News

Sanctions Notice - Terrorism and Terrorist Financing

15th December 2016
HM Treasury has renewed the final designation of one entity under the Terrorist Asset-Freezing etc. Act 2010. The individual therefore remains a Designated Person for the purposes of the Act. Details of the entity are available here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/576049/TAFA_renewal_Notice_PLFP_2016.pdf Persons who are the subject of a designation under...

Sanctions Notice - Syria

15th December 2016
Council Regulation (EC) No 36/2012, as implemented by the Syria (Restrictive Measures) (Guernsey) Ordinance, 2012, the Syria (Restrictive Measures) (Alderney) Ordinance, 2012 and the Syria (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Regulation (EU) No 2016/2137. The Regulation is available here: Council Regulation (EU) 2016/2137 The effect of the amendments, which...

Sanctions Notice - North Korea

15th December 2016
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 2016/2215. The Implementing Regulation is available here...

Commission Issues Feedback on Special Purpose Insurer Rules Consultation

9th December 2016
The Guernsey Financial Services Commission has today issued feedback on comments received on its proposals to amend the framework underlying the Insurance Business (Bailiwick of Guernsey) Law 2002 (the “Law”) with the making of rules for Special Purpose Insurers and a related, minor amendment to the Insurance Business (Solvency) Rules 2015. The final version of the Insurance Business (Special...

Consultation on Revisions to the Code of Conduct for Authorised Insurance Representatives (“the Code”).

6th December 2016
The Commission is today issuing a consultation paper on revisions to the Code of Conduct for Authorised Insurance Representatives. The proposed Code clarifies the minimum standards expected to be met by an authorised insurance representative and takes into account current trading methodologies and rapidly changing and developing customer behaviours. Responses to the consultation which can be found...

Marlborough Trust Company Limited, Marlborough Nominees Limited, Mr Nicholas Robert Hannah, Mr Adrian Bradley Howe, Mr David Charles Enevoldsen, Mr Benjamin John Tustin

21st November 2016
The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 as amended ("the Financial Services Commission Law") The Regulation of Fiduciaries, Administration Businesses and Company Directors etc (Bailiwick of Guernsey) Law 2000 (“the Fiduciaries Law”) The Protection of Investors (Bailiwick of Guernsey) Law, 1987 The Banking Supervision (Bailiwick of Guernsey) Law, 1994 The Insurance...

Sanctions Notice - Syria

17th November 2016
Council Regulation (EC) No 36/2012, as implemented by the Syria (Restrictive Measures) (Guernsey) Ordinance, 2012, the Syria (Restrictive Measures) (Alderney) Ordinance, 2012 and the Syria (Restrictive Measures) (Sark) Ordinance, 2012, has been amended by Council Implementing Regulation (EU) No 2016/1996. The Implementing Regulation is available here: Council Implementing Regulation (EU) 2016/1996...

Private Investment Fund Regime Launched

16th November 2016
The Private Investment Fund Summary The Guernsey Financial Services Commission is today launching its regime for Private Investment Funds. This concludes its evaluation of the responses to the consultation process. The Commission is very grateful to all who responded and will be writing in due course to all who did so. The Applications Process The duration of the applications process would be one...