinance, 2014 and the Central African Republic (Restrictive Measures) (Sark) Ordinance, 2014, has been amended by Council Implementing Regulation (EU) No 2016...

The Commission is today issuing a discussion paper seeking feedback on a number of regulatory proposals for firms involved in lending, credit and finance. Please click here for a copy. The Bailiwick does not currently have consumer lending and credit regulation. The Commission is concerned that this may lead to consumers being at risk of not being treated appropriately and a lack of certainty with...