News

The Commission is today issuing Instruction Number 01/2017 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 02/2016 issued on 1 August 2016. Haiti has been included within the Instruction following concerns identified by the Caribbean Financial Action Task Force as a result of an evaluation during April 2015. Firms must ensure that enhanced customer due...

GUERNSEY FINANCIAL SERVICES COMMISSION ANNUAL FEES 2017 All businesses, entities and individuals licensed by or registered with the Guernsey Financial Services Commission are reminded that the payment of annual fees to the Commission are due by 31 January 2017. If payment is received after the due date a late payment penalty fee will be applied in accordance with Regulation 2 of the Financial...

As you may have seen, there has been extensive media coverage in recent weeks about different types of scams currently targeting local residents. You are reminded to be vigilant about any requests for your personal security information, as scammers can be very convincing. In addition, if you ever receive an SMS or email asking you to contact your bank, you should always do so using the phone...

Please be advised that the United Nations Security Council has amended the details in respect of one individual ("the listed person") on the list of persons associated with ISIL (Da'esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to restrictive measures which include targeted financial sanctions. Further details are available...

The consultation period for amendments to the Licensee (Conduct of Business) Rules has now ended and the new rules have now been published. A link to the Investment Legislation and Guidance page can be found here.

Council Regulation (EU) No 267/2012, as implemented in the Bailiwick by the Iran (Restrictive Measures) (Guernsey) Ordinance, 2012, the Iran (Restrictive Measures) (Alderney) Ordinance, 2012 and the Iran (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Regulation (EU) No 2017/77. The Implementing Regulation is available here: Council Implementing Regulation (EU) 2017/77...

NORTH KOREA Council Regulation (EU) 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, has been amended by Commission Implementing Regulation (EU) No 2017/80. The Implementing Regulation is available...

Third Quarter 2016 Investment Funds The net asset value of total funds under management and administration has increased in Sterling terms over the quarter ended 30 September 2016 by £2 billion (0.9%) to £249.4 billion. For the year since 30 September 2015, total net asset values increased by £24.6 billion (10.9%) . Open-ended Funds Within these totals Guernsey domiciled open-ended funds increased...

TERRORISM AND TERRORIST FINANCING HM Treasury has renewed the final designation of one individual under the Terrorist Asset-Freezing etc. Act 2010. The individual therefore remains a Designated Person for the purposes of the Act. Details of the individual are available here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/582358/TAFA_renewal_Notice_KSM_2017.pdf Persons...