Resumption of onsite inspections

8th June 2020
The Commission’s Financial Crime Division is recommencing its routine financial crime inspections to firms with immediate effect. Routine inspections were suspended on 19 March 2020 to enable firms to deal with the immediate operational impact of the coronavirus lockdown. Financial Crime inspections are resuming now as the finance industry has demonstrated its resilience and firms have generally...

Continent Worldwide Limited and Continent PCC Limited

1st June 2020
On 29 May 2020, the Guernsey Financial Services Commission, acting to protect the interests of investors and pursuant to powers granted to it under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance of 2008, made an application to the Court to have administrators appointed to Continent Worldwide Limited, a company licensed under the Protection of...

Application Form for Managing General Agents

28th May 2020
Application Form for Managing General Agents29 May 2020The Commission is pleased to announce the launch of a new application form for Managing General Agents (MGAs) to make it simpler for them to apply for a Guernsey licence. Although the MGAs fall within the insurance manager licensing framework the Commission wished to ensure that Managing General Agents interested in coming to the Bailiwick...

Updated Commission deadlines for Key Financial Returns

28th May 2020
Following our announcement of 24 March 2020:], the Commission has been pleased to note the resilience of the Bailiwick’s finance sector including the widespread ability to work from home effectively. This operational resilience, taken together with recent States of Guernsey announcements regarding...

Sanctions Notice - ISIL (Da'esh) and Al-Qaida

27th May 2020
Please be advised that further to the United Nations Security Council’s decision on 21 May to designate Amir Muhammad Sa’id Abdal-Rahman al-Mawla, the EU has passed Commission Implementing Regulation (EU) 2020/706 which enacts this decision.This change to the EU framework is automatically effective in the Bailiwick under the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, the Al-Qaida...

Sanctions Notice - ISIL (Da'esh) and Al-Qaida

22nd May 2020
Please be advised that the United Nations Security Council has added one individual, Amir Muhammad Sa’id Abdal-Rahman al-Mawla, to the list of individuals and entities subject to restrictive measures, including targeted financial sanctions, pursuant to United Nations Security Council Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh), Al-Qaida, and associated individuals...

Commission’s 2019 Annual Report

12th May 2020
The world’s circumstances have changed fundamentally with the arrival of COVID-19 which has become a major threat to global wellbeing and economic prosperity.The extraordinary measures taken by governments around the world in response to the threat posed by COVID-19, have inevitably and significantly altered any forward-looking statements and hence, in publishing its 2019 annual report today, the...

FATF Guidance - COVID-19-related Money Laundering and Terrorist Financing Risks

11th May 2020
The Financial Action Task Force ("FATF") has released a guidance paper regarding COVID-19-related money laundering and terrorist financing risks, which can be accessed directly on the FATF website.This paper and other FATF guidance can be found within the FATF Guidance section of the Commission's Legislation and Guidance page.

Sanctions Notice - Nicaragua

5th May 2020
Please be advised that the EU Council has imposed an asset freeze and travel ban against 6 people determined to be responsible for serious human rights violations in Nicaragua under Council Implementing Regulation (EU) 2020/606. The EU Regulation is implemented in Guernsey by the Nicaragua (Restrictive Measures) (Bailiwick of Guernsey) Regulations, 2019.The six designated individuals are:Ramon...

Mr Marc Adam Roxby (Date of Birth 5 July 1984) of 11 Les Residences, Cobo, Guernsey, GY5 7UZ

4th May 2020
Date of prohibition order, law under which made and prohibited functions:The Regulation of Fiduciaries, Administration Business and Company Directors, etc (Bailiwick of Guernsey) Law, 2000, as amended; from 4 May 2020 until 4 May 2024: the functions of director, controller, partner and manager in relation to a regulated activity carried on by or for a licensed fiduciary.The Protection of Investors...