News

The Guernsey Financial Services Commission has become aware that a website has been established cloning the Commission’s own website (The GFSREA – Guernsey Financial Services and Regulatory Enforcement Authority – www.gfsrea.org). The Commission’s website domain is www.gfsc.gg The Guernsey Financial Services and Regulatory Enforcement Authority’s website appears to closely resemble the Commission...

Date of prohibition order pursuant to section 33 of the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 and prohibited functions: From 20 January 2022 until 27 August 2027: the functions of controller,* director, partner, manager, money laundering reporting officer and money laundering compliance officer. * Subject to a limited exception permitting Mr Sinclair to...

On the 20th day of January 2022, the Commission imposed a discretionary financial penalty of £196,000 on Robert Archibald Gilchrist Sinclair 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 5.6 years. The exemption set out in section 3(1)(g) of the Fiduciaries Law...

Please be advised that Quren Salih Quren al Qadhafi has been designated under the Libya (Sanctions) (EU Exit) Regulations 2020 (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 Law...

Philip Nicol-Gent, Senior Counsel at the Commission, has been appointed as Chair of the ICAEW’s regulatory board. This is the independent board responsible for oversight of ICAEW’s regulatory and disciplinary work, undertaken by the Professional Standards Department, to ensure it is carried out in the public interest. Philip has been the Vice-Chair of the ICAEW’s regulatory board since May 2017.

Please be advised that two individuals have been designated under the Global Human Rights Sanctions Regulations 2020 ; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020. Dmitry Vadimovich KOVTUN and Andrey Konstantinovich LUGOVOY are subject to an asset freeze and will appear on the consolidated list, which can...

Please be advised that the United Nations Security Council Committee has added one individual and one entity to the ISIL (Da'esh) and Al-Qaida Organisations financial sanctions regime. Ashraf al-Qizani , a Tunisian national said to be a senior member of ISIL, and Jund al-Khilafah in Tunisia (JAK-T), an ISIL affiliate, have been added to the UN’s ISIL (Da’esh) and Al-Qaida sanction list. These...

The Commission has now sent its 2022 annual fee invoices to licensees and registrants by email. If you have not received an invoice you should contact '[email protected]' quoting the entity name and the GFSC reference number, which can be found on our website ( Regulated Entities and Registered Entities). You may also contact this email address to confirm the validity of an emailed invoice...

Please be advised that ALI DARASSA has been designated under the Central African Republic (Sanctions) (EU Exit) Regulations 2020 (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...