News

​ On the 24 April the applications made by The Guernsey Financial Services Commission, under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance, 2008 for the appointment of Administration Managers to Lancelot Management Limited and Trinity Global Fund were adjourned until the 1 May 2015. During the interim period Mr Daryn Hutchinson a director of...

The Commission has today issued new rules regarding the solvency requirements for licensed insurers. This is in accordance with amendments made to the Insurance Business (Bailiwick of Guernsey) Law 2002 by Ordinance on 10 December 2014 and which were brought into effect by Regulations approved by Policy Council on 27 April 2015. The Insurance Business (Solvency) Rules are effective from 1 May 2015...

The Guernsey Financial Services Commission, acting to protect the interests of investors and pursuant to powers granted to it under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance of 2008, today made an application to the Court to have administrators appointed to a number of Guernsey authorised investment schemes. As a result of that application, the...

This Notice is issued further to a Sanctions Notice issued last week in relation to the addition of one natural person to the list of persons associated with Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that this person has now been added to the list maintained by the European Union under Council Regulation (EC) No 881/2002 by Commission Implementing...

Business development managers within industry have occasionally suggested to the Commission that new business contacts have commented to the effect that “ we would love to have brought our business to the Bailiwick but could not do so because of……….” Throughout the Revision of Laws project, Philip Nicol-Gent, the Commission’s General Counsel and project lead, has been asking representatives of the...

Please be advised that the United Nations Security Council has added the name of 1 natural person (“the listed person”) to the list of persons associated with Al-Qaida maintained under United Nations Security Council Resolution 1267. All persons on the list are subject to targeted financial sanctions, a travel ban and the arms embargo. Further information about the listed person is available here...

IRAN – HUMAN RIGHTS Council Regulation (EU) 359/2011, as implemented by the Iran (Freezing of Funds) (Guernsey) Ordinance, 2011, the Iran (Freezing of Funds) (Alderney) Ordinance, 2011and the Iran (Freezing of Funds) (Sark) Ordinance, 2011, has been amended by Council Implementing Regulation (EU) No 2015/548 with effect from 8 April 2015. The Implementing Regulation is available here: Council...

Council Regulation (EC) 881/2002, as implemented by the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, the Al-Qaida (Restrictive Measures) (Alderney) Ordinance, 2013 and the Al-Qaida (Restrictive Measures) (Sark) Ordinance, 2013, has been amended by Council Implementing Regulation (EU) No 2015/532 with effect from 30 March 2015. The Implementing Regulation is available here...

The Commission announced on 9 March 2015 that The Registered Collective Investment Schemes Rules 2015 had been approved by Commissioners and would take effect from 1 April 2015. The Commission has today released new Forms REG and REGSF. These forms are effective from 1 April 2015.