News

Please be advised that details in respect of Yuri Yakovlevich Chaika (Group ID: 14774) who has been designated under the The Russia (Sanctions) (EU Exit) Regulations 2019 , have been amended. They are still subject to an asset freeze and trust services sanctions . The persons/entities referred to above appear on the UK’s consolidated list, which can be found here . The UK regulations are given...

Please be advised that the following persons/entities: Artem Yuryevich Chaika (Group ID: 16756) Pavel Mikhailovich Fradkov (Group ID: 16758) Joint Stock Company Kirov Energomash Plant (Group ID: 16754) Limited Liability Company Rosatom Additive Technologies (Group ID: 16755) Vladimir Viktorovich Selin (Group ID: 16757) have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019...

The Commission has today issued two thematic reports on Client Money arrangements for the Investment and Fiduciary sectors. The Commission found that firms utilise a robust control environment to appropriately segregate and reconcile Client Money, thus ensuring its safety. We also found that the vast majority of licensees hold Client Money with Approved Banks. Whilst we recognise that access to...

Please be advised that the following person has been removed from the UK Russia financial sanctions regime and is no longer subject to an asset freeze or trust services sanctions: Irina Vladimirovna CHUBAROVA (Group ID: 15960) The consolidated list has been updated and can be found here . The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes)...

Please be advised that the following individuals/entities: ZSERVERS (Unique ID: CYB0064) XHOST Internet Solutions LP (Unique ID: CYB0065) Aleksandr Sergeyevich Bolshakov (Unique ID: CYB0066) Aleksandr Igorevich Mishin (Unique ID: CYB0067) Ilya Vladimirovich Sidorov (Unique ID: CYB0068) Dmitry Konstantinovich Bolshakov (Unique ID: CYB0069) Igor Vladimirovich Odintsov (Unique ID: CYB0070) Vladimir...

The Commission’s development of technology such as its Early Warning System and new Applications and Authorisation Portal has demonstrated its commitment to efficiency and effectiveness enhancing technologies. The Commission appreciates that continued technological evolution by it and our core economic sector is important for the future prosperity of the Bailiwick. Further to this work, the...

The Guernsey Financial Services Commission welcomes the findings of Guernsey’s Mutual Evaluation Report by MONEYVAL, the Council of Europe’s permanent monitoring body, published today (Monday 10 February 2025). The report confirms the Bailiwick takes a robust approach to counter money laundering, terrorist financing and proliferation financing. Speaking about the report, the Commission’s Director...

The Commission has today published a consultation paper proposing amendments to the Financial Crime Returns Rules (“the FC Returns Rules”) which will make mandatory the filing of periodic returns for accountants, lawyers and estate agents (“prescribed businesses”). This will end the disparity with other sectors where such filings are mandatory. The proposed amendments follow the consultation by...

The Commission has today issued its report on the Thematic Review of Insurance Reserving. In the summer of 2024, the Commission’s Banking and Insurance Division undertook a thematic review of the reserving methodology and practices implemented by licensed general insurers. As part of its thematic review, the Commission sent out questionnaires to 20 licensed firms representing a range of policy...