News

Please be advised that Elvira Sakhipzadovna Nabiullina has been designated under the Russia (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 Sanctions...

Please be advised that the following individuals have been designated under the Yemen (Sanctions) (EU Exit) (No.2) Regulations 2020 (the UK regulations): Motlaq Amer Al Marrani Mansur Ahmad Al-Sa'adi . 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...

Please be advised that 89 individuals and 3 entities have been designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). The names of these individuals and entities are available here- Notice_Russia_260922.pdf (publishing.service.gov.uk) The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey)...

Guernsey Funds The total net asset value of Guernsey funds has decreased in Sterling terms during the last quarter by £6.8 billion (-2.2%) to £302.8 billion. Over the past year, total net asset values have increased by £30.2 billon (11.1%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds decreased over the quarter by £0.2 billion (-0.3%) to £54.2 billion. This...

The Guernsey Financial Services Commission is pleased to announce three significant developments in its policy framework for sustainable finance coming into effect today. First, the Commission is launching its Natural Capital Fund framework, a new offer in the growing Guernsey Sustainable Funds Regime marking the completion of a pledge made as part of COP26 to extend the Commission’s regulatory...

On 15 September 2022, the Commission imposed a discretionary financial penalty of £87,500 on Geoffrey John Trebert and prohibited him from holding the position of controller, director, partner, manager, money laundering reporting officer and money laundering compliance officer for a period of two years and ten months. The exemption set out in section 3(1)(g) of the Fiduciaries Law (which would...

On Wednesday 21 September, as part of Guernsey’s Sustainable Finance Week, the Commission is hosting a ‘Meet the Regulator’ session. Come and meet our Authorisations team who can answer your questions about our sustainable finance approach or regulated business in Guernsey. To find out more and to book a meeting visit: ow.ly/XCN150KNFwc

On 7 September 2022, the Commission imposed a discretionary financial penalty of £35,000 on Gary William Jason Durkin. The above financial penalty was imposed on Mr Durkin following his failure to meet the Minimum Criteria for Licensing as set out in Schedule 1 to The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 and Schedule 4 to...