News

Please be advised that the following persons have been designated under the Iran (Sanctions) (Human Rights) (EU Exit) Regulations 2019 (the UK regulations): Salar Abnoush, Ahmad Fazelian, Kiyumars Heidari, Hossein Nejat, Qasem Rezaei, Basij Resistance Force, Basij Cooperative Foundation. The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes)...

The Commission has today published its feedback paper following the consultation on Lending, Credit & Finance issued on 21 July 2022, together with the final Lending, Credit & Finance Rules and Guidance and a s40 instrument giving notice of various exemptions from the requirement to hold a licence in respect of the carrying on of business regulated by the law. The Lending, Credit and Finance...

Please be advised that Abdul Rehman Makki has been designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (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 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the...

Please be advised that Mohammad Jafar Montazeri has been designated under the Iran (Sanctions) (Human Rights) (EU Exit) Regulations 2019 (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 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the...

The Guernsey Financial Services Commission has become aware that websites have been established (infogfsc.gg; info-gfsc.gg and gfscommission.gg) cloning the Commission’s website as well as spoof emails being sent from domains associated with those websites. The Commission’s website is www.gfsc.gg and the Commission sends its emails from the domain ending “gfsc.gg”. The websites appear to closely...

On 16 November 2022, the Commission imposed a discretionary financial penalty of £280,000 on GFG Limited (in voluntary liquidation). This sanction was imposed as a result of the firm’s failure to meet the minimum criteria for licensing under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. More details to follow in due course.

Please be advised that the UK has introduced a new sanctions regime in relation to Haiti, under the Haiti Sanctions Regulations 2022 ( the Haiti regulations). The Haiti regulations give effect to the United Kingdom’s international obligations resulting from United Nations Security Council Resolution 2653 (2022). They contain prohibitions relating to trade and related financial services, and they...

The Commission is distributing its 2023 annual fee invoices to licensees and registrants by email. You should receive an email with an invoice within the first few days of January 2023 sent from the Commission's accounting service provider. Invoices are due to be paid by 31 January 2023. We will look to follow up any late payments in the weeks afterwards. If you have not received an invoice by...

The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (“the Enforcement Powers Law”) The Protection of Investors (Bailiwick of Guernsey) Law, 1987 and the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (collectively “the POI Law”)[i] Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 (“the...