News

Please be advised that the United Nations Security Council has deleted one individual from the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. The United Nations Security Council has also updated the details in respect of one individual on the list. All persons on the list are subject to restrictive measures which include...

Council Regulation (EU) 833/2014, as implemented by the Russian Federation (Restrictive Measures) (Guernsey) Ordinance 2014, the Russian Federation (Restrictive Measures) (Alderney) Ordinance 2014 and the Russian Federation (Restrictive Measures) (Sark) Ordinance 2014, has been amended by Council Regulation (EU) No 2017/ 2212. The effect of the amendments, which are automatically effective in the...

Council Regulation (EU) No 377/2012, as implemented in the Bailiwick by the Republic of Guinea-Bissau (Restrictive Measures) (Guernsey) Ordinance, 2012, the Republic of Guinea-Bissau (Restrictive Measures) (Alderney) Ordinance, 2012 and the Republic of Guinea-Bissau (Restrictive Measures) (Sark) Ordinance 2012, has been amended by Council Implementing Regulation (EU) 2018/31. The Implementing...

The Commission has issued an FAQ to those considering investing in Bitcoins or Bitcoin related investments. It can be found here.

To enable the Guernsey Financial Services Commission ("the Commission") to regulate and supervise Pension Schemes and Gratuity Schemes ("Schemes"), the Commission requires 1 relevant Licensees 2 to complete the following regular data returns: With effect from the quarter ending 31 March 2018 the Commission will require the completion of a quarterly scheme return for Schemes within scope of the...

The Commission is today issuing Instruction Number 04/2017 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 03/2017 issued on 20 July 2017. Changes to instruction 03/2017 include the removal of Uganda and the addition of Sri Lanka, Trinidad and Tobago and Tunisia. Further details in respect of these changes can be found within Part B of the Instructions. The...

Venezuela (Restrictive Measures) (Guernsey) Ordinance, 2017 The Venezuela (Restrictive Measures) (Guernsey) Ordinance, 2017 has been made to give effect to Council Regulation (EU) 2017/2063 concerning restrictive measures in relation to Venezuela. The effect of the Regulation is to introduce export restrictions in respect of arms, surveillance equipment or equipment that could be used for domestic...

The Pension Licensees (Conduct of Business) & Domestic and International Pension Scheme and Gratuity Scheme Rules (No.2) 2017 were issued by the Commission on 25 August 2017. The Commission has been engaging recently with the Guernsey Association of Pension Providers ("GAPP") and GAPP has agreed to ask its members for feedback on whether any improvements could be made to the Rules. All suggestions...

Licensees are reminded that where a Licence is held at as at 1 January 2018 and no request has been received by the Commission by close of business on 31 December 2017 to cancel or surrender that licence, then the (non-refundable) annual licence fee for 2018 will be payable by the licensee. Likewise, where no request to suspend or revoke the authorisation or registration of a collective investment...