News

The Guernsey Financial Services Commission has today issued a Consultation Paper seeking views from interested parties on a proposal to permit Pension Service Providers (PSPs) to be formed as Protected Cell Companies (PCCs). Under the current legal framework, a company cannot be a PCC unless it falls under certain prescribed regulated categories, which do not include PSPs. The Consultation Paper...

The Commission today launches a consultation paper on proposals for increasing the licence fees paid by firms. The consultation period will close on Friday 4 October. The Commission is consulting on an overall increase in fees of 5.3%. Other specific proposals relating to fees that are outlined in the consultation paper are: Increasing fees for Retail General Insurers (‘RGI’); Applications to...

Please be advised that the following individuals/entities have been designated under the Iran (Sanctions) Regulations 2023 (the UK regulations) : Seyed Hamzeh GHALANDARI (Group ID: 16561) Ali JAFARABADI (Group ID: 16563) Majid MOUSAVI (Group ID: 16565) BAHARESTAN KISH COMPANY (Group ID: 16566) CHEKAD SANAT FARAZ ASIA (Group ID: 16567) SAAD SAZEH FARAZ SHARIF (Group ID: 16564) THE ANZALI FREE TRADE...

Please be advised that the following entities have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) and are now subject to an asset freeze : 924th State Center For Unmanned Aviation (Group ID: 16559) Command Of The Military Transport Aviation (Group ID: 16558) Russian Aerospace Forces (Group ID: 16560) The entities referred to above appears on the UK’s...

Please be advised that the following individuals/entities have been designated under the Iran (Sanctions) Regulations 2023 (the UK regulations) : Abdolfatah AHVAZIAN (Group ID: 16554) Islamic Revolutionary Guard Corps Quds Force (IRGC-QF) Unit 700 (Group ID: 16555) Behnam SHAHRIYARI (Group ID: 16556) Hamid FAZELI (Group ID: 16557) The UK regulations are given effect within the Bailiwick under the...

Please be advised that an amendment has been made in respect of the following persons who have been designated under the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019 (the UK regulations): Mustafa AYASH (Unique ID: CTD0004) Nazem AHMAD (Unique ID: CTD0002) Those referred to above remain subject to an asset freeze and are now also subject to a travel ban. They both appear...

The full line up of speakers, including respected international voices, has been announced for ‘Finovation: The Guernsey Edge’ taking place at Beau Sejour Leisure Centre on Wednesday 11 September. The one-day conference, jointly hosted by the Guernsey Financial Services Commission and Guernsey Finance, will consider the opportunities for Guernsey to leverage its nimbleness, robust legal framework...

Please be advised that the following person, previously designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulations), has been removed from the consolidated list and is no longer subject to an asset freeze : Yassine Chekkouri (Group ID: 7105) The consolidated list has been updated and can be found here . The UK regulations are given effect within the...

On Thursday 8 August and Friday 9 August the Commission delivered three presentations regarding the findings from its thematic review of Governance, Risk, and Compliance Controls to Counter Financial Crime - Estate Agency, Legal and Accountancy Services published on 4 April 2024. These sessions were attended by over 100 people. Slides from the presentation can be found on the Events page or...