News

The Commission has today removed Iceland from Appendix C (Equivalent Jurisdictions) of the Handbook on Countering Financial Crime and Terrorist Financing and issued an instruction for all specified business to ensure that full customer due diligence has been applied to all existing business relationships connected to Iceland by 31 January 2020. This action follows the Financial Action Task Force’s...

Please be advised that one entry has been added to the list of individuals and entities associated with ISIL (Da’esh) and Al-Qaida maintained by the European Union under Council Regulation (EC) No 2016/1686 by Council Implementing Regulation (EU) No 2019/1943. These changes are automatically effective in the Bailiwick under the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, the Al...

Please be advised that one entry has been removed from the list of individuals and entities associated with ISIL (Da’esh) and Al-Qaida maintained by the European Union under Council Regulation (EC) No 881/2002 by Commission Implementing Regulation (EU) No 2019/1883. These changes are automatically effective in the Bailiwick under the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, the...

Council Regulation (EU) No 2017/2063, as implemented in the Bailiwick by the Venezuela (Restrictive Measures) (Guernsey) Ordinance, 2017, has been amended by Council Implementing Regulation (EU) No 2019/1891. The effect of the amendments, which are automatically and immediately effective in Guernsey, is to amend the listings of eight persons on the list of persons subject to an asset freeze and...

Information on the Sanctions (Bailiwick of Guernsey) Law, 2018 is available on the States of Guernsey website. The Policy & Resources Committee has also issued: an advisory memorandum giving details of the scope and effect of this legislation, guidance on reporting obligations under the law. Links to these can be found on the States of Guernsey website at www.gov.gg/sanctions. The advisory...

Nicaragua (Restrictive Measures) (Bailiwick of Guernsey) Regulations, 2019 On 14 October 2019, in response to concern about the situation in Nicaragua, the EU published Council Regulation (EU) 2019/1716. This sets out restrictive measures comprising an asset freeze and other financial restrictions on listed persons that are responsible for serious human rights violations or abuses or for the...

The Republic of Maldives (Repeal of Restrictive Measures) (Guernsey and Sark) Regulations, 2019 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, setting out restrictive measures. This has been given domestic effect by Ordinance. The European Union has repealed those measures following its...

Cyber-Crime (Restrictive Measures) (Bailiwick of Guernsey) Regulations, 2019 On 17 May 2019, in order to improve capacity for responding to and deterring cyber-attacks, the EU published Council Regulation (EU) 2019/796. This sets out restrictive measures comprising an asset freeze and other financial restrictions on listed persons that are responsible for, provide financial, technical or material...

Third Quarter 2019 Investment Funds The net asset value of total funds under management and administration has decreased in Sterling terms during the last quarter by £9.8 billion (-3.3%) to £286.1 billion. Over the past year, total net asset values increased by £6.1 billion (2.2%). Open-ended Schemes Within these totals, Guernsey domiciled open-ended funds increased over the quarter by £0.9...