News

Guidance on Liquidity Risk Management

​The Guernsey Financial Services Commission (“ the Commission") has received a significant number of enquiries relating to the position of Landsbanki Guernsey Limited (in administration) and a number of issues have been the subject of comment by the local media. On the 26 November 2008 the Guernsey Press published articles containing useful summary background information and which specifically...

On 24 November the States of Guernsey Policy Council signed the following amendment regulations which come into force on 1 December 2008: The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (Amendment of Schedules 1 and 2) Regulations, 2008 The Registration of Non-Regulated Financial Services Business (Bailiwick of Guernsey) Law, 2008 (Schedule 1 Amendment) Regulations, 2008...

PRESS RELEASE The Commission is pleased to announce that it has been working closely with Lloyd’s to identify an appropriate structure which will facilitate the growth of Lloyd’s business in Guernsey. To this end, new regulations were approved by the States of Guernsey on 3 November and signed by the Commission’s Chairman on 7 November. The new framework will allow Lloyd’s syndicates to establish...

​Background Following initial discussions with the UK Financial Services Authority (“FSA”) and HM Treasury in 2006 the Investment Business Division initiated a project to revise the existing Guernsey Class A open-ended fund rules to bring them into line with more liberal developments in the European Union. The revised rules, based on the UK’s New Collective Investment Scheme Sourcebook (“UK COLL...

​ Equitable Life Update October 2008 (PDF)

​ Business Continuity Planning and Disaster Recovery Management in the Banking Sector of the Bailiwick of Guernsey - A Thematic Report issued by the Guernsey Financial Services Commission

The Guernsey Financial Services Commission fully sympathises with the concerns of depositors in Landsbanki Guernsey Limited (in administration) and their very considerable distress and suffering. We continue to work long and hard with a view to achieving the best possible outcome for depositors. Important developments took place yesterday evening in connection with Landsbanki Guernsey. The Court...

​Copies of statements, and questions and answers, on Landsbanki Guernsey Limited in Administration issued by the bank's administrators and by the Guernsey political authorities are available below: Press release 10 October 2008 by the States of Guernsey Policy Council - Chief Minister Statement on Landsbanki Press release 15 October 2008 by the States of Guernsey Policy Council - Policy Council...