News

The Guernsey Financial Services Commission notes the commercial decision made by The Co-operative Bank plc to close its Guernsey branch as part of a corporate restructuring exercise. The Commission has been kept fully informed by The Co-operative Bank of its decision and the arrangements for closure, and we will maintain close contact with the Guernsey branch as it winds down its business...

The Commission has issued the Code of Practice for Foundation Service Providers which comes into operation on 2 September 2013.

On the 26 July the Commission made regulations amending The Financial Services Commission (Administrative Financial Penalties) (Bailiwick of Guernsey) Regulations, 2010. The amendments to these regulations mirror changes made to the Regulation of Fiduciaries (Fiduciary Advertisements and Annual Returns) Regulations, 2012 (as amended) to extend the filing date for the annual return from one month...

The Commission would remind all companies which hold a licence from the Commission, issued after 31 July 2012 under the regulatory laws or which are registered or authorised as collective investment schemes (“funds”) under 1. below that an assurance statement under the Finance Sector Code of Corporate Governance ("the Code") must be submitted to the Commission on the first anniversary of the date...

Following the European Securities and Markets Authority’s (ESMA) approval of the co-operation arrangements the Guernsey Financial Services Commission (GFSC) has signed 27 bi-lateral co-operation agreements with the following EU/EEA securities regulators for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds: EU/EEA Authority Autoriteit...

The Commission is seeking a supplier to deliver the first stage of an online services portal to support electronic communication between the Commission and its licensees. The initiative forms parts of the Commission’s Sentinel transformation programme. The first stage of the portal will consist of the electronic submission of Personal Questionnaires and Personal Declarations. These forms are...

On 27 June the Commission issued: Instruction (Number 19) for Financial Services Businesses and Instruction (Number 17) for Prescribed Businesses For other Instructions and repealed Business from Sensitive Sources, see Instructions page on this website.

​The Guernsey Financial Services Commission is changing its internal structure to bring supervision and policy functions together thereby helping to increase the Commission’s effectiveness. Some senior personnel will change roles to facilitate the changes, which are designed to be cost neutral. Specifically, the Banking and Insurance Divisions will merge to form a new Division to undertake both...

​ Earlier this year the Investment Business Division posted on the Commission’s website The AIFMD (Marketing) Rules, 2013 (“the Rules”) for consultation. The Rules , which have been approved by the Commissioners, and the Form AIFM have, today, been placed on the Commission’s website with an effective date of 22 July 2013. The Rules have been introduced to ensure that collective investment schemes...