News

Sanctions Notice - Russia

19th May 2022
Please be advised that the following entities have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) - PJSC Aeroflot JSC Rossiya Airlines JSC Ural Airlines 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...

VTBC Asset Management International Limited

18th May 2022
On 29 April 2022, the Guernsey Financial Services Commission, acting pursuant to powers granted to it under the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020, made an application to the Royal Court for an administration management order in relation to the Company, a company licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. The...

Sanctions Notice - Russia

13th May 2022
Please be advised that 12 individuals have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). The names of these individuals are available here: Notice_Russia_130522.pdf (publishing.service.gov.uk) The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020...

The Commission joins the Taskforce on Nature-related Financial Disclosure Forum

12th May 2022
The Commission is pleased to announce that its application for membership of the Taskforce on Nature-related Financial Disclosure (TNFD) Forum has been accepted. In joining the TNFD Forum - whose membership already includes major environmentally focused regulators such as the Bank of England and Banque de France - the Commission aims to further the Bailiwick’s aim of developing as a leading centre...

The Bailiwick’s compliance with financial sanctions

11th May 2022
The Commission has today issued its report on the thematic review of its licensees’ effectiveness in monitoring and compliance with targeted financial sanctions. The results showed that the sanctions screening systems that firms use are effective. A copy of the thematic review can be found on the Financial Crime Division's Thematic Reviews page. The Commission undertook this work in 2021 having...

VTBC Asset Management International Limited (“the Company”)

6th May 2022
On 29 April 2022, the Guernsey Financial Services Commission, acting pursuant to powers granted to it under the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020, made an application to the Royal Court for an administration management order in relation to the Company, a company licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. The...

Sanctions Notice - Russia

6th May 2022
Please be advised that Evraz PLC has been designated 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). Evraz PLC is...

Enhancing Sustainable Finance in the Bailiwick

5th May 2022
The Commission has today published a Consultation Paper proposing the introduction of a Natural Capital Fund regime. It is also, through a separate Consultation Paper, bringing forward proposals to counter the risk of greenwashing. Both Consultation Papers can be found here. Creating an Ecosystem for Natural Capital Investment The first Consultation Paper proposes the creation of a Natural Capital...

New Commissioner appointed

5th May 2022
The Commission is pleased to announce that the States of Guernsey have appointed Mr Stuart King as a new Commissioner. The vacancy arose following the retirement of Drs Cees Schrauwers. Mr King is a non-executive director at Pension Corporation, the UK pension annuity specialist, and an independent consultant. Previously Mr King was the Group Compliance Director at Aviva and a Managing Director at...