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MEMORANDUM FILE REF: B52 TO: Managing Directors and Branch Managers of Guernsey Banks I enclose for your attention a copy of the Basel Committee on Banking Supervision's paper entitled "Principles for the Management of Credit Risk." It can be obtained in electronic format (PDF) from the Committee's website at http://www.bis.org/publ/bcbs75.pdf Management of Credit Risk Although this paper was...

Bankers will be aware that amendments currently in the pipeline to the Banking Supervision (Bailiwick of Guernsey) Law 1994 will create obligations for them in respect of corporate governance and risk management. The Commission intends to issue guidelines in support of those requirements. We were encouraged to produce these guidelines by the IMF Mission who recommended that we issue a guidance...

​20 February 2003 Attention is drawn to these Regulations which came into effect on 8 January 2003. Schedule 1 to the Terrorism and Crime (Bailiwick of Guernsey) Law, 2002 (which contains a list of proscribed organisations) has been updated by these Regulations which add an additional 4 organisations to the list of proscribed organisations set out in Schedule 1. Financial services businesses...

INTEREUROPE BANK.COM INTEREUROPE BANK FINANCE COMPANY (GUERNSEY) LIMITED IMBGROUP BANK PLC IMBGROUP FINANCE COMPANY (GUERNSEY) LIMITED The above-named entities have recently come to the Commission's attention. It has been noted from their web sites at www.intereuropebank.com and www.imbgroup.com that it is claimed that the companies have offices in Guernsey and that they are licensed by the...

Banks and their customers are warned that attempts have recently been made by criminals to obtain details of bank customers. This has been achieved by intercepting mail from the banks, doctoring their headed paper and requesting the customers to provide confidential information in a form which is then asked to be faxed to the UK. It has been noted that customers in Africa seem to have been...

The above organisation has recently been brought to the Commission's attention. It has been noted from their web site at www.asiapacific-group.com that it claims that the company has a representative office in Guernsey. The Commission wishes to make it clear that the address given on the web site is not connected to the Asia Pacific Group or any other financial services business. Furthermore, the...

The above-named entity has been brought to the Commission's attention. It has been noted from its web site at europeanprivateinvestmentbank.com that it claims to be licensed by the Commission to conduct banking business. As with similar claims made by other organisations previously referred to by the Commission, this is false. You are therefore advised not to have any contact with this entity...

​ Code of Practice for Banks

​On 18 March 2002, the Zimbabwe (Export of Goods & Freezing of Funds) (Guernsey) Ordinance, 2002, came into force. The equivalent Ordinances came into effect in Sark and Alderney on 3 April and 17 April 2002, respectively. The effect of the Ordinances is to impose restrictive measures, in particular the freezing of funds, financial assets and economic resources, belonging to those members of the...