News

​The practice, where a person makes an unsolicited call to a potential investor seeking to sell them investments during the course of that call, is known as "Cold Calling". Firms that wish to conduct investment business within the Bailiwick must be licensed by the Commission in order to do so. Cold calling organisations may not have the necessary licence and may even be involved in illegal...

​Parliamentary Ombudsman Confirms Guernsey Policyholders Covered by Investigation In our press release of 21 February 2005 we indicated that the Commission had made a submission to Iain Ogilvie who is conducting the investigation into the regulation of Equitable Life Assurance Society ("Equitable Life") on behalf of the Parliamentary Ombudsman, that Guernsey policyholders should be covered by the...

​The Fiduciary Sector Policy Forum (FSPF) and the Association of Guernsey Banks (AGB) have worked closely with the Commission to produce an introducer certificate, in order to develop a consistent approach to the provision of information in respect of the underlying principals of business introduced by fiduciaries in the Bailiwick to local banks. The FSPF and AGB have now agreed the contents of...

27 April 2005 Representatives of the finance sector in Guernsey have requested clarification of the Commission's policy on certain aspects of introduced business. Accordingly, following consultation with the Joint Money Laundering Steering Group, the Commission has today issued Statement No. 2 on introduced business to the finance sector. Enquiries should be made to: Sylvia Sirett Senior Analyst...

​Please click here for a copy of the press release.

​In the second half of 2004, the Guernsey Financial Services Commission announced that it was consulting on proposals to streamline the approval process for both open and closed ended funds aimed at professional, experienced and knowledgeable investors. Following wide spread support for the proposals set out in the Commission's paper, the Commission has today introduced the new regime with...

​"Recently the Parliamentary Ombudsman (PO) has reopened her enquiry into Equitable. The Commission is currently in correspondence with the PO to clarify the position of Guernsey policyholders in relation to this enquiry." Peter Neville, Director General, GFSC The Commission will advise of any further developments via this Website.

INTRODUCTION The GFSC has been conducting an investigation into the activities of certain Guernsey-based fund managers and brokers within the split capital investment trust ("splits") sector between September 2000 and February 2002. The United Kingdom Financial Services Authority ("FSA") and the Jersey Financial Services Commission have also been conducting their own investigations into the splits...

Following the Decision of the Court of the Seneschal, Castle Company Management LLC made an Appeal to the Ordinary Division of the Royal Court of Guernsey. The Bailiff delivered his judgment on 27 August 2004. This decision is subject to a further Appeal. Judgment of the Bailiff of Guernsey in The Royal Court of Guernsey Ordinary Division on Appeal from the Court of the Seneschal between Castle...