Please be advised that the following entry has been corrected on the Global Human Rights Sanctions Regulations 2020 (the UK regulations):

• BSQUARE TECHNOLOGY CO. LTD. (Unique ID: GHR0183)

The entity above remains subject to an Asset Freeze and 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 entity 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 the Security Council Committee pursuant to Resolution 1988 concerning the Taliban have enacted amendments to the entries specified below on its Sanctions List:

• Khalil Ahmed HAQQANI (TAi.150)
• Abdul Rauf ZAKIR (TAi.164)
• HAJI KHAIRULLAH HAJI SATTAR MONEY EXCHANGE (TAe.010)

The United Nations Security Council Consolidated List has been updated and is accessible here.

The changes to the UN Consolidated List are automatically effective in the UK under the Afghanistan (Sanctions) (EU Exit) Regulations 2020 (“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 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 “Afghanistan 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 entry has been amended on the Global Human Rights Sanctions Regulations 2020 (the UK regulations) and is still subject to an asset freeze and director disqualification:

• TIAN XU INTERNATIONAL TECHNOLOGY PLC (Unique ID: GHR0182)

The entity referred to above appears on the consolidated 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 entity 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 the Security Council Committee pursuant to Resolution 1988 concerning the Taliban have enacted amendments to the entries specified below on its Sanctions List:

• Mohammad Hassan AKHUND (TAi.002)
• Abdul Ghani Baradar ABDUL AHMAD TURK (TAi.024)
• Amir Khan MOTAQI (TAi.026)
• Gul Agha ISHAKZAI (TAi.147)

The United Nations Security Council Consolidated List has been updated and is accessible here.

The changes to the UN Consolidated List are automatically effective in the UK under the Afghanistan (Sanctions) (EU Exit) Regulations 2020 (“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 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 “Afghanistan 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.

The Guernsey Financial Services Commission has become aware of fake documents that have been issued in the Commission’s name and used in support of an advance fee fraud scheme.  The fake documents are titled “Financial Regulatory Due Diligence / Financial Provenance Clearance”.  The fraud scheme involves a fake law firm using the name Flaven Law Chambers and a fake bank using the name ApexKrest Bank, both of which falsely purport to be Guernsey based entities.  Steps are being taken to close the associated offending websites. 

Anyone who has dealt with the above-referenced entities is encouraged to contact the Commission’s Intelligence Team for further guidance.

Please be advised that the Security Council Committee pursuant to Resolution 1267 (1999), 1989 (2011) and 2253 (2015), concerning ISIL (Da’esh) and Al-Qaida have approved the addition of the following entry to its Sanctions List of individuals and entities subject to the measures imposed by the Security Council and adopted under Chapter VII of the Charter of the United Nations:

• Hamidah NABAGALA (QDi.439)

The United Nations Security Council Consolidated List has been updated and is accessible here.

The changes to the UN Consolidated List are automatically effective in the UK under the ISIL (Da’esh) and Al-Qaida (United Nations 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 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 “ISIL (Da’esh) and Al-Qaida 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 individuals have been designated under the ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and are now subject to an asset freeze, travel ban and arms embargo:

• SAMI JASIM MUHAMMAD JAATA AL-JABURI (AQD0389)
• ABD EL HAMID SALIM IBRAHIM BRUKAN AL-KHATOUNI (AQD0390)

The individuals 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 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 “ISIL (Da’esh) and Al-Qaida 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.

The Commission notes that the Court of Appeal handed down a judgment relating to the Commission’s powers to issue a public statement. The Court of Appeal allowed the Commission’s appeal on five of the six grounds advanced.  The Court of Appeal set aside the Royal Court’s judgment and reinstated the Senior Decision Maker’s decision to issue the public statement in the terms originally proposed. 

The Commission has today issued its report on its first thematic review conducted under the Lending, Credit and Finance regime.  The thematic review focused specifically on motor finance, assessing how well firms are complying with the new regulatory regime since it came into full effect in July 2023. 

‘Motor finance’, in the context of the thematic, refers to the various loans and credit agreements that help individuals to spread the cost of buying vehicles such as cars, motorbikes or scooters for their personal use.  In the Bailiwick, motor finance agreements commonly take the form of personal loans, hire purchase (HP), HP with a balloon payment and personal contract purchase (PCP) agreements.  

Included in the scope were two main types of firm – credit providers (or lenders) and credit brokers (usually motor traders or garages), who arrange loans on their customers’ behalf during the process of selling a vehicle.

As part of the thematic, a public survey was launched to gather the public’s personal experiences of obtaining motor finance in the Bailiwick. 

Alongside the survey, questionnaires were sent to lenders and brokers, desk-based reviews were undertaken, and 15 onsite visits were conducted, which provided a comprehensive picture of industry practice.

The findings of the thematic were broadly positive, with most firms demonstrating their commitment to meeting the requirements of the LCF legislation and embedding fair treatment of customers within their practices.  The key findings were as follows:

• Generally, firms are treating customers fairly
• Firms no longer use discretionary commissions arrangements, although improvements must be made to commissions disclosure processes
• Firms take into account the individual circumstances of those customers in arrears and consider a range of appropriate forbearance options
• Firms are generally providing their customers with the loan APR, in accordance with the Rules
• Motor finance advertising is generally clear, but compliance with the LCF Rules is inconsistent
• The information provided by firms to customers could be improved, to ensure that it is complete and (where relevant) accessible
• The quality of customer records held by motor traders could be enhanced

Looking ahead, where issues have been identified, we will work with firms through our ongoing supervision, to ensure that any necessary improvements are made.

A copy of the thematic review is available here or via the Commission’s Legislation and Guidance page under the ‘Thematic Reviews’ heading.  More information can also be found on the consumer pages on our website.

We would like to take the opportunity again to thank everyone who participated in the public survey.

Finally, we would also like to thank all participating firms for their cooperation throughout this process. Their engagement was instrumental in facilitating this assessment of industry practices.