News

Sanctions Notice - Global Human Rights

22nd March 2021
Please be advised that five entities have been designated under the Global Human Rights Sanctions Regulations 2020; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. These sanctions were enacted for the purposes of deterring and providing accountability for serious violations of an individual’s human rights...

Consultation Paper on Amendments to the Banking Rules on Accounts, Disclosure & Large Exposures

15th March 2021
The Guernsey Financial Services Commission has issued today a Consultation Paper seeking views from interested parties on proposed Banking Supervision (Accounts, Disclosure and Reporting) Rules and Guidance and amendments to the Commission’s Large Exposure and Upstreaming framework in the form of proposed Banking Supervision (Large Exposure) Rules. The proposed Accounts, Disclosure and Reporting...

Sanctions Notice - Syria

15th March 2021
Please be advised that 6 new designations have been made under the Syria (Sanctions) (EU Exit) Regulations 2019. This regime is implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. These sanctions were enacted for the purposes of encouraging the government of Syria to refrain from actions, policies or activities which...

Commission publishes two papers addressing Green and Climate related Risk

11th March 2021
The Commission has today published a Spring Green Consultation Paper - please click here and its Thematic Review of the Guernsey Green Fund Regime - please click here. Both documents underline the Bailiwick’s ongoing commitment to this important area. The Spring Green Consultation Paper proposes an addition to the Finance Sector Code of Corporate Governance, to take specific account of climate...

Country lists updates to the Handbook and Instruction

5th March 2021
The Commission has today issued amendments to the country lists in Appendix C and Appendix I of the Handbook on Countering Financial Crime and Terrorist Financing reflecting the Financial Action Task Force’s updated list of jurisdictions under increased monitoring, which includes the Cayman Islands, Burkina Faso, Morocco and Senegal. Updates to jurisdictions identified by other relevant external...

December Quarter 2020 Investment Statistics

4th March 2021
Fourth Quarter 2020 Guernsey Funds The total net asset value of Guernsey funds has increased in Sterling terms during the last quarter by £9.4 billion (3.9%) to £245.5 billion. Over the past year, total net asset values have increased by £17.9 billon (7.8%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds increased over the quarter by £1.0 billion (2.0%) to £49.0...

Sanctions Notice - Somalia

2nd March 2021
Please be advised that three individuals have been designated by the UN under the Somalia sanctions regime. These sanctions are automatically effective in the UK under the Somalia (Sanctions) (EU Exit) Regulations 2019, which are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. The following individuals have been...

Sanctions Notice - Yemen

1st March 2021
Please be advised that 1 new designation has been made under the Yemen (Sanctions) (EU Exit) Regulations 2019. This regime is implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. These sanctions were enacted for the purposes of promoting the peace, stability and security of Yemen, the political transition and peaceful...

Sanctions Notice - Burma/Myanmar

25th February 2021
Please be advised that 5 new designations have been made under the Burma (Sanctions) (EU Exit) Regulations 2019. This regime is implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. These sanctions were enacted for the purposes of encouraging the Myanmar security forces to comply with international human rights law and to...