The Guernsey Financial Services Commission has welcomed Guernsey’s recognition at the WealthBriefing Wealth for Good Awards 2026, where the island won the Sustainability Programme (UK) category.

The award recognises leadership in sustainable and responsible investment and reflects the collective work of the island’s government, industry and the regulator in developing a credible sustainable finance ecosystem.

The Commission has supported this development through regulatory initiatives designed to encourage credible sustainable finance products and give investors confidence that sustainability claims are subject to clear standards and verification.

That included the world’s first regulated green fund regime, the Guernsey Green Fund, and has since been expanded through the Natural Capital Fund, which provides a regulated designation for investment schemes that make a positive contribution to the natural world or significantly reduce harm to nature.

The Commission has also used this approach in insurance, introducing a green capital regime to encourage investment in suitable green assets by life insurers.

Alongside these initiatives, Guernsey has a wider track record in humanitarian catastrophe bonds, reinsurance structures and responsible captive insurance structures.

The Commission congratulates all those whose work contributed to Guernsey’s award success.

Judging for the WealthBriefing awards is conducted by expert panels drawn from banks, family offices and trusted advisors/consultants.

A new podcast from the Guernsey Financial Services Commission offers an audio companion to the Commission’s recently published 2025 Annual Report.

Produced by the Commission’s Technology Innovation Unit, the podcast uses AI-generated scripting, voices and music to help make the report and financial statements easier to explore.

The podcast takes listeners through the highlights of the Commission’s 2025 annual report, including progress on digital finance and a continued investment in technology alongside work to support innovation.

The report in full is available here

Please be advised that the following individuals/entities have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations): 

The individuals/entities referred to above appear on the UK sanctions list, which can be found here.

The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the individuals/entities referred to above or to any other natural or legal person, entity or body designated under the legislation referred to above and must treat any funds, other assets or economic resources

• directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
• that comprise interest, dividends or other forms of property derived from any funds or economic resources that belong to them or are owned, held or controlled by them, whether directly or indirectly and wholly or jointly, or
• belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of

• any designated person, entity or body
• any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
• any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.

Any information or queries should be sent to sanctions@gov.gg with the subject line “Russia Sanctions”.

Where you have identified an affected relationship as set out above, please also inform the Guernsey Financial Services Commission via email to amlcft@gfsc.gg providing short form information on the nature of the sanction connection and the measures you have taken or intend to take.

Handbook Rule 12.37, requires that, where you have identified an affected relationship as set out above, the firm must provide a report to the Commission which sets out, as a minimum: a) the name of the customer, beneficial owner, key principal or the transaction and/or asset linked to a sanctioned/designated person; and b) the nature of the business relationship or occasional transaction, including the transaction and/or asset value.

This report should be provided to the Commission as soon as reasonably practicable after the firm has met the statutory reporting requirements to the States of Guernsey Policy and Resources Committee.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions.

Please be advised that the following ships have been specified under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations):

The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they have any business relationships linked to these ships and familiarise themselves with the obligations applicable. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.

Any information or queries should be sent to sanctions@gov.gg with the subject line “Russia Sanctions - Ships”.

Where you have identified an affected relationship as set out above, please also inform the Guernsey Financial Services Commission via email to amlcft@gfsc.gg providing short form information on the nature of the sanction connection and the measures you have taken or intend to take.

Handbook Rule 12.37, requires that, where you have identified an affected relationship as set out above, the firm must provide a report to the Commission which sets out, as a minimum: a) the name of the customer, beneficial owner, key principal or the transaction and/or asset linked to a sanctioned/designated person; and b) the nature of the business relationship or occasional transaction, including the transaction and/or asset value.

This report should be provided to the Commission as soon as reasonably practicable after the firm has met the statutory reporting requirements to the States of Guernsey Policy and Resources Committee.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions.

We note the decisions of the Judicial Committee of the Privy Council in this long running matter concerning former Providence directors, copies of which can be found here and here. The matter now reverts to the Royal Court for its consideration of the guidance issued to it by the Court of Appeal in its judgement of 3 October 2025. 

Please be advised that the following have been added to the list of individuals and entities who are currently designated under the Global Human Rights Sanctions Regulations 2020 (the UK regulations):

The persons/entities referred to above appear on the UK Sanctions list, which can be found here.

The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the persons referred to above or to any other natural or legal person, entity or body designated under the legislation referred to above and must treat any funds, other assets or economic resources

• directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
• that comprise interest, dividends or other forms of property derived from any funds or economic resources that belong to them or are owned, held or controlled by them, whether directly or indirectly and wholly or jointly, or
• belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of

• any designated person, entity or body
• any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
• any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.

Any information or queries should be sent to sanctions@gov.gg with the subject line “Global Human Rights Sanctions”.

Where you have identified an affected relationship as set out above, please also inform the Guernsey Financial Services Commission via email to amlcft@gfsc.gg providing short form information on the nature of the sanction connection and the measures you have taken or intend to take.

Handbook Rule 12.37, requires that, where you have identified an affected relationship as set out above, the firm must provide a report to the Commission which sets out, as a minimum: a) the name of the customer, beneficial owner, key principal or the transaction and/or asset linked to a sanctioned/designated person; and b) the nature of the business relationship or occasional transaction, including the transaction and/or asset value.

This report should be provided to the Commission as soon as reasonably practicable after the firm has met the statutory reporting requirements to the States of Guernsey Policy and Resources Committee.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions.

Please be advised that details in respect of the following individuals and entities, which are designated under The Russia (Sanctions) (EU Exit) Regulations 2019, have been varied on the UK Sanctions List.

• Ahmed KERIMOV (Unique ID: RUS2529)
• Talat SAFAROV (Unique ID: RUS2531)
• Anar MADATLI (Unique ID: RUS2532)

The above individuals are still subject to Asset freeze, Travel Ban, Trust Services Sanctions, Director Disqualification Sanction and Transport Sanction and appear on the UK sanctions list, which can be found here.

• 2RIVERS PTE LTD (Unique ID: RUS2380)
• 2RIVERS DMCC (Unique ID: RUS2381)

The above entities are still subject to Asset freeze, Trust Services Sanctions, Director Disqualification Sanction and Transport Sanction and appear on the UK sanctions list.

The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the individuals/entities referred to above or to any other natural or legal person, entity or body designated under the legislation referred to above and must treat any funds, other assets or economic resources

• directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
• that comprise interest, dividends or other forms of property derived from any funds or economic resources that belong to them or are owned, held or controlled by them, whether directly or indirectly and wholly or jointly, or
• belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of

• any designated person, entity or body
• any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
• any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.

Any information or queries should be sent to sanctions@gov.gg with the subject line “Russia Sanctions”.

Where you have identified an affected relationship as set out above, please also inform the Guernsey Financial Services Commission via email to amlcft@gfsc.gg providing short form information on the nature of the sanction connection and the measures you have taken or intend to take.

Handbook Rule 12.37, requires that, where you have identified an affected relationship as set out above, the firm must provide a report to the Commission which sets out, as a minimum: a) the name of the customer, beneficial owner, key principal or the transaction and/or asset linked to a sanctioned/designated person; and b) the nature of the business relationship or occasional transaction, including the transaction and/or asset value.

This report should be provided to the Commission as soon as reasonably practicable after the firm has met the statutory reporting requirements to the States of Guernsey Policy and Resources Committee.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions.

Please be advised that details in respect of the following individual:

• Liran COHEN (Unique ID: RUS3607)

who is designated under The Russia (Sanctions) (EU Exit) Regulations 2019, have been varied on the UK Sanctions List.

The above individual is still subject to Asset freeze, Travel Ban, Trust Services Sanctions, Director Disqualification Sanction and appears on the UK sanctions list, which can be found here.

The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the individual referred to above or to any other natural or legal person, entity or body designated under the legislation referred to above and must treat any funds, other assets or economic resources

• directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
• that comprise interest, dividends or other forms of property derived from any funds or economic resources that belong to them or are owned, held or controlled by them, whether directly or indirectly and wholly or jointly, or
• belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of

• any designated person, entity or body
• any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
• any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.

Any information or queries should be sent to sanctions@gov.gg with the subject line “Russia Sanctions”.

Where you have identified an affected relationship as set out above, please also inform the Guernsey Financial Services Commission via email to amlcft@gfsc.gg providing short form information on the nature of the sanction connection and the measures you have taken or intend to take.

Handbook Rule 12.37, requires that, where you have identified an affected relationship as set out above, the firm must provide a report to the Commission which sets out, as a minimum: a) the name of the customer, beneficial owner, key principal or the transaction and/or asset linked to a sanctioned/designated person; and b) the nature of the business relationship or occasional transaction, including the transaction and/or asset value.

This report should be provided to the Commission as soon as reasonably practicable after the firm has met the statutory reporting requirements to the States of Guernsey Policy and Resources Committee.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions.

Please be advised that the following specification has been revoked from the UK Russia financial sanctions regime. This entity is no longer subject to UK sanctions.

• Limited Liability Company responsibility of “RBRU Specialized Depository” (Unique ID: RUS2682)

The UK sanctions list has been updated and can be found here.

The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions.

Guernsey Funds  

The total net asset value of Guernsey funds at the end of the quarter was £272.6 billion, a decrease over the quarter of £0.2 billion (-0.1%). Over the past year, total net asset values have decreased by £6.0 billion (-2.2%). 

Closed-ended Funds

Within these totals, Guernsey closed-ended funds increased over the quarter by £4.5 billion (+2.0%) to just under £229.0 billion.  This represents a decrease of £3.8 billion (-1.6%) in the past year.

Open-ended Funds  

The Guernsey-domiciled open-ended sector decreased over the quarter by £4.8 billion (-9.9%) to £43.6 billion.  This represents a decrease of £2.3 billion (-5.0%) in the past year.

Guernsey Sustainable Funds

Within these totals for Guernsey funds, Guernsey Sustainable Funds held a total net asset value of £4.4 billion at the end of the quarter.

The statistics are available here.

Enquiries to: Andrew Dempster, Deputy Director, Investment, Fiduciary and Pension Division

Tel: (01481) 712706   International Dialling Code: +44 1481   Email: adempster@gfsc.gg