Articles from 2025

The Commission’s development of technology such as its Early Warning System and new Applications and Authorisation Portal has demonstrated its commitment to efficiency and effectiveness enhancing technologies. The Commission appreciates that continued technological evolution by it and our core economic sector is important for the future prosperity of the Bailiwick. Further to this work, the...

The Guernsey Financial Services Commission welcomes the findings of Guernsey’s Mutual Evaluation Report by MONEYVAL, the Council of Europe’s permanent monitoring body, published today (Monday 10 February 2025). The report confirms the Bailiwick takes a robust approach to counter money laundering, terrorist financing and proliferation financing. Speaking about the report, the Commission’s Director...

The Commission has today published a consultation paper proposing amendments to the Financial Crime Returns Rules (“the FC Returns Rules”) which will make mandatory the filing of periodic returns for accountants, lawyers and estate agents (“prescribed businesses”). This will end the disparity with other sectors where such filings are mandatory. The proposed amendments follow the consultation by...

The Commission has today issued its report on the Thematic Review of Insurance Reserving. In the summer of 2024, the Commission’s Banking and Insurance Division undertook a thematic review of the reserving methodology and practices implemented by licensed general insurers. As part of its thematic review, the Commission sent out questionnaires to 20 licensed firms representing a range of policy...

Please be advised that the following person has been removed from the UK Russia financial sanctions regime and is no longer subject to an asset freeze, travel ban or trust services sanctions: Nikolay Ivanovich Bortsov (Group ID: 14489) The consolidated list has been updated and can be found here . The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK...

Please be advised that the following individuals and entities: ALEVKURP OJSC (Unique ID: BEL0167) Andrei Valerievich ANANENKO (Unique ID: BEL0168) Andrey Mikhailovich TSEDRIK (Unique ID: BEL0169) Igor Vasilyevich KARPENKO (Unique ID: BEL0170) KB Unmanned Helicopters (UAVHeli) (Unique ID: BEL0171) Legmash Plant JSC (Unique ID: BEL0172) Mikhail Petrovitch BEDUNKEVICH (Unique ID: BEL0173) Pavel...

Anyone considering standing in the 2025 Guernsey General Election is invited to a session hosted by the Guernsey Financial Services Commission, Guernsey Finance and the Guernsey International Business Association (GIBA) to learn more about Guernsey as an international finance centre. The Introduction to the Finance Sector for Prospective Deputies session will be held at the Guernsey Financial...

Please be advised that details of the following person: DOMINGO ANTONIO HERNANDEZ LAREZ (GROUP ID: 16733) who has been designated under the Venezuela (Sanctions) Regulations 2019 (the UK regulations), have been amended. They are still subject to an asset freeze. The individuals referred to above appear on the UK’s consolidated list, which can be found here . The UK regulations are given effect...