News

Willow Trust Limited

19th June 2014
The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (“the Financial Services Commission Law”) The Regulation of Fiduciaries, Administration Businesses, Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended (“the Fiduciaries Law”) The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (“the...

Amendment to Council Regulation (EC) 881/2002 by Regulation (EU) No 630/2014 of 13 June 2014

17th June 2014
Please be advised that Council Regulation (EC) 881/2002 imposing financial sanctions against certain persons and entities associated with the Al-Qaida network and implemented in the Bailiwick by the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, Al-Qaida (Restrictive Measures) (Alderney ) Ordinance, 2013 and the Al-Qaida (Restrictive Measures) (Sark) Ordinance, 2013, has been amended...

Amendment to Council Regulation (EC) 881/2002 by Regulation (EU) No 583/2014 of 28 May 2014

17th June 2014
​Please be advised that Council Regulation (EC) 881/2002 imposing financial sanctions against certain persons and entities associated with the Al-Qaida network and implemented in the Bailiwick by the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, Al-Qaida (Restrictive Measures) (Alderney ) Ordinance, 2013 and the Al-Qaida (Restrictive Measures) (Sark) Ordinance, 2013, has been amended...

Financial Crime Supervision & Policy Division

16th June 2014
The Commission has today announced changes to its Financial Crime Division. It was created in July of last year and Samantha Sheen was appointed as Head of the Division. The Commission’s Director General, William Mason, explained the changes. “ The Division is now regarded as a front line unit of equivalent status to the Commission’s other supervision and policy divisions. We have therefore...

Commission releases Financial Crime Guidance Note – Visit Trends and Observations

10th June 2014
The Financial Crime Supervision & Policy Division has prepared a Guidance Note (“Note”) following analysis of both the results of onsite visits undertaken by the Commission since 2012 and trends identified from financial crime assessments undertaken at local and international level. This Note is intended to further assist businesses in understanding the Commission’s expectations in relation to...

Appointment of New Director of Investment Supervision and Policy Division

9th June 2014
The Commission has announced the appointment of Emma Bailey as the new Director of the Investment Supervision and Policy Division. She will take up her new role in August when the current Director, Carl Rosumek, leaves the Commission. William Mason, Director General, said “I am very pleased that we have been able to appoint Emma to this very important position which follows a rigorous internal...

Instruction No. M 01/2014 for Financial Services Businesses and Instruction No. M 01/2014 for Prescribed Businesses

3rd June 2014
​The Commission is today issuing Instruction Number M 01/2014 for Financial Services Businesses and Instruction Number M 01/2014 for Prescribed Businesses, copies of which can be accessed from the FC&A section of the Commission's website: Instruction M 01/2014 for Financial Services Businesses and Instruction M 01/2014 for Prescribed Businesses 3 June 2014

Instruction No. 01/2014 for Fiduciary Financial Services Businesses

28th May 2014
Instruction – Fiduciary Licensees - Anti-Money Laundering - Compliance Arrangements As licensees are aware, global standards and expectations in relation to the detection, forestalling and preventing of money laundering and terrorist financing (“ML/TF risks”) have evolved over the years to reflect the ways in which these risks can occur and the measures required to mitigate them. It is important...