News

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

This Notice is issued further to a previous Sanctions Notice issued in relation to the amendment of the details concerning four individuals (the listed persons) on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that a corresponding change has now been made to the list maintained by the European...

The United Nations Security Council has added four individuals (“the listed persons”) to the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the UN list are subject to restrictive measures which include targeted financial sanctions. Further information is available here: https://www.un.org/press/en/2017...

The Commission has just published guidance on whether individuals acting as directors need to obtain a personal fiduciary licence, which can be accessed by following this link.

HM Treasury has renewed the final designation of three individuals under the Terrorist Asset-Freezing etc. Act 2010. The individuals therefore remain Designated Persons for the purposes of the Act. Details of the individuals are available here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/594303/TAFA_renewal_notice_23022017.pdf Persons who are the subject of a...

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 amendment, which is 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 amendment are...

This Notice is issued further to a previous Sanctions Notice issued in relation to the amendment of the details concerning four individuals (the listed persons) on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that a corresponding change has now been made to the list maintained by the European...

The Commission would like to draw attention to the recent publication of HMT’s feedback report on its consultation on transposition of MIFID II. https://www.gov.uk/government/consultations/transposition-of-the-markets-in-financial-instruments-directive-ii In particular firms are asked to note the determination of the UK not to implement the branching requirement as outlined in Article 39 of the...