Please be advised the following specifications: 

have been revoked and remade under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and are still subject to shipping and trade sanctions.

The ships 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 have any business relationships linked to the ships referred to above 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         

The Commission is reminding all licensees to complete their annual verification of standing data through the Online Submissions (OS) Portal by 31 October 2026.

The annual verification process helps ensure that the basic information the Commission holds about licensees, such as addresses and contact details, remains accurate and up to date. The process was introduced as part of the Commission’s Data Transformation Programme, which includes work to improve the quality of the data we hold.

As part of this year’s annual verification process, entity records will be marked as “unverified” from 1 October 2026. Licensees should review the information held in the “Entity Details” tab of the OS Portal, update it where necessary and verify the information held. Once the information has been reviewed, licensees should select the relevant entities, click “Declare/Verify” and complete the declaration.

Guidance is available through the OS Portal and licensees can also view the supporting video.

Please be advised that the following individuals/entities: 

have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and is now subject to an Asset freeze, Travel Ban, Trust Services Sanctions, and Director Disqualification Sanction.

The individuals and entity 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/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 “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 vessels 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 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. 

Please be advised that details in respect of the following entity, which has been designated under Isil (Da’esh and Al-Qaeda (United Nations Sanctions) (EU Exit) Regulations 2019 (“the UK Regulations”), have been amended:

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 “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. 

HSC Insurance Limited (in liquidation) is no longer licensed by the Guernsey Financial Services Commission to underwrite insurance business.

Please be advised that the following entry has been revoked from the UK Sanctions List and is no longer subject to shipping sanctions:

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 £270.0 billion, a decrease over the quarter of £2.6 billion (-0.9%). Over the past year, total net asset values have decreased by just under £0.9 billion (-0.3%). 

Closed-ended Funds

Within these totals, Guernsey closed-ended funds decreased over the quarter by £4.8 billion (-2.1%) to £224.2 billion.  This represents a decrease of £2.4 billion (-1.0%) in the past year.

Open-ended Funds  

The Guernsey-domiciled open-ended sector increased over the quarter by £2.2 billion (+5.1%) to £45.8 billion.  This represents an increase of just over £1.5 billion (+3.5%) in the past year.

Guernsey Sustainable Funds

Within these totals for Guernsey funds, Guernsey Sustainable Funds held a total net asset value of £4.3 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