The Guernsey Financial Services Commission welcomes the announcement by the National Association of Insurance Commissioners of the Bailiwick’s application for Qualified Jurisdiction status.  We made this application in July with the support of the Guernsey International Insurance Association and the States of Guernsey.

We believe that the skills and capacity of insurers in Guernsey could help US State insurance regulators continue to deliver good outcomes for consumers in US States.  If the Bailiwick were to be Recognised the terms on which Guernsey insurers could write business into the US States would improve, thus facilitating economic growth in the Bailiwick. 

The application constitutes an important component of the Finance Sector Strategy 2035 launched by the States, Commission, Guernsey Finance and GIBA in February this year.

Insurance is regulated at a State level in the United States rather than being undertaken by the Federal Government.  Matters of mutual interest are addressed by the National Association of Insurance Commissioners (NAIC).  The NAIC’s Mutual Recognition of Jurisdictions (E) Working Group oversees the process for evaluating jurisdictions and maintains the NAIC's list of Qualified Jurisdictions and Reciprocal Jurisdictions.

Guernsey’s application sets out the Bailiwick’s regulatory framework, insurance sector, supervisory approach, cooperation arrangements and other matters relevant to the NAIC’s review process. It covers laws and regulations, regulatory practices, reinsurer performance, enforcement of final US judgments and solvent schemes of arrangement.

Guernsey is a long-established international finance centre with more than 50 years of expertise across insurance, banking, private wealth, investment and funds, pensions and sustainable finance. Financial services contributed £1.3 billion and accounted for 40% of Guernsey’s Gross Value Added in early 2025.

The Bailiwick’s insurance sector is internationally focused and includes captives, commercial general insurers, commercial reinsurers, commercial life insurers, special purpose vehicles and cell structures.

William Mason, Director General, said:

“Guernsey has a long and successful track record as an international insurance centre. The quality of our regulation was endorsed by the International Association of Insurance Supervisors through its independent assessment undertaken in 2019. We think that the skills and capacity of the Bailiwick's insurers can play a helpful role in delivering value for US consumers. We are looking forward to working with our counterparts in the NAIC over the coming months to explain Guernsey's robust and proportionate approach to insurance regulation.”

Katherine Jane, Deputy Director General (Risk and Operations), said:

“The Commission is actively engaged in international insurance supervision through the IAIS and related international regulatory forums. That international perspective is central to how we approach this work. Guernsey’s regime is based on proportionate, risk-based supervision, strong governance expectations and a clear commitment to regulatory co-operation. Those are the attributes we are seeking to evidence through the NAIC process.”

Lisa Peterson, Chief Actuary at the Guernsey Financial Services Commission, said:

“Before joining the Commission, I worked at Canada’s insurance and pensions regulator and one of the things that has struck me since working in Guernsey is how familiar many aspects of the regime feel from a North American supervisory perspective. Guernsey’s approach is proportionate and tailored to the nature of its market, but it is also grounded in the same core objectives: solvency, policyholder protection, sound governance and effective cooperation between regulators.”

The application also highlights the Commission’s statutory powers to cooperate and exchange information with insurance supervisors, including US state insurance regulators. The Commission has entered into 84 MoUs and MMoUs and has been a signatory to the IAIS Multilateral Memorandum of Understanding since November 2010.  It was also upgraded to the Enhanced Multilateral Memorandum of Understanding of IOSCO in 2024, following an US Securities and Exchange Commission-led assessment."

Please be advised that the Security Council Committee pursuant to resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da'esh) and Al-Qaida has enacted amendments in relation to the following entries on its ISIL (Da’esh) and Al-Qaida Sanctions List of individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of Security Council resolution 2734 (2024), and adopted under Chapter VII of the Charter of the United Nations:

• MOHAMMED SALAHALDIN ABD EL HALIM ZIDANE (QDi.001)
• ADEM YILMAZ na na (QDi.261)
• SHAFI SULTAN MOHAMMED SULTAN AL-AJMI (QDi.338)
• UMMAH TAMEER E-NAU (UTN) (QDi.068)

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

Changes to the UN Consolidated List are automatically effective in the UK under the Isil (Da’esh and Al-Qaeda (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 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 “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 Guernsey Financial Services Commission is introducing a series of enhancements to its website to help users more easily identify and access information.

The Commission recognises the opportunities presented by AI and other emerging technologies, both within its own operations and across the financial services sector. As AI-powered search and summarisation tools become increasingly commonplace, ensuring that online information is accurate and up-to-date has become more important than ever.

A significant focus of the enhancements has been on improving how archived material, including older versions of legislation and guidance, is categorised and displayed. Archived documents are now treated differently from live content, meaning that search engines will be less likely to return outdated information within their search results.

Archived documents now display a prominent "ARCHIVED" watermark and contain embedded metadata identifying them as historic documents. These measures are intended to help both people and automated AI tools recognise that the content is no longer current.

To provide further clarity, users opening an archived document are presented with a dedicated landing page explaining that the material has been archived before being given the option to continue. Where a newer version of a document exists, the website can also direct users to the replacement publication.

None of these measures can guarantee how every AI tool will interpret information published on the Commission’s website. However, taken together, we hope that they will mean that users, whether they arrive directly at the website or through an AI-powered service, are more likely to access the most current and up-to-date information available. The changes will take effect next week. 

The Guernsey Financial Services Commission notes the decision of the European Court of Human Rights in Strasbourg, an international court of the Council of Europe which interprets the European Convention on Human Rights, to declare Application no. 11822/25 regarding the case of Domaille and Hannis v the United Kingdom inadmissible.This application related to a long running enforcement matter concerning Mr Ian Charles Domaille and Mrs Margaret Helen Hannis which concluded earlier this summer. The decision itself can be viewed on the Court’s website here.

The Commission notes that the compatibility of its enforcement processes with Article 6 of the European Convention on Human Rights was recently considered in two regulatory appeal cases heard by the Guernsey Court of Appeal, which concluded that the Commission’s processes were compliant with Article 6.  For the avoidance of doubt, those judgments still stand following the European Court’s decision to decline to hear the application made to it by Mr Domaille and Mrs Hannis. The Commission also notes that an application for permission to appeal the Court of Appeal's judgment to the Judicial Committee of the Privy Council was unsuccessful.

Ceiba Investments Limited (“the Company”)
Registration No. 30083

NOTICE IS HEREBY GIVEN pursuant to section 82(5)(b) of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 that at 10:00am on Tuesday 18 August 2026 an application will be made to the Royal Court for an administration management order in relation to the Company.

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

1. IMO 9333591 ("ARCTIC EXPRESS") (Unique ID: RUS3702)
2. IMO 9326811 ("PERSEAS") (Unique ID: RUS3715)
3. IMO 9470131 ("TORVIAN") (Unique ID: RUS3716)
4. IMO 9402263 ("ASTERAS") (Unique ID: RUS3717)
5. IMO 9378864 ("VISUND") (Unique ID: RUS3718)
6. IMO 9346885 ("ZENTURO") (Unique ID: RUS3719)

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 the following individual: 

• Aleksander Aleksandrovich ZHDANOV (Unique ID: RUS3708)

has 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.

Please be advised that the following entities: 

• NORTHERN ENGINEERING LIMITED LIABILITY COMPANY (Unique ID: RUS3701)
• FRION SHIP MANAGEMENT LLP (Unique ID: RUS3703)

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

The following entities:

• LLC METALLKOMPLEKT (Unique ID: RUS3704)
• LLC NIKOM (Unique ID: RUS3705)
• LLC PROMSIZ (Unique ID: RUS3706)
• LLC TECHNOLUX (Unique ID: RUS3707)

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

The following entities: 

• LIMITED LIABILITY COMPANY "OZON BANK" (Unique ID: RUS3709)
• STATE SPECIALIZED RUSSIAN EXPORT-IMPORT BANK (JOINT-STOCK COMPANY) (Unique ID: RUS3710)
• PJSC COMMERCIAL BANK "CENTER-INVEST" (Unique ID: RUS3711)
• JOINT STOCK COMPANY REALIST BANK (Unique ID: RUS3712)
• PJSC BANK STAVR (Unique ID: RUS3713)
• JOINT STOCK COMPANY TELEPORT BANK (Unique ID: RUS3714)

have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and are now subject to an Asset freeze, Trust Services Sanctions, Director Disqualification Sanction, and Prohibition on correspondent banking relationships and processing payments.

The individual and 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.

The Guernsey Financial Services Commission has welcomed the appointment of the Bailiwick’s first Finance Sector Concierge.

Business leader Peter Deacon, a former vice president at J.P. Morgan in Hong Kong, who has long-term personal and business connections with the Bailiwick, started in the role on 1 August.

The position was created following a recommendation in Guernsey’s Finance Sector Growth Strategy 2035 and is intended to provide a single point of contact for businesses, investors and advisers considering Guernsey at an early stage.

The Concierge will work in partnership with Guernsey Finance, Locate Guernsey and the Guernsey Financial Services Commission, and with the Bailiwick’s professional firms.

Alice Joy, Director of External Affairs at the Guernsey Financial Services Commission, welcomed Mr Deacon’s appointment: “The best conversations about regulation often happen before an application is written in stone. With his broad mix of commercial, digital and policy experience, Peter as concierge can help businesses understand Guernsey earlier and arrive at the Commission with well-formed plans and realistic expectations. That is good for them, good for the Bailiwick and good for sound regulation.”

Read the full story on the States of Guernsey website here. 

Please be advised that the Security Council Committee pursuant to Resolution 1988 (2011) concerning the Taliban have enacted amendments to the entries specified below on its Sanctions List:

• Hamdullah NOMANI (Unique ID: AFG0039)
• Abdul-Haq WASSIQ (Unique ID: AFG0062)
• Noor Mohammad SAQIB (Unique ID: AFG0088)
• Jalaluddin HAQQANI (Unique ID: AFG0036)
• Gul Agha ISHAKZAI (Unique ID: AFG0115)

The individuals above remain subject to an asset freeze, arms embargo and travel ban set out in paragraph 1 of Security Council resolution 2816 (2026).

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.