News

Mr Geoffrey John Trebert

20th September 2022
On 15 September 2022, the Commission imposed a discretionary financial penalty of £87,500 on Geoffrey John Trebert and prohibited him from holding the position of controller, director, partner, manager, money laundering reporting officer and money laundering compliance officer for a period of two years and ten months. The exemption set out in section 3(1)(g) of the Fiduciaries Law (which would...

Sustainable Finance Week - Meet the Regulator

20th September 2022 Sustainable Finance Week
On Wednesday 21 September, as part of Guernsey’s Sustainable Finance Week, the Commission is hosting a ‘Meet the Regulator’ session. Come and meet our Authorisations team who can answer your questions about our sustainable finance approach or regulated business in Guernsey. To find out more and to book a meeting visit: ow.ly/XCN150KNFwc

Mr Gary William Jason Durkin

12th September 2022
On 7 September 2022, the Commission imposed a discretionary financial penalty of £35,000 on Gary William Jason Durkin. The above financial penalty was imposed on Mr Durkin following his failure to meet the Minimum Criteria for Licensing as set out in Schedule 1 to The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 and Schedule 4 to...

Queen Elizabeth II

9th September 2022
All at the Guernsey Financial Services Commission wish to convey our sincere condolences and deep sympathy to His Majesty The King and the Royal Family, following the death of Her Majesty Queen Elizabeth II. The thoughts and prayers of the Commission are with the Royal Family as they grieve for a beloved Mother, Grandmother and Great-Grandmother. Her Majesty driven by faith and propelled by duty...

Spoof emails

6th September 2022
The Commission has become aware of a possible phishing attempt being sent to some of its licensees purporting to be from the Commission. If you have received an email from the Commission and you are unsure of its authenticity, please do not click on any links or attachments and instead forward it to [email protected] The Commission sends its emails from the domain ending “gfsc.gg” and the email...

Professional Indemnity Insurance Requirements - Revised Rules

2nd September 2022
Following the recent publication of two consultation papers in relation to PII requirements for Investment, Fiduciary and Insurance sectors, when interested parties were offered an opportunity to provide fatal flaws comments on the amendments of the Fiduciary Rules, the Capital Adequacy Rules, the Insurance Managers Rules and the Insurance Intermediaries Rules, feedback was received from three...

Sanctions Notice - Myanmar

25th August 2022
Please be advised that: International Gateways Group of Companies Limited Sky One Construction Company Ltd Star Sapphire Group of Companies have been designated under the Myanmar (EU Exit) Regulations 2021 (the UK regulations). The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 as amended...

Consultation Paper on The Lending, Credit & Finance Rules, Guidance and Implementation: Meetings with Industry

12th August 2022
Following the recent publication of its Consultation Paper, setting out the draft Rules and approach for regulating the sectors covered by The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022, the Commission will be hosting a series of meetings with the various sectors which will be affected by the legislation. The Commission will hold the meetings at its offices on Glategny Esplanade...

Sanctions Notice - Russia

2nd August 2022
Please be advised that the following individuals have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations); Didier CASIMIRO Zeljko RUNJE The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey)...

Specific Discretionary Exemptions from the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (“the Fiduciary Law”)

1st August 2022
Please be reminded that specific discretionary exemptions granted after 1 October 2019 were given a three year expiry date, in accordance with the Notice published on the Commission’s website on 1 October 2019. The relevant expiry date is detailed on each discretionary exemption letter granted thereafter. Discretionary exemptions granted or renewed after this date will begin to expire from October...