News

​The Commission has noticed that in recent years there has been an increasing number of occurrences of fraud being committed against customers of Guernsey licensees where the customer is based in southern Africa. Post, and possibly emails, from licensees are being intercepted and details then being used by fraudsters. It has also been noted that fraudsters have increasingly directed the licensees...

As a result of The Foundations (Guernsey) Law, 2012 (“the Foundations Law”) coming into effect on 8 January 2013 and also The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) (Foundations Amendment) Regulations, 2012 (“the Foundation Amendment Regulations”) being made on 14 January 2013, various amendments in respect of Foundations related...

In advance of most of the changes to the AML/CFT framework referred to in our media release of 12 November 2012, the Commission has today amended Appendix C to the Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing and the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing. A version of...

The Commission has noticed an increase in the incidents of genuine websites being cloned to support fraudsters in committing various types of scams. The offending sites have included clones of legitimate licensees and investment funds. Licensees are encouraged to regularly check that their websites have not been cloned in such a fashion. If a cloned site is discovered, please contact the...

In September 2011 the Commission issued the Finance Sector Code of Corporate Governance. The introduction states that from 2012 we will require an assurance statement from companies subject to the Code, confirming that the directors have considered the effectiveness of their corporate governance practices and are satisfied with their degree of compliance with the Principles set out in the Code or...

Date - 11 January 2013 Time - 9.00am till 1.00pm. Venue - Whittaker Hall, St James Concert & Assembly Hall Fee - £40.00 per delegate It is anticipated that the Foundations (Guernsey) Law, 2012 will come into force at the beginning of January 2013. With this in mind, the Commission’s Fiduciary Services Division is hosting a half day conference on 11 January 2013 in the Whittaker Hall at St James...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (the "Financial Services Commission Law") The Banking Supervision (Bailiwick of Guernsey) Law, 1994 (as amended) The Guernsey Financial Services Commission (the "Commission") issues this notice pursuant to section 2(2)(e) of the Financial Services Commission Law. The Commission wishes to inform the public that Dan...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended (the "Financial Services Commission Law") The Banking Supervision (Bailiwick of Guernsey) Law, 1994 (as amended) The Guernsey Financial Services Commission (the "Commission") issues this notice pursuant to section 2(2)(e) of the Financial Services Commission Law. The Commission wishes to inform the public that the 6.75...

As part of its continuing commitment to ensuring that supervisory standards are up to date and appropriate, the Commission is preparing revisions to the regulations and rules governing anti-money laundering (AML) standards for financial services businesses ‘the Handbook’ and for prescribed businesses (firms of lawyers, accountants and estate agents). These revisions largely arise from the...