News

Beijing, People's Republic of China: The Director General of the Guernsey Financial Services Commission (GFSC), William Mason, and the Director General of the China Insurance Regulatory Commission CIRC), Mr Jiang Bo, have today signed a Memorandum of Understanding (MoU). The signing ceremony was also attended by Guernsey's Deputy Chief Minister, Deputy Lyndon Trott and the CIRC Vice-Chairman, Mr...

Mr Galliers was a director and shareholder of an insurance intermediary licensed under The Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002. Mr Galliers was convicted in March 2016 of 10 counts of fraud by abuse of position contrary to sections 1, 4 and 5 of The Fraud (Bailiwick of Guernsey) Law, 2009 and sentenced to 3 years imprisonment. On 10 March 2017 the...

United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendments, which are automatically effective in the Bailiwick, is to remove one entity from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendments are...

Council Regulation (EU) No 356/2010 of 26 April 2010, as implemented in the Bailiwick by the Somalia (Restrictive Measures) (Guernsey) Ordinance, 2011, the Somalia (Restrictive Measures) (Alderney) Ordinance, 2011 and the Somalia (Restrictive Measures) (Sark) Ordinance, 2011, has been amended by Council Implementing Regulation (EU) 2017/395. The Implementing Regulation is available here: Council...

The EU has expanded on the sanctions regime imposed by Council Regulation (EC) No 329/2007, as implemented in the Bailiwick by the North Korea (Restrictive Measures) (Guernsey) Ordinance, 2007, the North Korea (Restrictive Measures) (Alderney) Ordinance, 2007, and the North Korea (Restrictive Measures) (Sark) Ordinance, 2007. These amendments are automatically and immediately effective in the...

Council Regulation (EU) 208/2014, as implemented by the Ukraine (Restrictive Measures) (Guernsey) Ordinance 2014, the Ukraine (Restrictive Measures) (Alderney) Ordinance 2014 and the Ukraine (Restrictive Measures) (Sark) Ordinance 2014, has been amended by Council Implementing Regulation (EU) No 2017/ 374. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove...

Council Regulation (EC) No 765/2006, as implemented in the Bailiwick by the Belarus (Freezing of Funds) (Guernsey) Ordinance, 2012, the Belarus (Freezing of Funds) (Alderney) Ordinance, 2012 and the Belarus (Freezing of Funds) (Sark) Ordinance, 2012, has been amended by Council Regulation (EU) No 2017/331. The Regulation is available here: Council Regulation (EU) 2017/331 The effect of the...

The Guernsey Financial Services Commission has today issued feedback on comments received on its proposals to amend the Code of Conduct for Authorised Insurance Representatives (“the Code”). The Commission has also published the final version of the Code, which will come into effect on 1 April 2017 - this is available to read via the following link: Code of Conduct for Authorised Insurance...

This Notice is issued to advise businesses that the Policy & Resources Committee has made the Terrorism and Crime (Bailiwick of Guernsey) Law, 2002 (Proscribed Organisations) (Amendment) Regulations, 2017. The regulations amend the list of organisations that are proscribed for the purposes of the Terrorism and Crime (Bailiwick of Guernsey) Law, 2002. A copy of the regulations can be found here