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Additional Question The 2023 Fiduciary Annual Return, which will be available on licensees' timelines on 27 May 2023, includes the following additional question: Breakdown of business by geography for trusts, foundations, companies and partnerships. Currently fiduciary licensees are required to identify the country of residence of the settlor of a trust, the founder of a foundation or the...

Following publication by the Royal Court, we are making available the judgment of the Deputy Bailiff given in response to Mr Kelham’s appeal against the sanctions imposed on him by the Commission’s Senior Decision Maker. Those sanctions were covered separately in the public statement we issued on 18 May 2023 following Mr Kelham’s decision not to further appeal the matter. This appeal hearing was...

Please be advised that an amendment has been made to the details in respect of Ilya Iosifovich Klebanov Valery Pavlinovich Shantsev AFK Sistema Nikolaevich Lepin who are currently designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and remain subject to an asset freeze and trust services sanctions. The revised entries in respect of the persons referred to above...

The Commission has made the Financial Crime Returns Rules which make mandatory the filing of the annual financial crime risk return, the annual intermediaries return and the quarterly financial flows return. We have also issued feedback on the consultation which we ran earlier this year. The Commission is taking a phased approach to the introduction of a fining penalty for late or inaccurate...

Please be advised that 42 individuals and 44 entities have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). Details of the individuals and entities are available here - Notice_Russia_190523.pdf. The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020...

The Financial Services Commission (Bailiwick of Guernsey) Law, 1987 (the “Financial Services Commission Law”); The Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 as amended (“the Regulations”). The Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing (“the Handbook”). The Principles of the...

Please be advised that an amendment has been made to the details in respect of Roman Nikolaevich Lepa who is currently designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and remains subject to an asset freeze. The revised entry in respect of the individual referred to above appears on the consolidated list, which can be found here . The UK regulations are given...

Please be advised that an amendment has been made to the details in respect of Damascus Cham Holding which is currently designated under the Syria (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and remains subject to an asset freeze. The revised entry appears on the consolidated list, which can be found here . The UK regulations are given effect within the Bailiwick under the...