News

Insurance Regulation Omnibus Consultation – Feedback Paper

3rd August 2018
3rd August 2018Following the closing of The Insurance Regulation Omnibus Consultation Paper on 26 April 2018 and analysis of responses, the Commission is today issuing a feedback paper, as well as associated rules, amendment rules, and guidance applicable to insurers licensed under the Insurance Business (Bailiwick of Guernsey) Law, 2002.The feedback consultation response can be found here.The...

Instruction No. 02/2018 for Financial Services Businesses and Prescribed Businesses

3rd August 2018
The Commission is today issuing Instruction Number 02/2018 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 01/2018 issued on 16 March 2018.Changes to Instruction No. 02/2018 include the removal of Iraq and Vanuatu and the addition of Pakistan. Further details in respect of these changes can be found within Part B of the Instructions.The Commission has also...

Sanctions Notice - Libya

3rd August 2018
Council Regulation (EU) No 2016/44, as implemented by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016, the Libya (Restrictive Measures) (Alderney) Ordinance, 2016 and the Libya (Restrictive Measures) (Sark) Ordinance, 2016, has been amended by Council Implementing Regulation (EU) No 2018/1073.The Implementing Regulation is available here: Council Implementing Regulation (EU) 2018...

Sanctions Notice - North Korea

3rd August 2018
Council Regulation (EU) No 2017/1509, as implemented in the Bailiwick by the North Korea (Restrictive Measures) (Guernsey) Ordinance, 2017, the North Korea (Restrictive Measures) (Alderney) Ordinance, 2017, and the North Korea (Restrictive Measures) (Sark) Ordinance, 2017, has been amended by Council Implementing Regulation 2018/1074.The effect of the amendments, which are automatically and...

Sanctions Notice - Terrorism and Terrorist Financing

3rd August 2018
The list of persons subject to restrictive measures under Council Regulation 2580/2001 (the EU Regulation) has been amended by Council Implementing Regulation (EU) No 2018/1071, and Council Implementing Regulation (EU) 2018/468 has been repealed. The effect of the amendment is to update the information relating to the persons, groups and entities on the list.The Implementing Regulation is...

Sanctions Notice - Ukraine

3rd August 2018
Council Regulation (EU) 269/2014, as implemented by the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Guernsey) Ordinance 2014, the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Alderney) Ordinance 2014 and the Territorial Integrity etc. of Ukraine (Restrictive Measures) (Sark) Ordinance 2014, has been amended by Council Implementing Regulation (EU) No 2018/1072.The...

Sanctions Notice - Iraq

24th July 2018
United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendments, which are automatically effective in the Bailiwick, is to remove four entities from the list of persons and entities subject to financial restrictions under Resolution 1518. Further details about the...

Sanctions Notice - ISIL (Da’esh) and Al-Qaida Network

23rd July 2018
This Notice is issued further to the previous Sanctions Notice issued in relation to the amendment of two entries on the list of individuals and entities associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that corresponding changes have now been made to the list maintained by the European Union under Council Regulation (EC...

Sanctions Notice - Republic of Maldives

23rd July 2018
On 16 July 2018, in response to concern about the situation in the Republic of Maldives ("the Maldives"), the EU published Council Regulation (EU) 2018/1001. This sets out restrictive measures, including an asset freeze, applicable to listed persons responsible for undermining the rule of law or obstructing an inclusive political process in the Maldives, as well as those responsible for serious...

Sanctions Notice - North Korea

18th July 2018
Council Regulation (EU) No 2017/1509, as implemented in the Bailiwick by the North Korea (Restrictive Measures) (Guernsey) Ordinance, 2017, the North Korea (Restrictive Measures) (Alderney) Ordinance, 2017, and the North Korea (Restrictive Measures) (Sark) Ordinance, 2017, has been amended by Council Implementing Regulation 2018/1009.The effect of the amendments, which are automatically and...