News

Tuesday, 17 November 2015 Director General's Address Presentation Slides Speech - William Mason, Director General Video - https://vimeo.com/148111481 Chairman's Address Presentation Slides- Drs Cees Schrauwers, Chairman Video - https://vimeo.com/148111384 The Economic Imperative Presentation Slides - Philip Marr, Commission Economist Video - https://vimeo.com/148496615 International Developments...

​Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to the Al-Qaida Network and Iran. AL-QAIDA NETWORK Please be advised that the United Nations Security Council has added one individual (“the listed person”) to the list of persons associated with Al-Qaida maintained...

The Commission announces that, following the fatal flaws review, the revised RATS Rules will come into force from 31st December, 2015 with one amendment from the version published on 7th September 2015. The amendment adds the following to the list of permissible assets in Annex A: "Long term insurance contracts (where underlying investment is in other assets listed in this annex)." A copy of the...

​From the 1 January 2016 all Financial Advisers holding an acceptable level 4 qualification will be required to obtain a Statement of Professional Standing from an accredited body. The Commission has updated its Guidance Note on Training and Competency Schemes to provide further information regarding the Statement of Professional Standing, including from whom it can be obtained and relevant...

Further to the Commission’s application for the winding up of MVP Fund Range PCC Limited ("the Fund") under section 410 of the Companies (Guernsey) Law, 2008, as amended (“the Law”) and its subsequent application for an Administrator Order under section 374 of the Law, the Royal Court of Guernsey made an administration order in respect of the Fund on 17 November 2015. Mr Timothy Le Cornu and Ms...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Afghanistan and Somalia. AFGHANISTAN Council Regulation (EU) No 753/2011, as implemented by the Afghanistan (Restrictive Measures) (Guernsey) Ordinance, 2011, the Afghanistan (Restrictive Measures) (Alderney)...

The Commission is today issuing Instruction Number 04/2015 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 03/2015 issued on 16 July 2015. Ecuador and Sudan have been removed from the list of countries and jurisdictions subject to the Instruction. In addition, Algeria and Iraq have now been added to Part B of the Instruction which lists countries and...

​ Yesterday an update was rolled out to the Online Submissions Portal to add new forms and improve functionality. The new forms that have been added and are now available to submit online are: 100. Generic Upload 131. Insurance Intermediary Annual Return 201a. Change to Designated Person (Part 1) 201b. Change to Designated Person (Part 2) 203. Change of Name (Registered) 204. Change of Year End or...