Guernsey Financial Services Commission November 11th – Prior to November 2009 the Guernsey Financial Services Commission (Commission) issued Business from Sensitive Sources Notices, which required enhanced customer due diligence measures to be undertaken by financial services businesses and prescribed businesses in Guernsey when taking on business or transactions from specified countries or territories.
In November 2009 the Commission issued a further series of requirements. As these requirements go beyond enhanced customer due diligence measures in relation to specific jurisdictions the Commission has issued them in the form of Instructions rather than Business from Sensitive Sources Notices.
As at 11 November 2009 Business from Sensitive Sources Notice 9 for Financial Services, and Business from Sensitive Sources Notice 4 for Prescribed Businesses are repealed – this means that all of the Business from Sensitive Sources Notices has now been repealed. Read more at http://www.gfsc.gg/content.asp?pageID=422