News

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...

Please click here to view letter from the Financial Crime & Authorisation Division to Chief Executive Officers of Financial Services Businesses.

​ Following a request by the Commerce and Employment Department (“C&E”) the Commission released a consultation paper last September on the steps required to implement the new Guernsey Financial Advice Standards (“GFAS”). C&E had identified that the introduction of GFAS would protect and enhance Guernsey’s reputation as a leading International Financial Centre, provide better value service from...

Last week the Commission and the Financial Investigation Unit held a co-sponsored seminar entitled “Suspicious Activity Reporting” (SAR) which covered Trends, Tips, Analysis and Engagement. The purpose of the seminar was to provide industry, and particularly Money Laundering Reporting Officers, with the latest information in relation to SAR and the main areas which were covered included: - The law...

The Commission’s Director General, William Mason, today gave the key note speech at the annual Guernsey conference of the Institute of Chartered Secretaries and Administrators. The theme of his speech was “Ethics in Governance” in which he set out to make the case for a meaningful discussion of morality at the boardroom table and for ethical codes which can inform decision making at all levels of...

​ The Commission and the Financial Intelligence Service will be holding a co-sponsored seminar entitled “Suspicious Activity Reporting (SAR): Trends, Tips, Analysis and Engagement” on Thursday 8 May 2014. The purpose of the seminar is to provide industry, particularly Money Laundering Reporting Officers, with information in relation to SARs. The following areas will be addressed as part of this...

The States of Guernsey has today adopted sanction measures against the Central African Republic ("CAR"). All financial institutions and other bodies are requested to check their records to ensure they comply. In view of the deteriorating security situation in the Central African Republic ("CAR"), on 10 March 2014 the European Council adopted Council Regulation 224/2014 which gave effect to the...

​The States of Guernsey has today adopted further sanction measures against certain persons, entities and bodies in view of the actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. All financial institutions and other bodies are requested to check their records to ensure they comply. It was agreed by the European Council to introduce travel bans...

​It has recently come to the Commission's attention that a person using various aliases including James Arthur Riise and Douglas R. Baker has been claiming to be licensed by the Commission to engage in business as a loan broker. The Commission can confirm that these claims are false and are part of a scheme designed to commit fraud. By way of confirmation, loan broking services are not regulated...